Globalis steps out with new thinking to redefine luxury real estate

…evolves strategy for developers to exit estate ownership

Globalis Real Estate Advisory has introduced a new thinking into the luxury real estate market, aimed at redefining what is offered as luxury by developers and investors playing in that space.

Globalis is a partnership providing institutional-grade real estate consulting and market intelligence for investors, developers, and institutions across global markets. It was set up with a mission to provide world-class real estate advisory and consulting services that empower clients and investors to make informed and strategic decisions.

The company has a vision to be the global benchmark for excellence in luxury real estate advisory, uniting innovation, trust, and bespoke service to shape the future of real estate investment and exceptional living across the world’s most coveted destinations.

Consistent with this vision, the company is bringing sanity into the chaos in the real estate market in Lagos, especially the luxury segment, where some developers seem to have derailed from the real concept of luxury and are delivering what is overly sub-optimal.

“We are out to clean it up and make it functional, so that people can live well and enjoy their investment,” Frank Oti, Globalis chairman, explained in Lagos at the weekend.

Oti, who spoke at a private investor forum, an exclusive gathering of visionary investors, hosted by the company, noted, “we find that there’s a niche that is not being well represented, and even when it is, developers are not giving investors the kind of information they need to make informed decisions.”

Besides ensuring that what developers put on the market as luxury meets global standards, Oti disclosed that they have a strategy in place to form a Homeowners Association for their clients that will ensure people pay money for property and enjoy their investment.

According to him, in any property they have the exclusive right to sell, such as Eleven by SV and 14 Bourdillon, there would be a transition strategy in place to ensure that, at a certain stage, the developer must exit the property and the Homeowner Association takes over.

“We are to create an avenue where, before you buy into a development, you will sign documents to show that you will keep to the rules and regulations of that development. So, it becomes a commitment to live in that neighborhood, to follow all the rules and regulations, and to understand what it means to live in an organized community,” he said.

“The Homeowners’ Association will implement the governance conditions and restrictions that will guide living in that neighborhood,” he added, citing California in the US, where, according to him, once the developer sells 51 percent of the units, he must establish a homeowners association that now owns the entire property.

“If the developer is gone, and he owns one, two or three units there, he becomes a member of the homeowners association and no longer the owner-developer,” he assured.

Earlier, Adeniji Adele, one of the partners, had noted that Globalis, as a new initiative, is not about facility management. “It is about demonstrating the knowledge of what it takes to deliver high-end properties for high-net-worth individuals, where they can have high returns and security of their investment.

“We are in this to change the narratives in the luxury real estate space; just give us a couple of years and you will see what is going to happen. Part of our objectives is to advise the most ambitious developers, investors, and governments on real estate strategies that shape cities.

The forum gathered people from diverse backgrounds, including estate developers, investors, traditional rulers, and top government functionaries. who commended Globalis on this new initiative that is expected to make a difference in the marketplace.

Obafemi Hamzat, deputy governor, Lagos State, noted that platforms like Globalis, are not only timely but also essential for fostering innovation, strengthening partnerships, and unlocking sustainable investment opportunities in the real estate sector.

Hamzat, who was represented by Abdulhafis Toriola, Permanent Secretary, Lagos Ministry of Housing, assured that the state government remains open and committed to partnerships that align with its development agenda, and continues to provide policy support and infrastructure backbone necessary to ensure that investments in the state are secure and impactful.