A new initiative has big plans to address the dearth of women in capital markets and commercial leasing teams.
Property Champions of Change, a coalition of property professionals from companies across the sector, has launched a pledge to create an industry standard that at least one woman is part of the bid and receiving teams on both sides of any transaction.
“So often at the moment, major deals in property take place without any women on either side of the table, and if we are to change that, we must collectively act,” said AMP Capital’s head of real estate Kylie O’Connor to an audience assembled in Hobart for The Property Congress.
Ms O’Connor unveiled the new industry pledge at the annual event alongside Phil Rowland, chief executive of CBRE’s Pacific advisory business, and Carmel Hourigan, Charter Hall’s office CEO.
Mr Rowland said the pledge was just one aspect of a five-point plan the group had developed to increase the involvement of women in two of the property industry’s most male-dominated areas.
Called “the pitch pledge”, they are encouraging senior leaders to make a commitment to ensuring that if their teams are not yet capable of meeting this requirement, they will be in future.
“We understand that given the current low representation of women in some existing capital transaction and leasing teams, there won’t always be a woman in the room right now. But this new pledge aims to change that picture over time in a collaborative way,” Ms Hourigan said.
“Importantly, we are not making this pledge because it looks or sounds good. It is about both sides of the industry, institutional and agency, coming together to make a difference and accelerate change,” she added.
In tandem with this pledge, organisations involved in Property Champions of Change have committed to establishing a cadet program in FY23 to take on 15 women at the start of their careers who will be placed in capital markets and commercial leasing teams in the associated companies.
ABOUT THE AUTHOR
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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