Cresco Real Estate: International Journey to Success and the Founder's Goals in Georgia

"Businesswoman, founder of Cresco Real Estate, mother of Gocha and Eva, wife, and philanthropist" - this is how Stella Bobylina introduces herself.

Born in Siberia in 1987, Stella moved to the United Arab Emirates with her family at the age of 7.

As she recalls, her interest in statistics, analytics, and, most importantly, real estate led her naturally to her current business. "I was the best in my class at statistics. Over time, I refined these skills and began to employ them in critical thinking projects," Stella tells us.

In her interview with Entrepreneur, she mentions that her interest in private property began when her parents opened a hotel after moving to the United Arab Emirates. As a 7-year-old, she watched the preparations with great curiosity, and even got involved in promoting the hotel, taking an interest in details such as choosing curtains, restaurant accessories, and dishes for the menu.

"My childhood dream was to create something meaningful, and I took inspiration from my parents. Their business was very popular and so, from an early age, I had the best mentors. My father was a highly successful businessman," Stella explains.

The future career of Cresco Real Estate's founder thus had a solid foundation from childhood, though she could not have imagined then that she would one day become the head of such a large international company. She pursued her education in management at one of the UK's top universities, the University of Warwick, where she graduated with success before venturing into the world of work in London.

"I earned a degree in management. I was ambitious, motivated, and determined to climb the career ladder," she says. "After graduation, I started working at an oil company, in a role that involved management responsibilities. Even now, I remember believing I would reach the highest position in the corporate hierarchy and then establish my own company. I knew I needed to start from the bottom and learn to run a business step by step. I was a bit naïve, but very hardworking."

In 2014, Nika Gogia founded Cresco Group in Dubai. By then, Stella had decided she had already learned what she could in her first corporate job, and was ready for a different experience. So, she joined Cresco Group, a company focused on investments in petroleum products.

Stella, having traveled extensively throughout her life, had connections in various countries, and as she gained experience in the real estate sector, she says, she noticed a significant issue in expert-level service within the real estate market, in particular, a lack of expert analysis. This led to her decision to establish Cresco Real Estate.

"Despite the many important and interesting projects I worked on, my passion for private property took precedence. This is how Cresco Real Estate was born. When I lived in the Emirates and the United Kingdom, I loved exploring apartments and villas. The houses in these two countries are very different. Additionally, my international network of contacts played a significant role - since childhood, I've been in an environment where people are frequently searching for housing. My love for people, communication, and private property ultimately led me to create Cresco Real Estate," she tells us.

The real estate market is vast and diverse, and Stella quickly recognized the importance of having comprehensive approaches in such a large industry. She decided her company would fill the gap, providing customers with fast, up-to-date insights and analytics – and this, she claims, is what makes Cresco Real Estate stand out from other players.

"Our team is made up of strong professionals- for example, we have an economist with a PhD in data science and analytics. I think we're the only company to provide an in-depth analysis of the market to investors before proposing a business offer," Stella explains.

Further, Cresco is a member of Realtors International, represented in 69 countries around the world, which means they operate to the highest standards.

Another aspect that sets the company apart in the market is its social responsibility policy and eco-friendly practices. Taking care of the planet is very important to Stella and the entire Cresco team, and this is reflected in their work.

"Cresco remains committed to its approach to sustainability and eco-friendliness. We have various strategies to ensure this. For example, the implementation of the latest technologies - Cresco uses green technologies to improve the sustainability of our projects," Stella explains in her interview.

Cresco plans collaborative projects focused on sustainable development with other industry leaders, including leading environmental organizations and government institutions to help raise standards and introduce eco-friendly practices in the industry.

For Stella, as an active philanthropist, participation in charity is also important. She has participated in the Terry Fox Run and Free to Run marathons, and is a member of Rotary International, an organization that has supported the development of local communities for over 100 years.

For Cresco Real Estate, the main goal is to provide services to companies to ensure that project execution is a flexible process, free of issues. Although Cresco serves a broad range of sectors within the private property industry, it ensures that its services are of the highest quality for all companies, knowing that even companies from different industries recognize the importance of investing in real estate.

Another segment using Cresco Real Estate's services sees families searching for private property for personal purposes. Finding a new home, adapting it to personal needs, and moving in can often be stressful, and Stella says their services help their clients through these challenges.

"When I communicate with a customer, I am fully engaged in the process. I view the purchase process from their perspective. This is not just my approach - it's how our entire company operates. We maintain a close relationship with customers because we understand the importance of buying private property."

Cresco successfully operates in several countries, including Georgia. For Stella, encouraging investment in the country is not only a professional interest - her husband and children are Georgian, and Stella herself is a Georgian citizen. Therefore, contributing to the country's economic development is a personal passion for her.

She notes that the Georgian market is very dynamic, and expanding the portfolio here is "an intriguing process." Just as in the global market, the expert knowledge of Cresco Real Estate's team is significantly reshaping the landscape in Georgia too.

Working in the global market has given the Cresco Real Estate team diverse experience. Stella notes that with this extensive experience and knowledge, her team is able to provide customers with expert analysis that many other companies cannot offer.

"When customers come to us, they can be sure they will receive the best service, best analysis, and the most accurate calculations in the market," she says.

The key to offering the best service across different cultural and social environments is in-depth market research and attention to each and every detail. Countries vary in lifestyle, social norms, economic factors, and legal frameworks on private property. The Cresco team studies all these aspects thoroughly and provides a service fully adapted to each client's needs.

Risk management and proper insurance are also crucial, and Stella explains that when making forecasts, the focus is on diversifying investments across different asset types. Cresco's operations in the global market provide clients with opportunities to invest in other countries based on conditions considered appropriate by the company's analytical calculations.

"Thorough market research and analysis are critically important to Cresco. Each case is considered individually, and investors are not offered just one solution - we always provide a range of options, each with its own potential risks. Our decision-making process is transparent, and we ensure nothing is hidden from the customer, so as to prevent future losses," she explains.

Stella Bobylina values democratic, decentralized management, and says that her company follows these principles. She believes that in the complex real estate industry, the involvement of each team member is the key to success, seeing each team member working with interest, passion, and responsibility – and when they do, she notes, success will surely follow.

"I believe in coaching, and leadership based on this approach. Although this method has gained popularity of late, it has always been part of my managerial philosophy. At Cresco, continuous development and sharing of expert knowledge are essential to progress and success," she says.

At Cresco Real Estate, initiative and self-organization are highly valued and are integral to the company's culture. Stella emphasizes that the organization strives to create a motivating and comfortable environment for its staff, supporting new initiatives and forming the perfect workplace for them, one in which professional growth and development are a priority. Indeed, Stella notes that each new employee is assigned a mentor when they join the company, a practice which ensures a welcoming environment, provides support, and helps new team members grow confidence in their abilities.

Indeed, Stella says she finds great motivation and inspiration in building relationships, communicating, and exchanging information.

When asked what advice she would give aspiring entrepreneurs or managers, Stella responds: "Always keep your focus on your goal. You may encounter many obstacles on the road to success, but you must work to overcome them, learn from them and, most importantly, never give up."

Stella herself exemplifies the importance of continuous development. She actively applies this principle within the company, keeping them up to date with innovations and technological trends.

In the real estate market, it is essential to stay ahead of the competition and take advantage of new innovations. This is especially important for the Cresco Real Estate team, which handles a substantial amount of analytical data and must continually adapt to new technologies coming into the sector.

"I am convinced that technological innovation makes work more effective. Cresco specializes in analytics - we process and deliver information to our customers in a usable format. Technological progress allows us to process data promptly and deliver it effectively," Stella explains.

Stella says she is particularly interested in several trends in the modern real estate market. Notably, there is a change in society's perception, she notes, with private property today being viewed as a prime investment. Additionally, digitization trends - such as innovations in marketplaces and tools like CRM systems, virtual 3D tours, drone videos, and chatbots - create opportunities for providers to digitize the property search process. Payment terms and customizable plans also play an important role in increasing demand. As just one example of Cresco Real Estate's moves in this regard, the company is currently working on developing a blockchain system to simplify international transfers for both consumers and developers.

Customer feedback is vital to the Cresco team, as it drives their motivation and inspires their belief in their core principles.

"Customer feedback is crucial not only for our marketing department but also for our analytics team. Experts who receive positive client feedback are rewarded," Stella notes.