Toowoomba builder McNab named one of nation’s largest firms

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A Toowoomba construction firm with more than $1.1bn in projects under way has laid out plans for expansion and diversification ahead of a major building boom.

McNab has been named Australia’s 12th-largest builder, based on Hubexo’s latest Construction League that ranks the nation’s 50 biggest firms.

The Neil St-headquartered business started work on 24 projects in 2025, with an average cost of $48m.

Key local projects include two major social and affordable housing towers currently under construction in Newtown (Princess St for Mission Australia) and Toowoomba City (Station St for BHC).

As a consequence, it is the largest Toowoomba-based builder on the list, ahead of major competitors like FKG.

The result was welcomed by director and founder Michael McNab, whose various businesses under the brand now employs more than 750 people across three countries.

“While we don’t chase rankings, it’s a testament to our amazing team here at McNab,” he said.

“We started out as a small company in Toowoomba 30 years ago, and this reflects the trust our clients and subcontractors have placed in us over those years.

“We employ more than 750 people across our offices in Toowoomba, Brisbane, the Gold Coast, the Sunshine Coast, Sydney, Vietnam and the Philippines.

“A meaningful share of that workforce is still based in or operates out of Toowoomba, and it remains a core part of who we are.”

Mr McNab said the company was working on diversifying its makeup with further investment into modular builds, building productions, energy and even property development.

“What many people don’t realise is that McNab Group is a number of companies, with construction just one part of our business,” he said.

“For example, we actually produce building products for other builders, and we have a number of apartment buildings we’re developing, marketing and selling ourselves — most recently the heritage Tannery building in West End.

“The other area is our people and technology — we’re investing heavily in both, including AI, to make sure we can keep delivering at this scale without losing what’s made McNab successful.”

Mr McNab said he was expecting the entire Queensland construction sector to explode in the lead-up to the 2032 Brisbane Olympics, which he hoped would counteract some serious headwinds created by ongoing economic instability.

“Queensland has real tailwinds, from Olympic-related infrastructure, strong housing demand, to high interstate population growth,” he said.

“But the sector is also working through cost pressure and skilled labour shortages.

“We do a lot of data and modelling work to be specific about where the market is heading, and that’s part of why we’ve invested in businesses like ModnPods modular, the country is going to need every type of building solution to meet demand.

“The businesses that do well over the next five years will be those with the best relationships, the best people, and are diversified.

“That’s why we’ve built the group the way we have, it gives us certainty in a market where certainty is increasingly hard to come by.”