PHILIP BABALOLA Founder & CEO, UVEST Realty Ltd
Philip Babalola is a prominent real estate entrepreneur in Lagos. A young but vibrant practice known for his significant influence and mentorship among young people, especially Gen Z and millennials. As the Founder and CEO of UVEST Realty Limited and The Jungle by UVEST, his journey into real estate has been anything but traditional. Growing up in Oshodi, Lagos, he began with limited resources, but today he stands out as a leading voice in the industry, making a substantial impact.
A few weeks ago, Mr. Philip spoke with Isaac Abimbade (08155107955) about his journey in real estate. He shared insights on what sets him apart from other real estate players and companies. Additionally, he discussed how his contributions are positively affecting young people. Below are excerpts from the conversation.
Can we get to know you?
My name is Philip Babalola, and I am the CEO of Uvest Realty Limited. Our company was established as a real estate firm catering to Gen Z and millennials. When we started in 2021, many people viewed this focus as misguided, but I had a vision. I wanted to create opportunities for younger people to enter the real estate market, recognizing the potential within this demographic.
One of my key initiatives has been training young individuals to sell real estate. Interestingly, many of these trainees sold properties to their own parents and relatives as their first clients. This approach allowed us to strategically enter a market that has many established players. I believe our brand is disruptive and is pioneering several innovations.
Initially, it was challenging for younger people to engage in real estate, which was traditionally seen as a field for older professionals. To address this, we created a wide range of educational contents, including short-form real estate contents, which I can confidently say we pioneered. We’ve produced a lot of contents to help young people understand the importance of investing in real estate. I joke that if I were to shut down my company and pursue legal action against those who use our contents without permission, we might end up wealthier, considering some of our viral videos have been used by larger companies without crediting us. However, I take it as a compliment; if our content weren’t valuable, no one would be using it.
Currently, we are venturing into construction and, for the first time in the country, we are introducing a concept known as biophilic real estate. I have a deep appreciation for nature, and biophilic real estate integrates natural elements into building designs. If you visit places like Singapore, you’ll see skyscrapers adorned with greenery—this is the essence of biophilic design.
Through Uvest, we have successfully trained over 4,000 realtors. Instead of relying on existing real estate agents, we empower individuals to start their own careers in this industry. Many of the people I’ve trained have gone on to establish their own companies and excel in real estate sales.
In January, one of my realtors closed a significant deal, leading to a call from the boy’s parents. They wondered if he was engaging in illegal activities due to the commission he earned. I’ve received numerous calls from parents expressing gratitude for helping shift their children’s mindsets toward responsibility and financial independence. They are now contributing positively to their households by earning money for themselves.
Let me digress a bit. Are you practicing the career you studied in school? Are you fulfilled with what you’re doing now?
I am passionate about personal development because I have personally experienced its benefits. When I speak with individuals who are successfully making money through real estate or investors who profit from buying properties, it gives me a sense of fulfillment knowing that I started something that allows many people to make a living. This includes realtors, clients, and others involved in the industry.
Now, where do you see yourself in five years?
In five years, I envision that the positive changes I have been making in the real estate industry will have grown significantly. I believe my company will be well-known for the impact we’ve created. Just as I have pioneered various concepts in real estate, such as appealing to Gen Z—a trend that many are currently embracing—I foresee that my focus on eco-sustainable and biophilic real estate will lead to significant innovations. I want to redefine luxury; healthy living is what everyone desires, and this initiative will set a new standard in the country.
Are you disturbed by government policies at both federal and state levels?
Honestly, I don’t think there is any real estate developer who isn’t concerned. However, many developers have built resilience from facing various challenges, such as dealing with land grabbers (Omoonile). I don’t believe any real estate developer in Lagos or southwestern Nigeria is unfamiliar with these issues. These challenges have taught many of us to build stamina when dealing with the complexities of real estate in Nigeria. While there are valid concerns, the resilience we’ve developed helps us believe that solutions will eventually emerge. Personally, my priority is fulfilling my commitments to my clients, and I never back down from ensuring that I deliver on my promises, regardless of the cost to me. So yes, I acknowledge the challenges, but I trust that solutions will materialize, and everything will turn out well in the end.
How many projects have you completed?
I have delivered 13 estates across Lagos, Ibadan, and Ogun State.
How many are currently on the market?
I currently have two main properties for sale. Zamari Hills is a buy-and-build property located in Mowe, part of an existing estate. The second is Green Gardens, which is also selling and it shares boundry with Ogun State, in Omu. This is an investment property where buyers can purchase and hold. One of my groundbreaking projects is called the Jungle, a 100-acre property with the goal of creating the number one adventure theme park in Africa. There’s much I want to say about it, but for now, I’m keeping some details under wraps. We’ve organized events on this property that have attracted significant attention from major industry players. The experiences have been phenomenal, especially having over 3,000 people come to enjoy and walk through the forest.
Aside from the appeal to the younger generation, what do you think will attract people to your company?
This year, we have accomplished much more. For instance, we launched a property called Green Gardens in January, where we completed the allocations in just two months. Following that, we launched another property, Zamari Hills, and managed to complete the allocations in just one month.
However, it’s not only about the Allocations. We delivered gatehouse within that same month. After successfully delivering the Gatehouse for Green Gardens in two months, I challenged my team, asking, “If we were able to do it in two months, can we achieve it in one month?” I’m pleased to say that we did! Our subscribers were pleasantly surprised, especially since many of them have experienced long delays of two years or more when trying to acquire a property. We delivered our latest projects in just one month.
