Mirvac loses its longtime head of residential John Carfi

Mirvac loses its longtime head of residential John Carfi
Mirvac loses its longtime head of residential John Carfi

Mirvac Group has been rocked by the departure of its long-time head of residential John Carfi.

The veteran will leave the group to become joint head of global property development at Dubai company Emaar Properties.

The move comes after the listed group unveiled a shift towards more urban regeneration projects in Sydney and Melbourne rather than highrise.

Mirvac holding a record $3 billion of presales and almost 90 per cent of its expected residential earnings secured for this financial year.

Carfi joined Mirvac in 2001.

“I have enjoyed my time at Mirvac and I am extremely pleased to have been able to lead one of Australia’s leading residential businesses for many years.

"The existing business is positioned extremely well to continue to deliver strong earnings and the substantial pipeline will ensure its future success.

"Whilst I am sad to be leaving Mirvac I am looking forward to the opportunity I have ahead of me.”

Mirvac’s chief investment officer, Brett Draffen, who will oversee the residential business in the interim as Mirvac looks to determine a permanent outcome.

Emaar Properties operates in the Middle East, North Africa and Asia.

The iconic Burj Khalifa and The Dubai Mall, the world’s largest shopping and entertainment destination, are among its trophies.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Mirvac John Carfi

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