Mirvac first to be awarded 5 gold star iCIRT rating for a second time

19th June 2024

For the second year in a row, Mirvac Constructions has been awarded with the highest possible 5 Gold Star iCIRT rating, a recognition issued by regulated rating agency Equifax. Mirvac is the only business in Australia to have achieved this rating twice.


The iCIRT rating tool follows numerous pillars of reform implemented in NSW within recent years. The aim of this rating system is to improve building standards, rebuild trust and transparency within the industry, and restore consumer confidence. Following an intense evaluation and assessment process, Mirvac was the first to be awarded the prestigious 5 Gold Star rating last year.

Stuart Penklis, Mirvac’s CEO of Development explained that the 5 Gold Star rating has been earned through decades of setting high standards in the design and building phase of Mirvac’s developments across the commercial and residential sectors.

“Mirvac has consistently delivered a track record of excellent, high-quality development and it’s great to see our achievements being recognised again through an independent and rigorous assessment process,” said Mr Penklis.

“Raising the standard of construction in NSW is critically important to protect purchasers and restore confidence in buying off the plan and newly built apartments, especially given the difficult operating environment for construction with labour shortages, inclement weather, and rising costs.

“The 5 Gold Star rating is testament to Mirvac’s unwavering aim to achieve a high standard of product. The integration of best in field experts involved in every step of the process, from conception to completion to after sales customer care, is a clear competitive advantage for Mirvac,” said Mr Penklis.

“Mirvac’s uncompromising commitment to high quality construction has enabled us to employ and retain driven construction professionals and experienced subcontractors, that take pride in their workmanship and the finished product.

“For the customer, this guarantees absolute confidence that the mark of Mirvac quality is embedded in every little detail on each and every project,” said Mr Penklis.

Brad Walters, Head of Product and Rating Services, Equifax said “Equifax is pleased to announce that Mirvac has once again achieved a 5 Gold Star rating, the highest rating available under iCIRT. To achieve this rating, Mirvac had to provide evidence that they were operating at the highest possible level across each of the six criteria that makes up the iCIRT ratings assessment,” said Mr Walters.

“We know from our research that only three in ten (30%) Australians have a positive perception of the construction industry - despite 45% of Australians saying they intend to purchase, renovate or build in the next five years. But the good news is, 76% of consumers who are aware of iCIRT say their perception of the building industry has improved in the past 12 months. Additionally, three-quarters of Australians with property plans in the next five years say they would pay more to get assurance of working with trustworthy property developers or building professionals.

“Now more than ever, it’s vital that consumers and the broader market have confidence that there are capable, reliable and resilient industry players that are dedicated to doing the right thing. By achieving a 5 Gold Star rating two years in a row, Mirvac is leading the way and helping restore confidence in the industry.”

Mirvac is currently progressing several residential apartment and master-planned community projects including Nine by Mirvac at Willoughby (in New South Wales), Trielle at Yarra’s Edge (in Victoria), and Quay and Isle at Waterfront Newstead (in Queensland).


Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.