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Digital Disruption Gains More Momentum in Real Estate Investing
New technologies are paving the way for a growing segment of retail investors.
30 March 2021
Michelle Wong, Executive Director, ULI Singapore
The Women’s Leadership Initiative (WLI) was invited by JustCo to gather a few Women in PropTech and Real Estate to share their unique journey. In similar fashion to a PechaKucha format, the women were asked to share a bit about themselves, the lows and highs of their journey and what’s next for them. Aligning with the International Women’s Day theme of #ChooseToChallenge, they also shared about what they have challenged and what came from these decisive moments.
Lu Liu, Co-founder and COO of JustCo, focused her sharing around the importance of diversity in running a successful business in a multicultural region. By thinking globally while acting locally, she was able to build the businesses leveraging strategic local partners to amass over 100,000 members across eight countries. She also shared that she placed emphasis on integrity, attitude and experience when hiring talent for her growing workforce.
In contrast, Choo Oi Yee, Chief Commercial Officer of iSTOX shared the major influencers and drivers that shaped her career journey. From her conscious choice of dedicating more time on social activities in University to the serendipitous moment when she was able to correctly answer an unexpected and irrational interview question, we were taken through the milestones and her reflections at each of these pivotal moments. While she has had to endure misogynistic comments, she also, by actively networking with colleagues and clients, built up “a village” of supporters who today are also notable leaders. Oi Yee generously summarised her hard-earned lessons into a few key points for us to consider, while also pointing out that there was still much to be done. The sobering fact was that the female representation in Singapore boardrooms was lower than those in China, Malaysia, Hong Kong, and Indonesia.
Sara Villarreal, Chief Operating Officer of 8M Real Estate shared a quote by Hunter S. Thompson which underpinned her choices: “Anything that gets your blood racing is probably worth doing.” She entered the United States Military Academy before making her way to China – her dream after having read The Good Earth by Pearl S. Buck. She immersed herself into its culture and saw a business opportunity which led her to start up her own multi-label apparel boutique. While she would have preferred to be lauded for her keen business acumen, she was instead highlighted by the media as a fashionista. She spent time working for relief shelters in China before making her way to Singapore where she joined 8M Real Estate. In the audience that evening were her husband, and colleagues whom she gains much support from, including her boss and founder of 8M Real Estate. She pays it forward by being a mentor to other women, one of whom was also in the audience. Now mother to a baby boy, Sara is moving back to USA by end 2021 to provide her son with the same foundation and support she enjoyed as a child.
Wee Su Lin opened her story with an adorable drawing by her son of his mommy in a construction helmet. With a master’s degree in architecture, she started her career in the Urban Redevelopment Authority before moving to private sector. She showed us photos of her experience working on notable developments and the real struggles of bringing drawings to life. Throughout her career, she was constantly working in a male-dominated environment and is accustomed to it. She learned that while there may be an expectation for a woman to fit into a certain mould, she chose to focus instead on developing herself by diligently applying herself towards her goal, to keep an open mind while surrounding herself with smarter people, and to be mindful of egos along the way. She shared that there is a degree of luck involved in attaining success which can only be realised if one is ready to work hard to seize that opportunity.
We thank these amazing ladies for their candid reflection and for inspiring us, male and female, to #ChooseToChallenge obstacles, bias and self-doubt so that we can collectively create a more inclusive world for ourselves and for the next generation of industry and community leaders.
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