What QIC Real Estate does

QIC Real Estate is the direct property investment and management arm of QIC Limited, a government-owned corporation constituted under the Queensland Investment Corporation Act 1991 and wholly owned by the Queensland Government. Within QIC's broader A$131 billion multi-asset platform, the real estate business designs, develops, and manages a portfolio of approximately 20 retail assets and 8 office assets across Australia's east coast, generating around 141 million annual visits as at 31 March 2026 and employing 400+ real estate professionals within a wider 900+ person group.

The business operates three primary revenue streams: asset management fees on approximately A$131 billion of group AUM administered for around 120 institutional and government clients globally, property rental income from owned and managed retail and office assets, and development profits generated through precinct redevelopment and repositioning. Its core products include flagship retail destinations such as Canberra Centre (94,967m2) and Pacific Epping (89,102m2 GLA, 212 stores), the Brand iQ sub-brand offering pop-up retail, in-centre media and flexible leasing from a single day, design and fitout services for retail tenants, and the Retailer Portal (a Microsoft PowerApps-based tenancy administration platform).

QIC Real Estate sells through two distinct go-to-market motions: an enterprise field sales approach to retail tenants ranging from national anchors (Woolworths, Big W, Kmart, Accent Group) to premium designer brands and emerging concepts, and an institutional distribution network across Sydney, New York, London, and Singapore serving global pension funds, sovereign wealth funds, and government investors. There is no public pricing, no disclosed revenue, and no disclosed AI/technology differentiation; the platform's value proposition rests on sovereign ownership, scale of physical footprint, and embedded tenant and government relationships.

Name

QIC Real Estate

Legal name

QIC Limited

Website

https://qicre.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

QIC Real Estate is the direct property arm of Queensland Government-owned QIC Limited, designing, developing, and managing a portfolio of approximately 20 retail and 8 office assets across Australia's east coast, serving institutional investors globally and national and emerging retail tenants.

Ownership category

akta.pro rank

Product category

Real Estate Investment and Property Management

NAICS

Real Estate Property Managers (53131), Portfolio Management and Investment Advice (523940)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531), Investors, Nec (6799)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

Keywords

• Real estate investment management
• Retail property management
• Commercial leasing services
• Shopping centre operations
• Institutional asset management

Headquarters

HQ city

Brisbane, Queensland

HQ country

Australia

HQ region

Oceania

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Asset Management Fees: QIC manages real estate assets on behalf of clients (institutional and government investors) and earns management fees based on assets under management.
2. Property Rental Income: As owner/operator of retail and office properties, QIC generates rental income from tenants across their ~40 real estate assets on Australia's east coast.
3. Development Profits: QIC develops and redevelops properties, generating returns through development margin and increased asset values.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

QIC Real Estate designs, develops, and manages vibrant urban destinations including approximately 20 retail assets and 8 office assets across Australia's east coast. The business operates as a wholesale real estate investment and property management platform serving institutional investors through asset management services and retail/office tenants through direct leasing. Complementing property management, it offers the Brand iQ sub-brand (pop-up retail, flexible leasing, and in-centre media), Design & Fitout Services, and a PowerApps-based Retailer Portal for tenant account and tenancy management.

Product overview

QIC Real Estate is a platform managing a diverse portfolio of retail and commercial properties across Australia. The core offering consists of retail asset management services across 20 retail assets and 8 office assets, serving approximately 141 million annual visitors. Key products and services include Brand iQ (sub-brand offering pop-up retail solutions and media/advertising solutions), Design & Fitout Services, and the Retailer Portal for tenant management. Notable managed properties include Canberra Centre and Pacific Epping. The company operates as part of QIC's broader investment management capabilities spanning Infrastructure, Real Estate, Liquid Markets, Private Equity, and Private Debt.

Differentiator

Problem solved

Functional benefit

Brands

• Brand iQ: A sub-brand providing retail solutions including pop-up retail spaces, flexible leasing opportunities, and in-centre media and digital campaigns for brands to connect with customers at QIC shopping centres.

Products and services

• Retail Asset Management End-to-end design, development and management of shopping centres and lifestyle destinations across Australia's east coast, covering a portfolio of 20 retail assets generating approximately 141 million annual visits.
• Brand iQ QIC sub-brand providing pop-up retail spaces, flexible leasing opportunities, and in-centre media advertising campaigns to help retail brands connect with customers at QIC shopping centres.
• Design & Fitout Services Property design and fitout services for retail tenants, working with design studios to deliver experiential retail environments across QIC's portfolio.
• Retailer Portal Secure PowerApps-based portal enabling retail tenants to access their accounts, manage tenancy matters, and interact with QIC property management teams.
• Canberra Centre Flagship retail destination in Canberra with 94,967m² of retail space and 19.7 million annual visits, featuring fashion, lifestyle, wellness and dining experiences including 200+ retailers.
• Pacific Epping Lifestyle hub in Melbourne's outer north with 89,102m² total GLA, 212 retail stores, and 11.8 million annual visits, featuring shopping, dining, entertainment and essential services.

Quantifiable outcome

• 141 million+ annual visits across portfolio
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• YourStudiocoreStrategic or Co-development PartnerGlobal design consultancy that collaborated with QIC to produce an insights report analyzing design approaches that engage customers across QIC shopping centres. Partnership focused on design innovation and experiential retail trends shaping successful shopping centres.
• Span DesignminorImplementation/ SI/ Consulting PartnerDesign supplier that delivered Castle Towers' No Gap Dental, demonstrating QIC's collaborative relationships with design studios for specialty retail fitouts.
• Emac ShopfittersminorImplementation/ SI/ Consulting PartnerShopfitter responsible for Canberra Centre's Aesop store, enabling premium retail fitouts through deep partnerships with design studios.
• Work Club GlobalminorChannel Partner/ Reseller/ DistributorCoworking operator with outlet at Canberra Centre catering to CBD professionals and residents, integrating coworking facilities within QIC's retail precinct.
• Rebel SportcoreStrategic or Co-development PartnerMulti-centre retail partner where collaborative relationships enable QIC to deliver experiential innovation. Rebel Sport represents category expertise across dramatically different formats from health clinics to specialty cafes.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Stockland: Stockland is one of Australia's largest diversified property developers and managers with retail town centres comparable to QIC's portfolio. Both operate community-centered shopping destinations on Australia's east coast.
• Vicinity Centres: Vicinity Centres is one of Australia's largest retail property REITs with a portfolio of shopping centres directly comparable to QIC's shopping centre holdings. Both focus on community-anchored retail destinations serving Australian consumers.
• Dexus: Dexus is a major Australian real estate investment manager with office and retail exposure and institutional fund management capabilities comparable to QIC Real Estate. Managing Director Deborah Coakley came from Dexus.
• Charter Hall: Charter Hall is a leading Australian property investment and funds management group with retail, office, and industrial capabilities — directly comparable to QIC Real Estate's institutional fund management model.
• Lendlease: Lendlease is an Australian-headquartered global real estate investment manager with comparable retail asset management and development capabilities. QIC CEO Kylie Rampa previously served as Group Head of Investments at Lendlease.
• Scentre Group: Scentre Group owns and operates Westfield-branded shopping centres across Australia and New Zealand, making it the closest direct peer to QIC Real Estate's 20 retail assets. Both compete for premium retail tenants and similar institutional investor mandates.
• Mirvac: Mirvac is an Australian property group with retail, office, and residential assets plus investment management capabilities. Comparable to QIC Real Estate across the retail and office asset classes and institutional fund management.
• GPT Group: GPT Group is an Australian property group with retail, office, and logistics assets and a funds management business — directly comparable to QIC Real Estate's diversified portfolio across retail and office.

Broad incumbents

• CBRE Investment Management: CBRE Investment Management is a global real estate investment manager competing for institutional mandates comparable to QIC's ~120 institutional client relationships. Broader geographic reach but overlapping investor base in Asia-Pacific.
• AMP Capital: AMP Capital is a large incumbent Australian investment manager with real estate, infrastructure, and alternatives capabilities. Comparable to QIC's broader institutional investment management platform, with Ross Israel previously at AMP Capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/qicre

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about QIC Real Estate