The History of Globe International Holdings in Nigeria

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1 The History of Globe International Holdings in Nigeria Mr. Yaakov Chai was involved and was engaged in a wide range of business activities throughout the world through a group of companies headed by the GLOBE INTERNATIONAL HOLDINGS GROUP. In addition to the his Group's traditional business which is construction, infrastructure and property development, the Group has expanded its business to include industrial activities, high tech and provision of professional management and marketing services, supply, operation and installation of equipment in the fields of Education, Security and Communications. Globe has major centers of operation in Nigeria, Israel, Germany, Turkey Bulgaria and the United States of America. Construction Activities in Nigeria The Group s construction projects include; low cost, Medium Income and High Income housing schemes, Blocks of Flats, Office Blocks, Shopping Malls, Markets, Hospitals, Industrial Parks, Factories, Road construction and infrastructures such as water and electricity supply and distribution. Real Estate HFP Engineering (Nigeria) Limited the Group s subsidiary in Nigeria, initiated a property development strategy that provided the Company with a substantial portfolio of first choice real estate projects in Lagos including the following commercial and residential properties: Victoria Garden City A comprehensive neighborhood of over 2.3 million square meters by the Lagos Lagoon, consisting of residential, commercial and public service areas. Planned for 2,500 housing units of various types and catering for a population of about 30,000. As at the end of 2006, most of the plots had already been sold and there are over 1,400 families in residence in addition to numerous commercial buildings and places of worship. The city is perfectly finished with modern infrastructure facilities such as roads, drainage, water and telecommunication systems and services as well as a Shopping Centre, 2 recreation parks and a state of the art Sports, Leisure and Life Style Club.

2 Dolphin Estate Dolphin Phase I A project targeted at the upper medium income class and built at Dolphin Estate near Ikoyi. It consists of 646 duplexes of four bedrooms, each with an area of 150m². The total built up area in this phase was 102,068m². Dolphin Phase II Having executed Phase I of the Dolphin Project in 1991 for the Lagos State Development and Property Corporation, HFP was awarded the construction of Phase II of the Dolphin Project. This phase included 236 four bedroom duplexes, 440 three bedroom flats and 136 flats of two bedrooms each. The project was completed in In both phases of the Dolphin development, H.F.P. was responsible for the entire infrastructure: sand filling, power, water supply, sewage systems, roads, pavements, fences, drainage and street illumination. Dany Estate This is a private low density residential estate consisting of 37 high class Duplexes of 4 bedrooms each. It has well maintained and illuminated roads with excellent drainage facilities, borehole with a water treatment plant, tennis court, squash court, swimming pool, exclusive clubhouse and a stand by electricity generator.

3 Ikota Shopping Complex This is an ongoing shopping complex being constructed by HFP next door to Victoria Garden City. It is planned to comprise 2,900 shopping units on completion with parking facilities for up to 1,000 vehicles. The first phase of the Complex comprising over 1,700 shops has already been commissioned and many businesses have also commenced operations. VGC Shopping Complex This is a specially constructed complex dedicated to the shopping and office space needs of the residents of Victoria Garden City, suitable for use as offices by various professionals. It is now a fully occupied and vibrant business location. Dolphin Shopping Complex Dolphin Shopping Complex is located on the boundary of the high brow Ikoyi area in Lagos State, Nigeria. It comprises a total of 120 exquisite shopping units each complete with its own facilities. Also in place are a standby power supply and ample parking spaces. Mayfair Gardens Based on the success and insatiable demand created at VGC, the Globe Group commenced the development of another unique estate known as Mayfair Gardens to cater for the need of middle income earners desiring the quality of life and security to be found at VGC. This is a uniquely planned mixed development estate modeled on Victoria Garden City comprising 500 semi detached and fully detached bungalows, 800 serviced plots, as well as commercial and public institutional sections.

4 Civil Engineering One of the main activities of the Globe Group is the successful design and execution of various civil engineering and construction projects. The Group has been able to record this success through its wholly owned subsidiary, Globe Engineering (Nig.) Ltd. Infrastructure Having recorded resounding success in the construction of residential and commercial projects in Nigeria, the Globe Group with the support of its factories expanded the scope of its activities to other infrastructure projects including the design and construction of roads, drainage and waterworks as well as the design and installation of electrification infrastructure. Having observed the non durability of the use of asphalt in road construction in Nigeria, the Group undertook to construct, maintain, rehabilitate and improve roads in its various areas of operation using inter locking paving stones that are low cost and more durable. It also decided to introduce the use of Pre fabricated gutters and slabs for constructing drainages. This method has been successfully used in constructing roads, sidewalks, parking spaces and drains in Lagos, Bayelsa and River States. The Group also got involved in several projects for power distribution and infrastructure for electrification of newly developed areas in Nigeria. This included high and low voltage distribution network, Step down transformers and Main Feeder lines. Hotel and Leisure Globes activities over the years expanded to include the design, development and operation under the name Meidan Hotel and Apartments, of 2 Hotels situated inside Victoria Garden City (also known as VGC) in Lagos, Nigeria while the Group also constructed a 3rd hotel building located at Port Harcourt City in Rivers State. All 3 hotels were recently sold after being successfully nurtured into a profit making and well established enterprise. Telecommunication The expertise and experience of Globe also extends to this sector in which it became a major player within a very short period through its former communications subsidiary, VGC Communications Limited ( VGCCL ). Today VGCCL is one of the leading Private Telecommunications Operators (PTO S) in Nigeria with a Private Networks Links Licence allowing it to provide service anywhere in Nigeria and extensive operations in Lagos State, Abuja (FCT) and Port Harcourt, Rivers State. VGCCL is also licensed to provide satellite bandwidth and international gateway services to other PTO S and major companies. In addition to the state of the art domestic and international telephone services VGCCL now provides fast and high quality internet and data services as well as satellite and international gateway services. VGCCL also fixed fibre optic wireline services to thousands of subscribers at its points of presence. This company became so successful and profitable that the Globe was able to sell it at a substantial profit to the MTN Group at the end of Water Services Globe is a major player in the water production and distribution industry through one of its subsidiaries, Victoria Water Services Limited. This subsidiary caters for the water needs of Victoria Garden City, where it owns 2 Water Treatment Plants with a combined water treatment capacity of up to 200 cubic meters per hour and a combined storage capacity of 1,200 cubic meters. It is also the water production and supply company at the new mixed development project of HFP known as Mayfair Gardens, with a Water Treatment Plant with a treatment capacity of 100 cubic meters per hour and a storage capacity of 800 cubic meters. Industries: Through its former subsidiary CAMP Industries Limited ( CAMP ), Globe was able to display its expertise and experience in the manufacturing sector. CAMP is engaged in the manufacture of high quality home and office furniture, paving stones, kerb stones, building blocks, metal and aluminum products. It has a state of the art furniture making factory that is the envy of everyone involved in the industry. This is another business venture established by the Globe Group that became so successful that Globe was able to sell it at a substantial profit over 2 years ago.

5 Victoria Court Cemetery As part of its pioneering role in the construction industry, the Globe Group through its subsidiary Victoria Court Limited designed and developed Victoria Court Cemetery as the first privately owned Cemetery in West Africa. Victoria Court Cemetery was built by HFP in a serene and visitor friendly environment complete with round the clock security, gardens, irrigation facilities, ceremonial halls and workshops. It is now the final resting place of choice for departed loved ones. VGC Maintenance The infrastructural standards at VGC are comparable to those in the U.S. and England: interlocking paving stone surfaced roads, storm drainage, pavements, walkways, two recreational parks, street lighting with underground cables, electrical services, a treated water supply (24 hours a day, 365 days a year), and advanced telephone and Internet services. In order to achieve the phased development of Victoria Garden City within the timetable and budget, H.F.P. with the support and cooperation of the local authorities, set up an efficient estate management scheme to ensure proper maintenance, including street light repairs, road clearing and maintenance, gardening, and refuse collection. In addition, H.F.P. provides 24 hour security for the entire city. Feel free to contact us for further information Contact us