The Chief Executive Officer of Barms and City Real Estate Limited, Bala Muhammad at the weekend said the company has acquired 10,000 hectares of land in Kuje – a suburb in the Federal Capital Territory—for its mass housing project in 2025.
Muhammad, an engineer who said this during the unveiling of the Zircon Luxury Estate in Abuja, said the nation’s capital faces a housing deficit of over 65 per cent.
He explained that the initiative is designed to provide affordable housing for Nigerians, particularly civil servants and business owners, through various financing options.
Muhammad stated that the firm has partnered with key stakeholders to ensure that the houses are affordable.
He said: “The Federal Mortgage Bank of Nigeria (FMBN): Offering loans of up to ₦50 million, the Federal Housing Loan Board:
Providing housing loans of up to ₦10 million, Alternative financing options, such as Sterling Bank: Enabling flexible payment plans tailored to individuals’ financial capacities.
“This project ensures affordability by allowing individuals to pay in small installments, making homeownership accessible to both salaried workers and business owners.”
He said the organisation was open to partnering with the Federal Government to address Nigeria’s housing deficit through innovative real estate solutions.
Muhammad noted that Barms and City has aligned its mission with the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration, which emphasizes housing for all and the creation of Renewed Hope Cities.
“Out of every ten Nigerians, only three are homeowners. This underscores the pressing need for innovative solutions to ensure more Nigerians have access to affordable housing,” he said.
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Wife of the Katsina State Governor, Fatima Radda said: “This significant stride will help contribute to the growth and development of Abuja Municipal and also bridge the gap between the government and private organisations in advancing President Bola Ahmed Tinubu’s Renewed Hope Agenda for housing in the Federal Capital Territory and beyond.”
Managing Director of Barms and City, Mrs. Jemila Musa said: “This year has truly been remarkable for us. With six projects simultaneously under construction, we have pushed boundaries, embraced innovation, and continued to set new standards in real estate development.
“We unveil not just a project but a dream brought to life. These five-bedroom terrace duplexes are more than homes—they are an experience, a celebration of luxury and modernity tailored for those who demand nothing but the best.”