This article is from the Australian Property Journal archive
MIRVAC has appointed head of industrial Stuart Penklis as its new head of residential.
Penklis replaces John Carfi, who quit last year after accepting the job as joint head of global property development at Dubai-based Emaar Properties.
Mirvac’s residential division reported a secured future income of $3.1 billion from residential pre-sales in its half-year results, with 93% and 63% of expected residential earnings before interest and tax locked in for the 2017 and 2018 financial years respectively.
It is anticipating more than 45% in earnings growth for the division in the full 2017 financial year.
Mirvac appointed Penklis following an internal and external selection process. He joined Mirvac in 2002 and has played major roles in the delivery of residential and industrial projects by the group, including Harold Park, The Moreton, Hoxton Distribution Park and Calibre in Sydney.
“I am delighted to welcome Stuart to the role of head of residential. He is a good example of the depth of our internal talent and brings an exceptional understanding of our business, our customers and the property industry,” Mirvac’s chief executive office and managing director, Susan Lloyd-Hurwitz said.
Penklis will begin in the role from the start of May.
Australian Property Journal
