3 minute read
Women in Construction
INDUSTRY
WOMEN IN CONSTRUCTION
Our conversation with Equity Land Group’s Anita Verma-Lallian
When Anita Verma-Lallian and Smita Patel Mehta founded the Equity Land Group (ELG), there mission was simple: to educate women about the dynamics of real estate investing, specifically investments in land. Since 2020, the firm has not only raised and invested more than $15 million in land, but also has become a resource for women passionate about empowering investing and diversifying their portfolios. We sat down with the cofounder of the Phoenix-based firm to get her thoughts on today’s commercial real estate market and what role women play in its future.
Anita Verma-Lallian Give us a snapshot of the construction real estate market? What are you seeing out there?
The construction market is extremely active today. We are seeing construction prices increase and major shortages of materials. Phoenix is growing rapidly, so builders and developers are scrambling to quickly bring projects online. Permitting times are much longer as well since the municipalities are getting so many applications for permits. Overall, the construction market is very active, but there are delays and shortages which are causing projects to take longer to get built.
How did you get started in the industry? What’s your story?
I got started in the industry in 2008. It was a much different market at that time due to the recession. My family owns Vermaland, which is one of the largest landowners in Arizona. During the earlier part of my career, I did a lot of work in the solar industry; I worked with solar developers on our site and did some solar developments. In 2019, I co-founded SLM Land Holdings, which eventually transitioned into Equity Land Group. At ELG, we help smaller land investors invest in land purchases, and really try to empower female investors to invest in land. I started Arizona Land Consulting in 2020 and have helped clients find more than $30 million of land in less than one year. My clients range from individual investors, developers, home builders, industrial users, solar companies, and many others.
What are some of the biggest changes you have seen over the past few years?
After COVID, the real estate market in Phoenix changed very dramatically. The population has grown and several large companies
INDUSTRY
WOMEN IN CONSTRUCTION
Anita Verma-Lallian and Smita Patel Mehta.
have moved to Phoenix and created more employment opportunities. This growth is only going to exponentially grow.
Name some of the opportunities available for women in the industry?
Women don’t always have the same opportunities as men, but this is slowly changing. More and more women I work with are getting involved in land acquisition and development.
What challenges remain?
I think men mostly still dominate the industry, so being taken seriously can be a challenge. Our group is one of the largest land buyers in the west valley, so now people definitely take us more seriously. When we first started out this wasn’t always the case.
What’s the best piece of advice you have ever received?
Go with your gut and listen to yourself.
What’s the advice you would share with women just coming up in the industry?
Don’t be afraid to take risks. Study your market and do your due diligence; invest in the properties, and things will pay off later.
What’s the biggest lesson the past year has taught you?
You have to be resilient and adapt as you need to.
What’s the biggest item on your to-do list?
To become more involved in charitable contributions. CCR
