Commercial Real Estate Is Expanding DEI Initiatives

CRE companies are expanding diversity, equity, and inclusion efforts, according to The Global Real Estate DEI Survey 2022, which reports North American non-binary demographics for the first time.

Commercial real estate companies are broadening and deepening their diversity, equity, and inclusion (DEI) programs and initiatives, according to The Global Real Estate DEI Survey 2022. The annual report tracks corporate DEI practices and employee demographics for commercial real estate globally, across regions, and business types.

While almost all respondents are addressing gender or gender identity, firms are also now placing a higher degree of importance on other dimensions of DEI, the survey shows. The report also showed that 95% of respondents are addressing issues of DEI either by having a formal program or by enacting at least some initiatives and policies to improve the representation of women and underrepresented groups at their respective organizations.

Commercial Real Estate DEI Initiatives
(Source: ULI)

The DEI Survey 2022 represents more than 357,041 full-time employees, $2.34 trillion of assets under management, and a cross section of the commercial real estate industry in terms of size, region, and business classification. It brings together participation from 192 organizations who provided 210 submissions detailing their DEI practices in North America (81.4% of respondents), Europe (12.4%), and Asia-Pacific (6.2%).

The survey tracks gender, gender identity, race/ethnicity and nationality, and age across seniority and job functions in North America as well as gender, gender identity, and age across seniority in Asia-Pacific and Europe. It also provides insights into corporate practices in relation to DEI programs, recruitment, retention, training and development, inclusivity, and pay equity. It is created via a partnership between ANREV, INREV, NAREIM, NCREIF, PREA, REALPAC, and ULI, and conducted by Ferguson Partners.

Key findings from the Global Real Estate DEI Survey 2022 include:

DEI programs and measurable outcomes

  • 95% of respondents address issues of DEI either by having a formal program or by enacting initiatives and policies to improve the representation of women and underrepresented groups.
  • Among respondents that have a formal DEI program, more than 85% set qualitative and/or quantitative or measurable goals, and, over the next 12 months, 11.1% that do not say they plan to do so.
  • The main goals are increasing the representation of underrepresented groups at the senior level and improving employee engagement.

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