The Property Council of Australia today announced Charter Hall Office CEO Carmel Hourigan as its new National President.
The Property Council is the leading peak body for an industry that shapes Australian cities and employs more Australians than any other.
Ms Hourigan succeeds Michael O'Brien, who retired from the Presidency at today's Board meeting in Townsville.
Ms Hourigan said it was an honour to be elected and that her number one priority was to continue Mr O'Brien and the Property Council's strong track record in driving meaningful change on key issues affecting the property industry and the lives of Australians.
Ms Hourigan said the next few years will require industry leaders to champion the importance of overseas investment in our city assets across all levels of government.
"I am excited to work with my industry colleagues in my new capacity as National President, as we advocate for and advance our thought leadership on impactful solutions to key issues such as the housing crisis, efficient tax settings and successful decarbonisation," Ms Hourigan said.
"Australia has long been an attractive destination for international capital, which has been critical to the growth and vibrancy of our cities over the past 50 years.
"Following a decade of increasing property taxes on institutional and individual investors by federal and some state governments across all the assets that grow our cities, it's time for us to address and rectify the investment barriers that this has created.
"We will continue to advocate for better planning and the importance of prioritising industrial, commercial and residential projects that create the greatest benefits to the quality of life of all Australians.
"We will remain in the centre of the national housing debate, having successfully championed unprecedented supply targets and incentives, targeted skilled migration, planning reforms and growing last mile infrastructure funding to deliver all the property types our growing cities need.
"Importantly, as we grow our industry, we also remain focused on attracting and promoting diverse talent. Building on the good work of the Property Champions of Change, we are shaping an industry that's equitable and inclusive for everyone, which will ultimately drive productivity and innovation," she said.
Ms Hourigan has over 30 years of experience in the real estate investment industry, holding senior leadership positions and working in funds management across both public and private markets, as well as in investment, research and advisory services. She is currently the Office CEO at Charter Hall, leading its $27 billion office portfolio, with cross-sector experience in her previous roles including Global Head of Real Estate at AMP Capital, CIO at The GPT Group and Head of Investment Management at Lendlease.
In addition to serving as the current President of the Property Council's Capital Markets Division, Ms Hourigan has been a Property Council National Board member on a number of occasions over a 15-year period.
Ms Hourigan paid tribute to the work of outgoing President Michael O'Brien, who was warmly thanked by the Board at its meeting.
"I acknowledge the leadership of Michael O'Brien who has been a strong voice for industry at a time of heightened regulatory change," Ms Hourigan said.
"Michael's strategic insight and stewardship of our thought leadership agenda has been exemplary and the Board and I are deeply appreciative of Michael's tireless service.
"Working with our Division councils and the Property Council team across the country through the challenges of a high red-tape, high inflation environment Michael has guided our agenda as well as helping the leadership team advance our members' interests," she said.
Michael O'Brien said it has been a pleasure being Property Council President.
"It has been a great experience to commission thought leadership and national conversations about solutions to the housing crisis and the future of our cities as President of the Property Council," Mr O'Brien said.
"Being at the forefront of these conversations has provided the opportunity to collaborate with political, industry and civic leaders to explore innovative solutions and drive meaningful change.
"I know the position is in good hands and I look forward to continuing to contribute to the work of the Property Council and the Board as Immediate Past President," he said.
Property Council Chief Executive Mike Zorbas said Ms Hourigan is a forthright leader and a long term-contributor to the work of the Property Council.
"Carmel has a clear vision to drive success in our industry, and her Presidency will advance a pro-investment, pro-delivery environment across the country," Mr Zorbas said.
"I thank her in advance for using her experience to guide the industry towards a prosperous and sustainable future," he said.
Mr Zorbas also acknowledged the contribution of Mr O'Brien.
"I am personally grateful for Michael's guidance to me and our executive and his support of our terrific teams in every state and territory across the country," Mr Zorbas said.
