The real estate sector – which includes a whole gamut of professionals such as engineers, designers, architects, construction and management professionals, CRE, FM, sales, etc. – constitutes 16% of our GDP and employs four million people. It is an industry that has been growing at a steadfast pace of 8% (as of 2018).
We have over 4.5 lakh engineers and architects graduating from our colleges every year, and yet one of the biggest problems this sector is dealing with today is that of skill shortage. Given that 60% of all graduating engineers in India are termed unemployable, that is a problem in itself.
Adding to this, we also face a problem with how gender is perceived in the industry. Of the graduating engineers and architects, around 30% are women. However, that percentage dwindles to merely 12% when it comes to the workforce. And even less in leadership. The current statistic is 2% in real estate and construction.
The problem lies at many levels. There is a need for women-friendly workplaces and practices; at the same time, there is also a need to guide, mentor, impart skills, encourage, build visibility and champion women through their careers.
This is where we at WiREnet bring the vision to make a difference. We believe we can improve diversity in real estate through mentorship, knowledge sharing, career guidance, increasing visibility and bringing positive role models for women.
The real estate and construction industry in India is one of the most important sectors in the country, contributing significantly to the country’s economy, and it is the third largest employer (after agriculture and manufacturing). By 2040, the real estate market is expected to be at 9.3 bn US dollars. However, according to a study by the International Labour Organisation, women’s participation in the construction industry in India is less than 3%, with women concentrated in unskilled and low-paying jobs.
Another report by the National Real Estate Development Council (NAREDCO) suggests that while women make up a significant portion of the real estate workforce in India, they are under-represented in leadership positions. The report found that women represent only 5-10% of leadership positions in the industry.
In addition, a survey conducted by Women in Design and Construction (WIDC) found that women in the real estate industry face a range of challenges, including gender bias, lack of support, and discrimination. The survey also found that women often struggle to balance work and family responsibilities, limiting their career growth opportunities.
Overall, while there is a growing awareness of the need for greater gender diversity and inclusion in India’s construction and real estate industry, there is still a long way to go in achieving gender equality in the sector.
However, despite the significant contributions made by women in this industry, gender diversity in the workplace continues to be a significant challenge. The industry is still male-dominated, with women being significantly under-represented.
Creating a gender-diverse networking group for women in the real estate and construction industry in India is crucial for several reasons. First, it will provide a platform for women to connect and collaborate, share ideas and experiences, and support each other in navigating the industry’s challenges. This will create a sense of community, where women can come together to find solutions to their problems, discuss their successes and failures, and learn from each other.
Secondly, the networking group can serve as a forum for women to discuss gender-related issues in the industry. For instance, there is a persistent gender pay gap, a major issue affecting women in the industry. The networking group can provide a platform for women to discuss this and other issues, and work towards finding solutions.
Moreover, a gender diversity networking group can help address the lack of representation of women in senior positions in the industry. Women currently hold only a small percentage of leadership positions, and this needs to change. By providing a supportive community for women in the industry, the networking group can help empower women and give them the confidence they need to pursue leadership roles.
Finally, creating a gender diversity networking group can help promote diversity and inclusion in the industry. By working together, women can help create a more inclusive industry, where everyone is treated with respect and fairness. This will benefit not only women in the industry, but also the industry as a whole, as it will lead to a more diverse and talented workforce.
In conclusion, the real estate and construction industry in India needs a gender diversity networking group for women; a networking group that can help empower women and create a more inclusive and successful industry.
About WiREnet
Women in Real estate network (WiREnet) is an association for women professionals in the Real Estate industry registered as a non-profit society.
Originally started in the year 2018, WiREnet was formed by a group of seasoned, established and empowered women professionals in the field of Real Estate and Construction industry with more than 150 years of cumulative experience.
Their common vision: is to connect, collaborate, catalyse and transform the built environment industry, where access to mentorship, networking opportunities, professional learning and growth could be offered to a diverse community of women engaged in the sphere of real estate. This includes architects, designers, technical subject matter experts, project managers, vendors, interior designers, marketers, leasing managers, and landscape designers or, in essence, ‘everyone’.
Over time WiREnet has succeeded in growing rapidly while connecting more than 200 women professionals representing varied domains like design, development, corporate real estate, facility management, law, academics, engineering, construction, project management and consulting. It is still on its journey of growth and has many milestones to reach on its long pathway but at least the journey has started.
At the core of its value system, WiREnet believes in creating equal opportunities for all, while strongly aligning with the idea of being diverse in thought, yet inclusive in decision-making. It aims to be the ‘voice’ for change and contribute towards the growth of all women in the field of real estate.
Being a member brings opportunities to network and collaborate and offers a strong platform that promotes learning through knowledge-sharing programs and the exchange of experiences.
The broader objectives for WiREnet include:
• Creating sector-wise mentor groups.
• Hosting knowledge sessions.
• Enhancing career opportunities.
• Leading community projects for impact.
• Contributing to research and publications in the industry.
One of the initiatives currently in-flight is the ‘Project for Change’. As the name suggests, this initiative hopes to create awareness on the issues of the labour workforce in the construction industry and subsequently propose ‘changes’ or solutions for providing a more dignified, equitable and inclusive environment for the female workforce therein.
A recent research report released by Primus Partners in collaboration with the World Trade Center Association reveals that only 7 million women in India are employed in the real estate sector as compared with 50 million men. This report further states that while policy changes are critical to improving workplace safety, providing gender sensitivity training and skilling initiatives for women at all levels, it also calls out specifically for mandating women’s gender inclusion in government contracts, setting up investment funds for women-led companies in real estate, and building an equality policy to ensure female representation.
WiREnet aims to take up many such initiatives in the future by operating as a conduit for change, thus helping to transform the industry together as a whole. If you would like to become a member or collaborate, you can reach out to: admin@wirenetworld.com I www.wirenetworld.org
Founders of WiREnet
Melinda Gates once said, “A woman with a voice is by definition a strong woman.”
The voice behind WiREnet belongs to:
• Fancy George: a veteran in the workplace and design industry. She currently heads the role of CEO at Thomas Associates Workplace Design.
• Laila Khalil: is a seasoned management professional experienced in global business operations and corporate real estate strategies. She currently manages Real Estate & Workplace Services for Salesforce India.
• Sunitha Kondur: a renowned architect, entrepreneur and a partner at the hundredhands design studio
• Aishwarya Nagalingaswamy: an astute project management expert, is currently employed as Senior Manager – Projects at VMware.
• Renuka Rajagopal: a proven Corporate Real Estate management professional, is the Senior Director – Workplace at VMware.
• Shobha Regunathan: is a market leader known to head the project management business for IPCs, and is also the Founder of Build ED, a management consulting and training firm.
• Devanshi Patel: a workplace, planning, and design expert, who is currently leading operational planning and Excellence at JLL India.