After earning the coveted 4.5 Gold Star iCIRT rating in NSW, DASCO, a 30-year-old family-run construction and development business is now aiming for a second rating by entering the rigorous assessment process again.

Created by Equifax in close consultation with the public and private sector, the Independent Construction Industry Rating Tool (iCIRT) pulls together thousands of data points to understand the character, capability, capacity and other vital aspects of developers and building professionals, and provides a rating between one and five stars. Introduced in response to reforms in NSW in recent years, the rating tool is intended to improve transparency and assist in lifting construction capability and consumer confidence in residential buildings within the state. Over 91 companies have already been rated with 238 more in the pipeline.

After achieving their rating in February 2022, DASCO benefited immensely with the company receiving engagements from developers who saw ratings as an important consumer credential to help attract confident buyers to their projects.

“We have had situations where buyers have come to us specifically because of the rating, and even getting deposits on other competing projects refunded so they can buy with us. We’ve always been confident in our quality, but having the rating to prove it gives buyers incredible confidence and that’s definitely translating into sales,” says DASCO co-owner Daniel Nicolas.

“The trust from buyers is returning – the industry has gone through some significant challenges in the past few years, and we see the iCIRT as key to restoring trust in and revitalising the industry.”

NSW Building Commissioner David Chandler joined a recent industry forum hosted by DASCO where their rating journey was shared with financiers, competitors, trade contractors, real estate marketers and insurers.

“There is an obvious shift in the respect now being given across the entire building ecosystem from designer to contractors and manufacturers. Suddenly sharing the imperative to restore trust in the industry and reverse the previous race to the bottom has taken hold,” he said.

The iCIRT scheme is restoring confidence and building momentum in the construction industry, particularly at a time of rising demand for high-quality housing developments.

“iCIRT brings much-needed visibility to an industry where reliable, objective data has up until now been hard to come by. It applies an independent, holistic and evidence-based assessment, boosting trust in the industry and giving more confidence to buyers,” says Brad Walters, Equifax’s head of product and rating services.

iCIRT ratings are also giving insurance providers and financiers extra confidence to engage and invest with highly-rated companies.

With more than 1,200 dwellings in the pipeline, DASCO sees the rating tool as an integral part of building and protecting their brand and reputation.

“We have had developers tell us that they’ve entrusted their projects to us as builders because the iCIRT rating has given them confidence in our ability to deliver. We’ve also heard from sales agents that our 4.5 star rating has given off-the-plan buyers assurances about our reliability,” says DASCO co-owner Salim Nicolas.

DASCO is working with Kassis Homes on 192 apartments with 2,000sqm open space at Grand Rève at Castle Hill. While managing director Sam Kassis had signed up with DASCO before the iCIRT was awarded, based on his knowledge of the company and its good reputation, he says the iCIRT rating has provided a real edge over others in the market. “It really means something to buyers, and we can see that confidence reflected in the strength of early sales at Grand Rève.”

DASCO is also working with Top Spring on 323 apartments at The Newlands in St Leonards, a luxury mid-rise development in the Lower North Shore.

A Stage 2 DA for an approved masterplan consisting of 376 apartments, with circa 800sqm of retail, indoor gym and rooftop pool and many other amenities such as an outdoor boot camp, walking trails and communal garden and BBQ areas in Epping is currently under assessment with the NSW Department of Planning.

Image: NSW Building Commissioner David Chandler joined a recent industry forum hosted by DASCO where their rating journey was shared with financiers, competitors, trade contractors, real estate marketers and insurers.

Branko Miletic

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