Women's leadership in today's real estate world: a new perspective

In Romania, the share of women holding management positions in 2021, the latest solid data available, was 34%, one of the highest levels in the European Union, according to the European Institute for Gender Equality. Women’s leadership is an increasingly important element in Romania, and this is clearly the case at Globalworth, a company with an even higher percentage of women in management roles: 46%.

By Aurel Dragan

Globalworth is a leading real estate group operating mainly in Poland and Romania, the two largest markets in the CEE, with a focus on class A office and other high-quality investments. It has 72 standing properties across CEE, with a EUR 3.1 billion gross asset value (GAV), of which EUR 2.4 billion are green GAV, composed of 52 green standing certified properties, accounting for 87.1% of the commercial portfolio by value. The portfolio proved its resilience in 2023: according to the latest available figures, the company recorded an adjusted normalised EBITDA of EUR 66 million in the first half of the year, 4.1% higher than in H1 2022.

Business Review talked to the management of Globalworth to find out more about the company’s leadership and organisational culture. First of all, we found out that the leadership that defines Globalworth’s management and inspires the team is based on open communication and exchange of ideas. It is a democratic approach that promotes collaboration and teamwork with the final purpose of creating an organisational climate of excellence. The company’s culture is focused on encouraging people to share their ideas and foster their confidence, while also supporting constructive feedback, even in sensitive situations.

This is how people can be challenged in a positive way in order to grow professionally and develop their personalities at the workplace. This approach creates sustainable and engaging environments and communities, where businesses can flourish and people can evolve.

“Leadership, from my perspective, extends beyond formal positions and rulebooks. Building an environment that values diversity, encourages teamwork, and makes decisions based on empathy is key. Leadership is not just about reaching the destination; it’s about ensuring that every team member of our team finds purpose and fulfilment throughout their journey,” said Raluca Ghica, Head of Workplaces.

Some may think that companies need to create special rules or make efforts to have a diverse management team, but not everybody feels this way. People at Globalworth believe in respect, diversity, and inclusion, principles that were embraced a long time ago, and having women present in leadership positions directly reflects that.

“It is also important to underline that Globalworth stands for excellence and evolution when it comes to leadership. It is not necessarily a matter of gender, but one of performance. Therefore, we believe that a woman in a leadership position is a natural occurrence once she is a professional that can make a change within the organisation. As a cutting-edge company, we have nothing to do with outdated ideas that there are things only men can do or that women have any limitations as transformational leaders,” company representatives say.

With almost half of the management team made up by women, who showed incredible resilience in challenging times like the Covid pandemic and brought extraordinary soft skills and professionalism, it is easy to understand why women leaders are so well integrated into the company’s culture.

“Leadership involves the ability to guide and inspire others with gentle strength, showing kindness, empathy, and understanding. A graceful leader creates an inclusive and collaborative workplace, recognising each team member’s contributions. This way we grow together, cultivate real connections, and leave a lasting impact through the elegance of one’s actions and the integrity of one’s character,” said Georgiana Oltenescu, Head of Marketing and Communication.

Or as Finance Lead Anca Mihalcea put it: “Unlocking individual brilliant abilities, highlighting expertise, and promoting collaboration—those are the key traits of leadership, in my opinion. It is all about sparking enthusiasm, building self-assurance, and weaving success through empathy, compassion, and appreciation. By cooperating, we may create exceptional work in which each person’s unique perspective is valued and their contribution shines.”

Projects for the community

Engaging and nurturing the Globalworth community is essential for creating an inclusive and productive workplace environment. The company recognises the impact that a vibrant community can have on employee satisfaction, retention, and overall corporate culture. They have organised many different initiatives, such as Super Woman—celebrating the remarkable women within their buildings, acknowledging their unique strengths with customised superhero icon tote bags. The goal was to honour their contributions and empower them by recognising their individuality and resilience.

“Empowering through mentorship, I believe in leadership that nurtures growth, fosters inclusivity, and opens doors to new possibilities. By guiding others towards their fullest potential, through empathy and collaboration, female leadership sets the stage for reaching the targeted goals,” said Ramona Dirlea, Deputy Head of Property and Facility Management.

The Coffee Talks initiative raised the opportunity to take the community on a tour of the buildings, during which they were offered the finest coffee the city has to offer and were encouraged to share ideas and experiences. The No Car Day initiative turned into a cool 2-week journey, exploring alternative means of transport for a positive impact on the environment. Also, in celebration of World Emoji Day in July, Globalworth motivated their tenants to embrace creativity in their communication by substituting traditional language with emojis. By implementing initiatives that resonate with employees and tenants, the company aims to create a sense of belonging and collaboration that goes beyond the traditional office space.

The future of women’s leadership

Romania is a country with an extraordinary capacity for development in all areas. In recent decades, it has demonstrated its ability to struggle against traditional mindsets and transform itself into a more mature society. This is also reflected in the gender equality topic, which, of course, is an issue all over the world. The new generation’s commitment to inclusiveness, sustainability, and diversity, among other factors, has resulted in a paradigm shift on many levels, including women’s positions in society.

“In the realm of leadership, sustainability isn’t just a goal; it’s the guiding principle. As women leaders, let’s champion collaborative thinking, embrace diverse expertise, and empower our teams to shape inclusive workplaces. True sustainable leadership isn’t about authority; it’s about the influence we wield to forge a better future together,” said Oana Cojocaru, Sustainability Director.

The goal is to shape the future of women in leadership. And, as proven by research in recent years, women can create more inclusive organisational cultures aiming to address the most difficult circumstances, such as environmental or humanitarian issues.

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