Experts Advocate Global Standards to Boost Luxury Real Estate Investor Confidence in Nigeria
Real estate professionals operating under the umbrella of Globalis Real Estate Advisory & Strategy have issued a compelling call for the adoption of international best practices and enhanced access to accurate information within Nigeria's luxury real estate sector. This initiative aims to significantly boost investor confidence and accelerate market growth across the country's high-end property landscape.
Addressing Critical Information Gaps in Luxury Investments
Speaking at a private investors' forum organized by the firm in Lagos, Chairman of Globalis, Mr. Frank Oti, emphasized the urgent need to deepen the role of advisory and strategic services in guiding high-net-worth individuals toward informed investment decisions that maximize returns. Oti highlighted a critical market gap where investors frequently lack access to the quality information necessary for sound decision-making processes.
"We have identified a niche that is not properly represented in the current market structure," Oti stated. "Even where advisory services exist, investors are not receiving the comprehensive information they require to make truly informed decisions. Our primary focus is consulting for high-net-worth individuals specifically within the luxury real estate space."
Oti clarified that Globalis does not engage in property sales but instead offers specialized advisory and strategic services aimed at sanitizing the Lagos real estate market, improving overall functionality, and enhancing investor satisfaction levels. "Many individuals invest substantial resources but do not fully enjoy their properties due to structural deficiencies," he added. "We aim to introduce structure, transparency, and functionality to the market so investors can genuinely benefit from their financial commitments."
Strategic Approach and International Practices
The firm's methodology involves analyzing global real estate trends, aligning these insights with clients' wealth objectives, anticipating potential risks, and strategically positioning investors within the luxury segment. Oti further disclosed plans to introduce structured commitments for buyers in luxury developments, where subscribers would sign agreements to adhere to estate rules and regulations prior to acquisition, ensuring order and sustainability within such communities.
Currently, Globalis is working on three luxury projects in Lagos designed to meet investor demand and increase supply in the high-end market. Oti cited international practices, noting that in jurisdictions like California, developers are required to establish homeowners' associations once a majority of units are sold, thereby transferring control and management responsibilities to residents.
Repositioning Luxury Real Estate for Global Standards
Partner at Globalis, Mr. Adeniji Adele, emphasized the firm's intention to reposition luxury real estate by focusing on the expectations of high-net-worth individuals who demand international standards and secure investment environments. "In developed markets, high-end properties are specifically designed for investors who prioritize discretion, quality, and returns," Adele explained. "These developments operate under clearly defined rules and governance structures that ensure consistency and reliability."
Adele stressed that beyond basic facility management, investors must understand the comprehensive frameworks required to deliver premium properties that guarantee high returns and investment security. Regarding the rising cost of building materials, Adele, who also serves as President of the International Real Estate Federation (FIABCI) for Africa and the Near East Region, acknowledged the global nature of this challenge, driven partly by geopolitical tensions including conflicts in the Middle East.
Despite these economic pressures, development activities continue across the sector. Adele advised investors to carefully define project types, target markets, and financing models. "Regarding financing options, approaches such as crowdfunding can be explored, where investors pool resources to deliver unique, high-end projects that might otherwise be financially challenging," he suggested.
Government Support and Institutional Endorsement
Lagos State Deputy Governor, Dr. Kadiri Hamzat, represented by the Permanent Secretary of the Lagos State Ministry of Housing, Abdulhafis Toriola, described the forum as particularly timely given the evolving dynamics of global urbanization. He stated that platforms like the Globalis forum are critical for fostering innovation, strengthening partnerships, and unlocking sustainable investment opportunities within the real estate sector.
Hamzat reiterated the state government's commitment to supporting investments through enabling policies, infrastructure development, and institutional frameworks that ensure both security and profitability. "The Lagos State Government remains open to partnerships that align with our development agenda," he affirmed. "We will continue providing the policy support and infrastructure backbone necessary to ensure investments are secure, impactful, and financially rewarding for all stakeholders."
The event attracted numerous dignitaries including representatives of the Oniru of Iruland, Oba Abdulwasiu Omogbolahun Lawal; the traditional ruler of Amuwo-Odofin and FESTAC Kingdom, Oba Oluwatoyin Adetayo-Adewusi; President of FIABCI-Nigeria, Akin Opatola; former Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos branch, Gbenga Ismail; and partner, Dr. Adeniyi Tinubu.
