CREW Up: Female CRE Leaders’ Top Concerns
Nearly 60 percent of women cited interest rates as their primary concern when it comes to escalating costs for commercial real estate projects and deals, with economic inflation and supply availability coming in second and third on female CRE leaders’ list. This was one of the main findings of CREW Network’s latest survey that covered global economic sentiment and a range of industry topics, including barriers to career advancement. Almost 1,000 professionals provided their responses in the fourth CRE Women Speak survey series that was distributed in December.
Overall, the report reveals that the number of optimists out there is dropping, with most women showing a sense of caution and anticipation about in the CRE industry’s performance this year and beyond. Three-quarters of the respondents expressed the idea of a prolonged recovery for office, some even expecting it to carry through the 2030s. Meanwhile, nearly a quarter of the women participating in the survey experienced improvements in the performance of retail space in their market or portfolio, while 48 percent reported that retail stayed about the same.
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In this podcast interview with Commercial Property Executive Senior Editor Laura Calugar, CREW Network CEO Wendy Mann also revealed that four out of five women in the industry admit they’ve encountered barriers to their career advancement. A boys’ club culture, the lack of retiring executives and the persisting pay gap were among the top challenges hindering women’s professional progression.
Press PLAY and listen to the entire conversation:
The goal of the survey (0:53)
Most striking results (1:38)
Global economic sentiment among female CRE leaders (3:33)
Top factors contributing to rising costs in commercial real estate (6:15)
Why the office market is “a train wreck in slow motion” (8:04)
Retail’s performance (11:33)
The broken rung in CRE (14:52)
Other challenges hindering the advancement of women in the industry (16:49)
Advice to CRE women professionals to navigate through challenges (18:31)
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