International Women’s Day: Dear future women leaders…

Is the real estate sector an appealing one for female leaders of the future?  It’s an apt question to ask an industry striving to shake off its “male, pale and stale” image while simultaneously finding itself at the forefront of work to address our biggest environmental and societal challenges.  To help us mark this year’s International Women’s Day on 8 March, EG asked 14 women who have carved out fascinating careers in the sector what they would tell a young woman considering her future career today. Does real estate offer the chance for her to thrive?   Their letters are candid. Catherine Webster, chief executive of fund manager PfP Capital, acknowledges there “absolutely remains some unconscious and conscious bias,” but says diversity is much improved since she started working in the 1990s.  Emma Cariaga, joint head of Canada Water and head of residential at British Land, writes that “being female in a historically male-dominated industry has been an advantage because I’ve been able to provide a different point of view to consider”.  “I’d hope that’s increasingly the case – or, even better, that one’s gender is irrelevant – for the generations coming through the ranks.” Above all, their letters tell the next generation about the vast scope of opportunities out there for young women considering joining the industry.  “You can find a place to work where you can make a difference – by being you and where there are now equal opportunities for everyone,” writes Knight Frank partner Emma Goodford. Stephanie Hyde, JLL’s UK chief executive, says working in real estate can make a difference by helping to reverse decline in our towns and cities. Amal Del Monaco, Patrizia’s European chief executive of asset management and development, writes that “the real estate industry will offer you the possibility to address climate and social challenges by creating more inclusive places, where customers’ wellbeing is aligned with that of our planet”. And architect Sadie Morgan, co-founder of dRMM, urges the next generation not to be “defined” by the crises thrust upon them. “Rather, you have the power to define them by the actions you choose to take,” she writes. We hope you will find their letters inspiring – and that you will want to share them. Emma Cariaga, joint head of Canada Water and head of residential, British Land There is much more to real estate than meets the eye, and so many hidden opportunities which make it such a rewarding profession and compelling career path for any aspiring teenager considering what their future might hold.  In the past, property has had a reputation for being “male, pale and stale”, but in the 20 years I’ve worked in the industry I’ve seen barriers broken down and doors open to a much more diverse range of talent.  The current project I’m leading, the Canada Water Masterplan, is one of the largest and most sustainable regeneration projects in London’s history and is a perfect case study for the breadth of career opportunities that are available within the industry.  Creating a new 21st-century town centre requires a huge range of expertise and diversity of thought, from planning consultants, architects, building contractors and engineers to investor partners, community engagement officers, local authority teams and biodiversity experts.  Creating a new 21st-century town centre requires a huge range of expertise and diversity of thought This diversity of thought is an essential ingredient for any commercial initiative, particularly when it comes to the success of a major mixed-use development such as Canada Water. It ensures we deliver a place that will appeal to people from all walks of life and stand the test of time.  In my experience, being female in a historically male-dominated industry has been an advantage because I’ve been able to provide a different point of view to consider. I would hope that’s increasingly the case – or, even better, that one’s gender is irrelevant – for the generations coming through the ranks.  I would urge any young woman considering a career in this industry to take a step back and look at the huge range of opportunities the sector can offer. Diverse, talented teams can have a truly transformative impact on the built environment and achieve lasting positive change, alongside plenty of excitement. There aren’t many professions that can make that claim. Best wishes, Emma Anyi Hobson, director, SEAM Advisory There are many reasons to consider a career in real estate and the diversity of choice was one of its charms for me. My journey was anything but straightforward – via banking, fashion and many other fields. I came to real estate as a pan-European retail expert. I’ve stayed because it allows me to develop strategies and execute them; to move around asset classes, countries and cultures; and, finally, to shape the outcome of cities and places. Essentially, I was able to combine my strengths with my passions, which isn’t easy to do in other sectors. Back to the variety. If you love spreadsheets, there’s investment; building sites, development; and future challenges, proptech. This could be a much longer letter, but you get the gist. There are perceived and real barriers within the sector, gender being one of them. Social mobility, or lack thereof, is another.  These barriers vary significantly within companies, so it’s important to find the right culture, which is paramount in every job, irrespective of the industry. These and other challenges are now recognised, as well as the imperative for companies to diversify and treat and remunerate their workforce equitably. These factors make it an opportune time for women to enter the sector to be the change we want to see. Be prepared to be the only woman in many settings and to stand your ground. At the same time, don’t underestimate the power of allies, mentors and sponsors.  Keep in mind that you have the opportunity to either zig-zag your way into the sector or start now. The beauty is that the choice is yours. Enjoy! Anyi Catherine Webster, chief executive, PfP Capital I hear you’re considering a career in real estate. That’s awesome news! It’s a great industry that provides a lot of occasions to grow, augment skills and seek new opportunities to widen knowledge. Case in point: today, I run a residential investment management business; in the past I have been a valuer, fund manager, real estate lender, developer, investor, and adviser. Those are just a very small sample of the enormous breadth and range of careers available across the industry.   Age 17, my university form in hand, I was attracted to property by two things:  Not being tied to a desk all the time – you get to go out, see and understand location/markets/assets; and  The market exists due to people and interactions, not a lifeless screen on which to trade on.  These are still the fundamental reasons I remain in the industry today, but I now have a third one to add: sustainability. We in the real estate industry can affect the lives of so many through working together to tackle carbon emissions, meet net zero targets and ensure the built environment makes a positive contribution to society.  Is there potential today for women? Yes, more than ever. Is there potential today for women? Yes, more than ever. While it is still a male-dominated industry and there absolutely remains some unconscious and conscious bias, diversity is much improved since I started working in the 1990s. There are fabulous and very supportive networks of women in the industry – find them and actively get involved; there are lots of women out there willing and able to mentor new recruits to help you navigate your career; and companies without a diversity & inclusion policy to ensure that gender, race, abilities etc are supported with the strategy embedded by those at the top will, frankly, be left behind and hopefully easy to avoid.   Yours, Cath Ellie Cosgrave, director of community interest company and research, Publica First things first: I am not here to convince you of anything.  I don’t know who you are, your hopes for your future, I don’t know what special powers you have, or the unique perspectives you can offer the world. I’m the least qualified person to tell you what to do. Which is fine because the most qualified person is sitting right here in your chair, reading this. Yes, I mean you! Instead of rattling on about what’s best for you, I’ll tell you about how I felt as a teenager and how my career has transported me to places I could never have imagined. As a teenager I wanted to change the world. I wanted to play my part in our global human challenge of living sustainably and to bring people out of poverty. To me, the most powerful way to do this was through studying engineering.  When I got to uni, I was surprised that my fellow students weren’t quite as interested in these issues as I was, and that it wasn’t really covered in the curriculum. In response, I joined Engineers Without Borders and set up an education programme. Some 15 years later, that programme supports 10,000 students a year in understanding the social impact of engineering. When I got into the workplace, I found it difficult being a young, idealistic woman. I felt dismissed and that people thought my work wasn’t serious. So I co-founded an organisation supporting women in science and engineering careers. We called ourselves ScienceGrrl and were appointed to advise government on what it should do to address gender representation in the sector.  I loved to dance and had a hunch that the ways in which choreographers saw the world could be really useful for how we design movement through cities. So I started a research programme called Choreographing the City, where dance artists have been collaborating with urban designers for the past five years.  I also had personal experiences of harassment and sexual assault in public space. I knew how deeply those experiences had affected me and I was furious that it wasn’t taken more seriously by urban designers. As a result, much of my work and research has focused on making public spaces safer for women and girls. This year I was appointed by the mayor of London to develop gender inclusion guidelines and principles for all of London’s public spaces.  If I could go back and tell all of that to my 15-year-old self, she would be absolutely amazed. She would be amazed that someone like her could do something like that. I’d like to tell her that not only did she do it but she was also the only person on the planet that could have taken this particular path. It was her willingness to be honest about her beliefs and passions, and to take herself seriously enough to follow through with action, that was key to a fulfilling career.  So back to you. What do you care about? Go and do that and you will have an extraordinary time.   Ellie Amy Soar, managing director, Helix, a Hines company There are so many roles and specialisms within real estate that there really is something for everyone. In my sector, property management, the role is constantly evolving. After almost 20 years in the business I am still learning new things every day.  My father was a chartered surveyor and my mother was an estate agent, so I spent my childhood listening to their stories about buildings and the people they met and also found a love for property. I enjoyed viewing some beautiful houses and got a thrill pitching for new business and closing a deal. I went on to study real estate management at Oxford Brookes University and took a path into commercial property management.  In my part of the business, it is all about people and providing the best experience to our clients and occupiers. You meet so many people throughout your career, it’s a really sociable industry.  There is more potential for young women in the industry than ever before. At Helix, a Hines Company, more than 40% of directors are female Through design and placemaking, you have an opportunity to shape places and experiences for people to enjoy as well as giving back through sustainability and social initiatives. Most days are spent touring buildings or pitching to potential clients. Some of the views from our central London assets are breathtaking. We even assisted one occupier with setting up an engagement proposal.   There is more potential for young women in the industry than ever before. At Helix, a Hines company, more than 40% of directors are female. The business has a culture of openness, quality and integrity and there are no barriers to progression. There is also more support than ever for young families with many companies. As a working mum, this is really important to me.  There are so many career paths which are ever evolving, so it is possible to have a squiggly career and create your own role. My biggest piece of advice to any young female is that it is vital to have the confidence to be authentic and to speak up and make sure your voice is heard. Good luck! Amy Amal Del Monaco, chief executive of asset management and development, European real estate, Patrizia At a time when we witness an increasing number of successful women leading international organisations such as the European Central Bank, the US Fed, or the International Monetary Fund; becoming inspiring astronauts, award-winning scientists or CEOs and prominent leaders within the real estate industry, it still strikes me that talented young women like you often suffer from impostor syndrome. Here is my message to you: Don’t downgrade your ambitions and dare trying even if you are not 100% matching the expected job requirements and, please, don’t listen to those telling you that you will need to choose between having a family (if that is your wish) and building a successful career. Think big but accept failure. There is no success that hasn’t been built on lessons learnt (about ourselves or the business). While you’ll be inspired by other women or men, don’t try to copy anyone. You must develop your own style with a healthy ambition that will require empathy and an appreciation for collaborative work. If making an impact is one of your aspirations, the real estate industry will offer you the possibility to address the climate and social challenges by creating more inclusive places, where customers’ wellbeing is aligned with that of our planet. The real estate industry is a people business, where being good might not be enough: develop your inter-company and external network. Identify people who inspire you and get guidance from mentors and sponsors. They are not simply doing you a favour – you will realise it is a win-win relationship. Keep the above in mind as you grow and start making decisions about your future with courage and determination and do it for your own self-accomplishment and for that of future generations. Amal Dellah Gilbert, chair of the Property Litigation Association and partner and head of property litigation at Maples Teesdale If you’re considering a career in real estate, I can’t recommend it enough. It’s a vast industry that touches everyone’s lives – from our homes and places of work to where we shop, play and have fun – not many industries can say that. As a result, there are an incredible range of careers on offer. From construction, surveying, planning and development to being a lawyer, architect or journalist – there really is something for everyone.  My own introduction to property was a happy by-product of becoming a lawyer. It was my first “seat” as a trainee and I loved it right from the off: resolving property disputes is like solving puzzles and I spend my time investigating facts, making site visits and conducting legal analysis. I love that real estate is so tangible and still get a buzz when I pass a property I’ve worked on.  Real estate is a people business. Properties get built and managed, deals get negotiated and documented, and legal disputes get raised and resolved by a huge array of people. I advise everyone from individuals to big institutions and frequently liaise with surveyors and barristers too. This is hugely enjoyable and means my work is never boring.  I also chair an industry association representing 1,500 property litigators – so there are plenty of interesting opportunities outside the day job too.  I suggest gaining work experience to try different roles in real life: watch and learn from those around you and, ideally, find a mentor. Don’t be afraid to be ambitious and foster your network of professional contacts, which will serve you well throughout your career. This is a very exciting time and I wish you the best of luck!   Dellah Sadie Morgan, director, dRMM The universe certainly seems to have had it in for your generation – impending climate disaster, widespread political dysfunction, economic meltdown, a global pandemic; and all that on top of centuries of gender professional bias from which very few industries have been spared.  However, just like generations before you, your trajectories need not – and should not – be defined by the crises thrust upon you. Rather, you have the power to define them by the actions you choose to take in the midst of these colliding episodes.  In the world of architecture and design – the world I live in – problem-solving is what every practitioner in the field is challenged to do effectively and innovatively. Women have a leg-up in this area, having had to contend with multiple, conflicting, simultaneous, reinforcing and emotionally fraught problems for millennia – some of which are only now becoming known, and have a long way to go in achieving widespread social acceptance and legitimacy. Your trajectories need not – and should not – be defined by the crises thrust upon you Take some time to reflect on your skills, your mental, physical and emotional potential, and on all the knowledge you have gathered over time. Then take that reflection and match it with confidence. Defend your ideas, debate and argue for what you believe in – and trust the fact that you can make a difference.  When I was your age, making a difference in the world was all I wanted to do. It sounds like a cliché, but it is the truth. And although I spent years drawing plans as part of my design career, I never had one for myself. The truth is, I never have. My non-plan has led me to opportunities I could not have dreamed up.  So whether you have a plan or not, my advice is to always come back to yourself, your individuality, your creativity, your passion, and bring that to the table of any given opportunity that comes your way. Because crises will keep coming, but the shape of your future will be determined on how you show up to face them. Best of luck, Sadie Laura Mason, chief executive, Legal & General Capital Choosing your career path can be quite daunting, but an early decision to go in one direction doesn’t mean you can’t pivot at a later date – I certainly have moved around in my own career.  I would encourage you to think outside the box and look beyond those traditional jobs you may learn about at school as you will find a world of different careers and opportunities that you may never have considered. Real estate is a multifaceted industry that supports career growth in a multitude of directions – from analysing financial returns, to managing customer relationships to creativity and design. It is a highly diverse industry which spans a range of skill sets and, of personal importance to me, can support real social outcomes such as meeting the critical need for more housing or adapting the built environment to support the climate transition.  With such a wide range of opportunities, diversity of talent and thought is critical to success and to the evolution of the sector over. This is why there is so much opportunity for the next generation of leaders of all genders to carve out a path in the sector, and why – despite the stereotype of being “male and stale” – it is a sector where talented woman can make a real impact.  As chair of Legal & General’s diversity  & inclusion group, this is a subject that is very close to my heart. It is not unusual for the fields I have worked in to be considered “closed-door” industries, so finding the right business to work for – which champions diversity of thought and women’s progression – is a key aspect which I would attribute my success to. I have been at Legal & General for more than 10 years and while we still have work to do as a business, I believe we really prioritise D&I, with people and culture outcomes representing an equal focus for us, alongside more typical business targets around profit.  As we innovate towards net zero, rethink how we can design healthy cities or use the built environment to tackle major inequality up and down the country, I can never think of a more exciting time to be in the sector. I would encourage any woman considering a career in real estate to go for it. L&G’s summer intern programme is a great place to start! Wishing you all the best, Laura Charlotte Glazier, programme manager, greening the public realm, Islington Council Rebel with a cause here. We are in a climate and ecological emergency which calls for new approaches. I trained as a landscape architect and learned to zoom in to the micro and out to the macro, developed visionary skills, incorporated natural processes and broader systematic thinking. The role of a landscape architect is recognised as being integral and essential in achieving the foundation for a more respectful nature-based approach to the design and delivery of buildings. For example: The relationship of buildings and direct integration into existing ecosystems such as the inclusion for sustainable urban drainage. Building capacity and evidence for insetting of positive environmental and social impacts to create greater benefits and values. An opportunity to set out evidence of the full environmental cost and impact of “loss” as well as the value of “having” into the cost-benefit analysis. Evidence and facts are no longer enough. We have plenty already and this knowledge to date has not enabled enough action. Complex problems cannot be solved by just doing this and doing that. We need to build more passion and heartfelt emotion into our work, to harness this power and enable new activators for change. Give yourself the gift of time, go slow and the rest will grow There is a need to connect with the natural world and keep close to the ground. There is a tendency to rush and I believe that time and tide waits for those with curiosity and patience. Go slow and you will have the opportunity to observe, stand, witness and allow space for new thoughts and ideas to emerge.  Embrace the opportunity to join your own dots. Give yourself the gift of time, go slow and the rest will grow. Charlotte Kaela Fenn-Smith, managing director, sustainability services and ESG, UK & Ireland, CBRE Real estate: is it all hard hats and hi-vis? Or perhaps long days thrashing it out in a boardroom? After 30 years in the industry I’ve known it to be both but it can be whatever you want it to be, because the built environment supports every aspect of our lives. It’s also an industry where you can make an impact commercially and through a purpose-led career.  Opportunities have broadened since I started my career at CBRE in Canada in 1993. Now, via several moves – from changing the landscape of London through development to engaging with property leaders across our industry for gender balance – I find myself leading CBRE’s UK and Ireland ESG consultancy team and sustainability services.  My role is to understand and advise on what good looks like, and how our clients get there. The landscape has changed dramatically; with ESG now being the driving force behind all decision-making across the sector. I have loved building and growing CBRE’s UK&I ESG consultancy team, which is now 95-strong and delivers strategy and implementation across portfolios and the life cycle of the asset for investors and corporates.  For someone starting out now, the CBRE apprenticeship scheme offers pathways in not just real estate but also marketing and communications, HR, finance, project management, building surveying, quantity surveying and my passion – environmental, social and economic impact.  During my 30 years in the industry, its offering to women has progressed leaps and bounds. CBRE is focused on increasing female representation to the most senior levels and I am proud to work for an employer that is removing the barriers that often disproportionately affect women at work by introducing a range of enhanced benefits across the spectrum of supporting women, families and carers and, importantly, a culture that values and supports women.  When I go home at night to my two teenage daughters and husband, we’re all proud of what my career has allowed me to personally influence. Wishing you all the best, Kaela Stephanie Hyde, chief executive, JLL UK As someone who only recently joined the real estate industry from the world of accountancy and consulting, I can attest that it is a welcoming and friendly sector. I enjoy my role immensely and am surrounded by colleagues who feel the same – whether they are new to real estate or have been working in this space for more than five decades. If you are looking for a career path that will provide you with the opportunity to make a difference both now and in the future then you should consider real estate. Our sector creates the places that define where we work, live and play – and a role within the built environment enables you to play a part in this. If you are looking for a career path that will provide you with the opportunity to make a difference both now and in the future then you should consider real estate Looking around you it may feel like the towns and cities that you live and study in are in decline, but real estate and infrastructure investment have a key part to play in reversing this and rebalancing regional growth. Economic, social and environmental value can be delivered by repurposing buildings and reimagining urban centres, through high-quality developments that meet the needs of all of those that use them. This cannot not be achieved through tried-and-tested means. We need diverse, innovative and different minds to achieve this – using a wide of range of skill sets and pools of expertise.  Sustainability, technology and data are all critical to the future so the industry has more engaging, challenging and rewarding career paths than ever before. Come and join us! Stephanie Geeta Nanda OBE, chief executive, Metropolitan Thames Valley You have plenty of time to think about your career. Take some time to look at less obvious professions. Here’s some tips about what I’ve learnt. Real estate. Who knows what this means? Is it men in suits walking around buildings, or is it another name for estate agents? It’s about homes and residential and commercial areas. It’s about where you live and work and all the spaces in between. I went into the housing sector to help provide affordable housing to those unable to access the market. I thought it was only my housing friends who cared about housing people well, who saw that good homes provide the basis for good health, education and security. Yet many real estate professionals feel the same. They also want to create inclusive places, where there is quality and diversity. Real estate is about buildings but it is also about people and how we live. You can make things better and be creative. This is an area of our lives and it’s an industry changing more than ever.  Is it only for men? Well, it has been but that’s changing. And it’s an industry with many diverse jobs. You can work for a local authority, a housing association, or a private developer. You can create new town centres and regenerate old estates. You can think about sustainability and help build a better planet. You can grow to love the people as I have. Things still need to change, with new ways of working and more young people. And you will need to work hard but the suits are moving on and the trainers are moving in. Lead the change and create our future environment. Don’t listen to the stereotypes, go and find yourself. But before you do, go and travel and have a lot of fun. Best of luck, Geeta Emma Goodford, partner, department head, UK life sciences and innovation, Knight Frank A letter to my daughter: There’s a job you can do when you leave school that will let you capture your love of the environment, shape the way the world around you develops and really make a contribution to climate change – and that’s working in real estate. This is a sector which has massive diversity of choice.  Maybe you’re interested in how and where people live – you can advise on residential development. Or it might be how to make the places we work more sustainable, or you might want to advise pension funds on how to spend their money wisely, which affects so many people later in life.  A degree in real estate will open doors to an industry with so much variety but nowadays a degree in business, economics, engineering and lots of other subjects will make you just as relevant and qualified. You can find a place to work where you can make a difference – by being you and where there are now equal opportunities for everyone. That wasn’t the case when I started. Back in the 1980s it was expected that women’s careers would end when they had a family. We now have flexibility – and more genuine balance. The industry now attracts a wide range of people – there’s not been a day when I’ve not enjoyed the company of colleagues and clients and that’s so important for enjoying your job. Don’t take my word for it – go and speak to people who work in it, in lots of different areas, from private firms to private equity to the public sector. And there’s no expectation your career will be linear. In fact, I encourage you to do many things: experience overseas market places. Think about all the alternatives to offices, shops and sheds. You might follow me into life sciences, or data centres or senior living – after all Mummy and Mummy will want a nice place to live! Best, Emma To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews Main image: Tatiana Syrikoåva/Pexels