Diana Nilipovscaia, a beacon of leadership in the international real estate landscape, brings a wealth of experience and a unique perspective to the table. As the Chief Executive Officer (CEO) at MERED, a rising star in the world of luxury real estate development, Diana is spearheading the company’s foray into the UAE market. Diana’s trajectory is a testament to her persistent commitment to quality and innovation, evident in her impressive 16-year career spanning several industries.
Diana’s professional odyssey began at ECE Projektmanagement G.m.b.H. & Co. KG in Germany, a renowned international commercial real estate management player. This early exposure laid the foundation for her future endeavours, instilling in her a deep understanding of the intricacies of the real estate landscape. Transitioning from commercial management to consulting, Diana honed her expertise further at Knight Frank, a globally recognised real estate consultancy. Here, she delved into strategic planning and market analysis, refining her skills in navigating the complex dynamics of the industry. In this captivating interview, she sheds light on her remarkable journey, astute observations of the industry, and her vision for the future.
Navigating the intricacies of a new market
Leading a business in a new market, especially in a competitive sector like Dubai’s real estate industry, comes with numerous challenges. Diana shared her thoughts and advice to aspiring leaders on navigating these complexities, “As a leader, I believe in the significance of setting clear and achievable goals, fostering a culture of innovation and collaboration, and adapting to unforeseen challenges with decisiveness.” She continued, “Effective communication, empathy, and transparency are the cornerstones of building trust and fostering a cohesive team environment. Additionally, it is crucial to stay ahead of the curve by embracing change and industry trends to drive the business forward. I view myself as a key player in a holistic system, fostering open communication, collaboration, and constructive feedback and aiming to create mutually beneficial opportunities for all stakeholders involved.”
The transformative power of women in leadership
As we celebrate International Women’s Day, we asked Diana how she perceives the evolving role of women in leadership and what unique qualities she brings to the table. She replied with enthusiasm, “In 2023, we witnessed a significant milestone with women leading approximately 10% of Fortune 500 companies for the first time. While this progress is commendable, it underscores the need for greater representation of women across all leadership tiers.”
She added, “Women leaders bring a distinct blend of human-centric, flexible, and adaptable leadership styles, often incorporating elements of transformational, participative, and democratic approaches. Their presence fosters diverse perspectives and broader viewpoints, ultimately enriching decision-making processes and fostering creativity within teams.”
Diana elaborated further on the key strengths women leaders bring to the table, including:
● Fostering an ambitious mindset: Women leaders actively challenge misconceptions about ambition, demonstrating equal dedication and commitment to their careers. In the real estate sector, female leaders excel with strategic foresight, effectively navigating market shifts and adapting to industry dynamics. Their dynamic engagement fosters an environment of creativity, encouraging innovative thinking and the exploration of new perspectives.
● Embracing a people-first philosophy: Women leaders are reshaping the leadership landscape by prioritising empathy and understanding the unique perspectives and contributions of individuals within their organisations. Reflecting Elton Mayo’s human relations theory, this approach challenges traditional hierarchical structures by emphasising the importance of individual characteristics and requirements. This approach fosters deep connections, a supportive atmosphere, and collaboration.
● Emotional intelligence: Women leaders often exhibit strong emotional intelligence, empathy, and collaborative skills, all of which are essential for navigating the complexities of the modern business world. Their representation in leadership positions is crucial for addressing gender disparities and creating more equitable workplaces.
Thriving in a traditionally male-dominated industry
The construction and real estate industries have historically been perceived as male-dominated. Diana emphasised her views on how women can navigate and succeed in such an environment, “While the global construction and real estate industry has traditionally been viewed as a male-dominated field, Dubai has emerged as a beacon of change. In recent years, we have witnessed a notable surge in female participation, with women investors contributing over AED 58.8 billion to real estate, marking a significant growth of more than 50% compared to 2021. This shift towards a more inclusive, progressive, and sustainable real estate landscape is heartening.”
According to Diana, the best strategies for women aspiring to succeed in this domain are:
● Advocating for gender equity and equality: By actively promoting diversity and inclusion within the industry, women can help create a more supportive and equitable environment for all. Lending your voice to advocate for change and supporting initiatives that promote diversity can contribute to positive shifts in the industry. It is crucial to remember that currently, only 7% of board seats in the GCC are held by women, compared to the global average of 20%. This highlights the need for increased advocacy.
● Knowledge is power: Continuous learning is crucial for making informed decisions in the real estate market. Confidence and assertiveness are essential, especially in male-dominated environments. McKinsey & Company’s report shows that companies with a senior leadership team of over 30% women tend to outperform less gender-diverse counterparts.
● Actively seek out mentors: The glass ceiling, an intangible obstacle for women in the real estate industry, hinders their progress toward higher success. This often stems from lacking mentors or role models who have excelled in similar positions. Therefore, aspiring female leaders should actively seek mentors and opportunities to showcase their skills and leadership potential.
The speaker emphasised the importance of demonstrating expertise, networking, advocacy, understanding organisational politics, and maintaining transparency and integrity in all aspects of the business.
While discussing the latest developments of her company in the UAE market and about her future expectations, she proudly answered, “MERED has launched its flagship tower project, ICONIC, in collaboration with Mirage and globally renowned Pininfarina, an illustrious name in architectural design. The ultra-luxurious tower offers 310 apartments and world-class amenities, including a private lounge and dining area, a gym, a cinema, an infinity pool facing the sea, a jacuzzi, a sauna, an ice spa, and much more.” Diana concluded, “MERED’s team of expert real estate professionals is committed to creating exceptional lifestyles that enrich customers’ lives, and its strong tech infrastructure, cutting-edge management systems, and highest building standards position the company for future innovative projects.”
