Globe Asiatique Early Years and Growth

Globe Asiatique started as a small real estate company in the Philippines. It was founded by Delfin Lee in 1998.

The company's early years were marked by a focus on affordable housing. This was a bold move, as the Philippines was still recovering from a major economic crisis at the time.

Globe Asiatique's growth was rapid, thanks to its innovative approach to real estate development. The company's first major project was the Tivoli Garden Residences in Mandaluyong City.

By the early 2000s, Globe Asiatique had already established itself as a major player in the Philippine real estate market.

Globe Asiatique Realty Holding was incorporated on November 22, 1994 by Delfin Lee, who envisioned the company would provide housing to people in the low to middle-income demographic.

The company's first residential housing project was the Santa Barbara Villas I subdivision in San Mateo, Rizal, launched in 1994, which was originally meant to house Lee's 300 employees but ended up building 3,500 houses.

In the 2000s, Globe Asiatique established several residential townships, including its flagship Xevera Homes in Bacolor and Mabalacat, Pampanga.

Globe Asiatique Realty Holding was incorporated on November 22, 1994 with Delfin Lee as its founder.

Delfin Lee had a clear vision for the company, aiming to provide housing to people in the low to middle-income demographic.

Globe Asiatique's first residential housing project was the Santa Barbara Villas I subdivision in San Mateo, Rizal, launched in 1994.

The project was a socialized housing project, originally meant to house Lee's 300 employees but ultimately built for 3,500 houses.

This massive development was made possible through the government's Home Development Mutual Fund (HDMF, also known as Pag-IBIG Fund) housing loan program.

This program helped make Globe Asiatique's low-cost housing units and lots more affordable for its target market.

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Globe Asiatique made a significant impact in the 2000s by establishing several residential townships, including its flagship Xevera Homes in Bacolor and Mabalacat, Pampanga.

The company's growth was marked by the construction of residential high-rises, with the first being the G.A. Tower Condominium I along EDSA in 2003.

In 2007, Globe Asiatique initiated the construction of the GA Skysuites, which was later renamed The Skysuites Tower.

The company's innovative approach to marketing was evident in its partnership with ABS-CBN, where it provided house and lot or condominium unit prizes to winners of the network's game shows.

Globe Asiatique also targeted Overseas Filipinos by buying television spots on ABS-CBN's best performing shows, which aired on The Filipino Channel.

By 2009, Globe Asiatique had established itself as a major player in real estate in the Philippines, with a record income of ₱502 million.

Globe Asiatique was receiving negative publicity in 2010 due to its transactions with the state-run Pag-IBIG Fund. This was related to housing loans being granted to "ghost borrowers" who bought housing units in Xevera Homes in Pampanga.

In 2012, executives of Globe Asiatique, including founder Delfin Lee, were charged with syndicated estafa (fraud). The case was elevated to the Supreme Court.

Globe Asiatique's founder, Delfin Lee, was arrested in March 2014. Lee was later released in September 2018 on bail after his charge was downgraded to simple estafa.

Globe Asiatique has several residential developments under its name, some of which are managed by its affiliate company Filmal Realty Corporation.

Xevera is the flagship township brand of Globe Asiatique, with four subdivisions located in Pampanga and Oriental Mindoro.

The three Xevera properties in Pampanga were acquired by Westchester Realty Corp. in 2020.

Other notable projects of Globe Asiatique include the Chateau Valenzuela complex in Valenzuela, Metro Manila, established in 2003.

The company also developed the Saint Monique Valais in Rizal in 2003 and the Golden City Business Park in Bulacan in 2005.

Globe Asiatique's high-rise residential projects along EDSA include the GA Tower Condominium I, which broke down in 2003, and the GA Tower II in 2005.

The company began construction of GA Skysuites in 2007, but it was foreclosed by the Rizal Commercial Banking Corporation in 2010.

Westchester Realty Corp. acquired the GA Tower condominium in EDSA Mandaluyong, which will have its grand launch this week, for P3.2 billion.

The GA Tower project offers affordable luxury with prices starting at P77,000 per square meter, which is up to 50 percent cheaper than in other projects within the area.

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Delfin Lee, the founder of Globe Asiatique, was charged with syndicated estafa (fraud) in 2012 for allegedly making Pag-IBIG grant housing loans to "ghost borrowers".

The case was elevated to the Supreme Court, and Lee was arrested in March 2014. Lee was later released in September 2018 on bail after his charge was downgraded to simple estafa.

Lee denied the allegations, maintaining that no houses were "double sold", and expressed willingness to settle the issue with Pag-IBIG.