{"id":23895,"date":"2021-06-17T14:45:27","date_gmt":"2021-06-17T07:45:27","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=23895"},"modified":"2024-09-18T14:22:49","modified_gmt":"2024-09-18T07:22:49","slug":"singapore-real-estate-gets-a-glow-up-with-female-leaders-manning-the-industry","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/singapore-real-estate-gets-a-glow-up-with-female-leaders-manning-the-industry\/","title":{"rendered":"Singapore real estate gets a glow up with female leaders manning the industry"},"content":{"rendered":"

2021 PropertyGuru Asia Property Awards (Singapore) Jury Chairperson Kristin Thorsteins shares how businesses can further promote gender equality in the workplace<\/p>\n

\"\"
Kristin Thorsteins on the gender wage gap: “Motherhood is a penalising factor on a woman\u2019s pay; according to OECD, a woman takes a 7% pay cut for every child she has!”<\/figcaption><\/figure>\n

Historically, the real estate industry thrived in a\u00a0highly\u00a0male-dominated landscape\u00a0and\u00a0adapted much slower to gender parity\u00a0than any\u00a0other industry.\u00a0In fact, the\u00a0<\/span>National Association of Realtors<\/span><\/a>\u00a0revealed that\u00a0the first female agent was only allowed to join the organisation in the early 1900s and even then, women were\u00a0not entitled to participate in the real estate boards until the 1950s.<\/span>\u00a0<\/span><\/p>\n

As years passed, the industry grew to be more open to the idea, eventually recognising the importance of women in the workplace. A 2018 report by\u00a0<\/span>McKinsey Global Institute<\/span><\/a> stated that\u00a0<\/span>Singapore<\/span>\u2019s economy could\u00a0<\/span>add\u00a0<\/span>SGD26 billion (USD20 billion) if the city-state can successfully <\/span>accelerate gender parity<\/span> by 2025.<\/span><\/span><\/p>\n

To achieve this,\u00a0Kristin\u00a0<\/span>Thorsteins<\/span>, the\u00a0Head of Partnerships \u2013 SEA at IWG plc. and the Jury Chairperson for the 2021 PropertyGuru Asia Property Awards (Singapore),\u00a0said: \u201cOne of the most important actions to increase gender parity is reducing the gender pay gap, which still persists and is caused by a multiplicity of factors.\u201d<\/span>\u00a0<\/span><\/p>\n

For one, motherhood substantially affects how much a woman gets paid, particularly with the number of children. According to the <\/span>Organisation for Economic Co-operation and Development (OECD)<\/span>, a woman takes a seven percent pay cut for each child she has.<\/span>\u00a0<\/span><\/p>\n

To close this gap, the mother and the father will both have to adjust and share greater<\/span>\u00a0parental<\/span>\u00a0responsibilities between them<\/span>. She a<\/span>lso a<\/span>dded that \u201ce<\/span>mployment policies\u00a0<\/span>[providing]<\/span>\u00a0both paid maternity and paternity leave<\/span>\u00a0[can]<\/span>\u00a0help achieve gender parity by increasing the dad\u2019s participation in childcare and reducing gender stereotyping in childcare and domestic responsibilities<\/span>.<\/span>\u201d<\/span><\/span>\u00a0<\/span><\/p>\n

Down the right path<\/span><\/i>\u00a0<\/span><\/p>\n

Singapore is considered one of the most advanced countries in Asia \u2013 and for good reason.\u00a0<\/span>T<\/span>he\u00a0<\/span>country<\/span>\u00a0<\/span>h<\/span>as<\/span>\u00a0taken massive strides in pushing forward climate action<\/span>\u00a0an<\/span>d im<\/span>proving the quality of life of its citizens<\/span>.<\/span><\/span>\u00a0<\/span><\/p>\n

In addition,\u00a0<\/span>Thorsteins<\/span><\/span>\u00a0<\/span>shared that\u00a0<\/span>the real estate industry ha<\/span>s\u00a0<\/span>also\u00a0<\/span>made progress towards equality,\u00a0<\/span>naming several women in high positions such as Wanshi Zheng of Frasers Property and Wei Leng Tang of Colliers<\/span>\u00a0who are \u201cfantastic role models for younger women aspiring for a career in this industry.\u201d<\/span><\/span>\u00a0<\/span><\/p>\n

However, she did admit noticing more women working in consultancy and asset management, yet still see under-representation in certain sectors, such as private investment funds.<\/span>\u00a0<\/span><\/p>\n

As f<\/span>or women\u00a0<\/span>who are\u00a0<\/span>interested in pursuing a career in real estate<\/span>,\u00a0<\/span>she\u00a0<\/span>wanted to<\/span>\u00a0<\/span>highlight that most women are under the assumption that hiring a career coach can\u00a0<\/span>help in\u00a0<\/span>advancing their careers.\u00a0<\/span>Although these coaches can serve as\u00a0<\/span>great\u00a0<\/span>sounding boards and can offer great advice<\/span>,<\/span>\u00a0she suggested\u00a0<\/span>looking for a spo<\/span>nsor\u00a0<\/span>within the industry or organisation instead.\u00a0<\/span><\/span>\u00a0<\/span><\/p>\n

\u201cIdentifying a sponsor can make all the difference.\u00a0A sponsor will advocate for you, assist you in gaining visibility within the organisation,\u00a0and fight to help you rise through the ranks. So don\u2019t be afraid to look for a senior-level person who has the power and position to open doors for you.\u201d<\/span>\u00a0<\/span><\/p>\n

Breaking gender norms<\/span><\/i><\/p>\n

Thorsteins<\/span> is among the women who have not only overcome gender barriers, but have also made valuable contributions to the industry. With over 15 years of experience in hotel and real estate development and advisory across Europe and Asia, she is a recognised leader in real estate, regularly sharing her insights as a panellist and speaker at several hotel & real estate investment conferences across the region. She is also a member of the Urban Land Institute \u2013 Hotel Development Council & Women\u2019s Leadership Initiative. <\/span>\u00a0<\/span><\/p>\n

Her predecessor,\u00a0Partner at SPARK Architects\u00a0Wenhui Lim\u00a0has\u00a0also\u00a0been devoting her time\u00a0to\u00a0transforming\u00a0the local\u00a0real estate landscape\u00a0by\u00a0advocating for\u00a0smart buildings\u00a0and\u00a0sustainable design.\u00a0She\u00a0remains\u00a0to be\u00a0a Jury for the Awards\u00a0and\u00a0was the first\u00a0female Chairperson of the Judges in the country.<\/span>\u00a0<\/span><\/p>\n

Other prominent female industry figures\u00a0returning as\u00a0this year\u2019s\u00a0judges are Carolina Fagnani, the Senior Director of Development in South East Asia and Pacific at Radisson Hotel Group,\u00a0and Joelle Chen, the\u00a0Sustainability Director of Singapore Landlease.\u00a0<\/span>\u00a0<\/span><\/p>\n

Year after year, the PropertyGuru Asia Property Awards (Singapore) celebrates real estate leaders that have made a significant impact in the industry. Celine Tang, the Group Managing Director of SingHaiyi Group Ltd., was the first woman to receive the prestigious PropertyGuru Real Estate Personality of the Year accolade in 2018. <\/span>Tang\u00a0makes up half of the renowned billionaire power couple in Singapore\u00a0who\u00a0has\u00a0been promoting corporate social responsibility in the sector and\u00a0has\u00a0<\/span>acquired millions worth of properties in Singapore and Asia over the years<\/span>.<\/span>\u00a0<\/span><\/p>\n

Kemmy Tan, the Chief Executive Officer of M+S Pte Ltd, also had the honour of accepting the award in 2019 for her leadership in developing outstanding<\/span><\/span>\u00a0projects that have raised the standards of living in the country.<\/span>\u00a0<\/span><\/p>\n

Diversity and recognition<\/span><\/i>\u00a0<\/span><\/p>\n

The diversity of the judging panel and Real Estate Personality roster is also echoed in the 2021 categories of the prestigious competition. With a wide range of segments covered, the 2021 edition has open categories for Best Mega-Scale Condo Development, Best Retail Development, Best Hotel Development, the never-before-presented award of Best Integrated WFH (Work From Home) Development, and much more.<\/span>\u00a0<\/span><\/p>\n

For over a decade, the PropertyGuru Asia Property Awards have been recognising exceptional developers, developments, and designs that strive to improve the quality of life of their communities. Individuals looking to honour firms and their leaders can show their appreciation by nominating them at <\/span>asiapropertyawards.com\/award\/asia-property-awards-singapore\/,<\/span><\/a>\u00a0whereas\u00a0interested participants can\u00a0register at\u00a0\u00a0<\/span>awardentrysystem.com\/register\/<\/span><\/a>\u00a0until 17 September.<\/span>\u00a0<\/span><\/p>\n

Supervised by<\/span>\u00a0third-party practice HLB Singapore Foo Kon Tan,<\/span>\u00a0eligible entries will be judged on 14 October<\/span>.<\/span>\u00a0The esteemed independent Judging Panel for this year also includes Atelier Ten\u2019s Henry Woon, Greg Shand Architects\u2019 Robert Greg Shand, The Dentons Rodyk Real Estate Group\u2019s Chua Shang Chai, and Surbana Jurong Private Limited\u2019s Dr. Teo Ho Pin.<\/span>\u00a0<\/span><\/p>\n

The\u00a0Winners and Highly Commended awardees will be\u00a0announced\u00a0on 19 November at the Shangri-La Singapore, where the organisers will host\u00a0a safely conducted black-tie gala dinner and awards ceremony.\u00a0The gala event and presentation will\u00a0also\u00a0be livestreamed across\u00a0the\u00a0<\/span>AsiaPropertyAwards.com\/tv-podcast<\/span><\/a> page and the Awards\u2019 official Facebook<\/a>, LinkedIn<\/a>, Twitter<\/a>, <\/span>and <\/span>YouTube<\/span><\/a> channels. Meanwhile,\u00a0<\/span>the History Channel,\u00a0<\/span>the Awards\u2019 official cable TV Partner, will be broadcasting the highlights of the programme for international viewers.<\/span><\/span><\/p>\n

For more information, email\u00a0<\/span>awards@propertyguru.com<\/span><\/a>\u00a0or visit the\u00a0official website:\u00a0<\/span>AsiaPropertyAwards.com<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

2021 PropertyGuru Asia Property Awards (Singapore) Jury Chairperson Kristin Thorsteins shares how businesses can further promote gender equality in the workplace<\/p>\n","protected":false},"author":9,"featured_media":23896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[638,110,736,1897],"class_list":["post-23895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-real-estate","tag-singapore","tag-women-in-power","tag-women-leader","news_country-singapore","news_author-gynen-kyra-toriano"],"acf":[],"yoast_head":"\nSingapore real estate gets a glow up with female leaders manning the industry | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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