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AAP
AAP
Marion Rae

MYSTERIOUS: Property giant mirvac warns of challenging conditions | Mind Blowing Facts

Mirvac's Campbell Hanan said market conditions will likely remain challenging this financial year. (Nikki Short/AAP PHOTOS)

Property giant Mirvac Group has posted a smaller operating profit amid tough conditions as it sells office blocks to invest in build-to-rent apartments and warehouses.

The developer, investor and fund manager on Thursday reported a five per cent fall in net operating profit to $552 million for the year to June 30.

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