Less talk, more action: real estate must represent the country we build for

COMMENT Almost half of those working in the real estate sector received an independent or selective state school education. In contrast, just 12% of the UK population share the same education.  The UK has long spoken of the need to tackle socio-economic inequality; yet unfortunately it’s clear the real estate sector is yet to have done enough to make the difference. This lack of representation not only hampers our ability to attract and retain the best talent, but also our ability to engage meaningfully with the communities we serve and create truly inclusive places where all feel welcome.   As one of the largest employers in the UK, employing more than 550,000 people, the real estate sector has the scale and network to be a positive driver of change.  This opportunity is why Landsec committed an initial £20m to our Realising Potential Fund earlier this year. With this investment, we will support multiple programmes, including real estate bursaries for students from underrepresented backgrounds to support them in studying courses which are critical to the shaping of successful places, and providing paid six-month internships at Landsec for six to eight people a year.  Over the next 10 years, we aim to deliver an estimated £200m of social value and support at least 30,000 people from lower socioeconomic backgrounds towards the world of work. This is how we can help create an industry where the places we live, work and play are shaped by an industry that is truly representative of our communities.  This commitment to enhancing social mobility is not restricted to just our industry. By working with peers, suppliers, customers and charities, we at Landsec will work to provide disadvantaged groups with better access to the job market across a range of sectors, in addition to providing small grants from £500-£5,000 to local charities and community organisation tackling area-specific issues. By directly addressing barriers to access for underrepresented groups, businesses can make a tangible difference. This doesn’t need to be in a financial capacity – mentoring, skills sharing and opportunities for learning and employment are just as valuable – meaning businesses of all sizes can and must play a part.  We welcome the opportunity to support EG’s Future Leaders. In doing so, we hope to contribute to a more accessible sector for all.  We know there is no quick fix, but by working as an industry through action-driven initiatives we can truly address the role the real estate sector is playing in furthering social mobility across the UK, ensuring our future leaders represent the communities we serve, far better than we do today.  Jennie Colville is head of ESG and sustainability at Landsec