Construction Unplugged with Jasmin Soravia

Please find below the transcript of our first video-podcast episode, translated into English:

Benedikt: Welcome to our video podcast "Construction Unplugged: Stories and insights from experts and visionaries".
My name is Benedikt Hasibeder, Co-founder of Turbo Mango, a marketing agency with a focus on the construction industry. Our interview partner today is Jasmin Soravia, managing director of Kollitsch-Soravia Immobilien GmbH, winner of the prestigious Cäsar Immobilien Award 2023 in the property developer category, supervisory board member, business economist and native of Carinthia.

Dear Jasmin, welcome, and thank you for the invitation.
Jasmin: Welcome to our premises.

Benedikt: Thank you very much. It is a really nice and pretty office here in the heart of Vienna.
Jasmin: Yes, thank you. We tried, and the location is great!

Benedikt: Today, we would like to focus on your journey, your expertise and your insights into the real estate industry. Our audience is already looking forward to learning from your experiences and gaining a deeper understanding of this dynamic industry.
First of all, we know that your family has a long history in real estate, dating back to the 19th century. Can you tell us what this heritage means to you and how it has influenced your career path?
Jasmin: To be honest, I didn't know that our history goes back so far. I originally come from the construction industry; my grandfather was passionate about construction and that passed on to my father and uncle. Even as a child, I always wanted to study construction and structural engineering. However, my father said that the men on the construction site wouldn't listen to a woman, so I studied business administration and switched to tax consulting before eventually returning to real estate. I have been working in this industry for over 25 years now and have never regretted it.

Benedikt: It can be challenging to balance a successful career and your personal life. How do you manage to have a certain work-life balance and what hobbies or activities help you with that?
Jasmin: I don't particularly like the term work-life balance because work is a part of life. I don't have any children, but my husband, who enjoys working himself, has always supported me. I don't see evening events that I attend as business events as a burden but as a joy. I don't really have any classic hobbies, I'm not very sporty. I find relaxation in nature and on annual holidays to Africa with my husband.

Benedikt: What unique perspectives do you bring as a manager in a traditionally male-dominated industry, and how have you experienced the development of the role of women in the real estate world?
Jasmin: In the beginning, there were few women in the industry, but that is changing. The real estate industry is becoming more and more female-dominated. Communication is different and often better when women are involved. A little female charm is good for every project. I believe that women often make a decisive contribution to the purchase decision, even if the man often pays.

Benedikt: You are involved in numerous prestigious projects. Tell us about one of your current projects and what you are particularly excited about.
Jasmin: We have several projects in Vienna and Lower Austria, including high-priced condominiums in unique locations. One of my favorite projects is Villa Knödelhütte, as it combines urban life and nature. I find this combination fantastic for relaxing.

Benedikt: Winning the Caesar Award is a significant achievement. What does this recognition mean to you, and how does it influence your future projects?
Jasmin: The award was a great joy and confirmation of my work over the past 25 years. It showed me that I was on the right track. Although it is nice, it does not directly influence my work, as I have high standards for myself and our projects anyway.

Benedikt: Networking is very important in your industry. How does networking help you in your work?
Jasmin: Networking is essential. We were able to acquire many of our projects through personal contacts, without traditional brokerage procedures. A good reputation and connections are crucial in the real estate industry.

Benedikt: You are committed to sustainability and digitisation and have highlighted the potential of artificial intelligence in the real estate industry. How do you think this technology will influence the industry in the next few years?
Jasmin: I hope that AI and digitalisation will become more widespread, even though the real estate industry is not the most innovative. There is still a lot of potential for improvement, especially in planning and sales. Technologies such as BIM (Building Information Modeling) should be used more.

Benedikt: How do you integrate technologies such as the Internet of Things (IoT) into your projects?
Jasmin: We use intelligent building technology to maximise energy efficiency, such as communication between photovoltaics and heat supply. Load management in e-mobility is also an issue. Large projects in Berlin show how far you can go, but for our smaller residential projects, we rely on practical solutions.

Benedikt: Given the current challenges in the real estate market, how are you adapting your strategies?
Jasmin: The high interest rates and construction costs, as well as the bureaucratic hurdles, are currently major challenges. Flexibility is difficult because real estate is inflexible. An improvement in regulations and processes is urgently needed.

Benedikt: The topic of sustainability is on everyone's lips. How do you approach the topic, especially with regard to new buildings and existing buildings?
Jasmin: With new buildings it is easier to plan sustainability from the start. With existing buildings it is more difficult, mainly because of monument protection and costs. Nevertheless, we try to implement sustainable solutions such as geothermal energy wherever possible.

Benedikt: If you had unlimited resources, which futuristic project would you carry out?
Jasmin: I would build the coolest skyscraper in the world and focus more on densification. There is a lot of potential, especially above the large stand-alone markets such as Obi and Spar.

Benedikt: How do you think the real estate market will develop in the next 10-15 years?
Jasmin: Mobility concepts will change, and the industry will become greener. The trend is moving away from single-family homes and towards more existing projects and the revitalisation of town centers.

Benedikt: What changes would you make as mayor of Vienna to improve the real estate landscape?
Jasmin: I would improve the regulations and processes to shorten the times. More participatory procedures and less power for neighbours who can delay projects would be important.

Benedikt: Thank you, dear Jasmin, for your valuable insights and experiences. Finally, do you have a wish or message for our viewers?
Jasmin: I firmly believe that better times will come. That is a positive sign for the future. Thank you for the invitation, it was exciting!

Benedikt: Thank you, Jasmin. We look forward to the future and to seeing even more of your innovative projects. Thank you very much!