A real estate firm, Barms and City Real Estate Limited, has reaffirmed its commitment to partnering with the federal government to address Nigeria’s housing deficit through innovative real estate solutions.
Speaking during the unveiling of the Zircon Luxury Estate in Abuja yesterday, the CEO, Engr. Bala Muhammad, highlighted that Abuja faces a staggering housing deficit of over 65 per cent.
“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.
Incorporated in 2017 and headquartered in Abuja, Barms and City focus on developing affordable housing to reduce the nation’s housing shortfall, particularly in key cities such as Abuja, Lagos, and Port Harcourt.
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.
He revealed that, in collaboration with the Federal Ministry of Housing, the Tinubu administration has embarked on an ambitious plan to construct 10,000 housing units nationwide.
As part of its contribution to this vision, Barms and City has acquired 10,000 hectares of land in Kuje, Abuja, to launch a mass housing project in 2025. Muhammad explained that the initiative is designed to provide affordable housing for Nigerians, particularly civil servants and business owners, through various financing options.
He further stated that the firm has partnered with key stakeholders to ensure affordability. “The Federal Mortgage Bank of Nigeria (FMBN): Offering loans of up to N50 million, the Federal Housing Loan Board:
Providing housing loans of up to N10 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 added.
Muhammad emphasized that Barms and City’s upcoming mass housing project is a testament to the company’s dedication to bridging the housing gap and supporting the federal government’s vision for sustainable development and improved living conditions for Nigerians.
Earlier, the wife of the Katsina State governor, Fatima Radda congratulated Barms and City on their achievements.
She 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 organizations in advancing President Bola Ahmed Tinubu’s Renewed Hope Agenda for housing in the Federal Capital Territory and beyond.”
For her part, the managing director of Barms and City, Mrs. Jemila Musa, also expressed immense pride in the company’s achievements during the grand opening of the Zircon Luxury Estate.
“It is with immense pride and gratitude that I stand before you today at this momentous occasion—the grand opening of Zircon Luxury Estate,” Musa said.
She described the day as a significant milestone in the journey of Barms and City, marked by hard work, resilience, and an unwavering commitment to redefining luxury living in Nigeria.
“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,” she said.
Speaking about Zircon Luxury Estate, Musa stated, “Today, 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.”
As the ribbon was cut on the estate, Musa emphasized that the moment symbolized the beginning of a new chapter—not just for Barms and City but for the Nigerian real estate sector as a whole.
“Together, we are turning dreams into addresses and redefining what it means to live in luxury,” she said.
Also, Nigerian footballer Ahmed Musa, who serves as the ambassador for Barms and City Real Estate Limited, expressed his delight at the unveiling of the estate.
“This is not new to us. I’m proud to be the ambassador of Barms and City Real Estate Limited. We are happy to unveil another mini-estate, and In Sha Allah, we hope to see more projects like this in the future,” he said.
Musa also called on private sector players in the real estate industry to collaborate with state and federal governments to address housing challenges in Nigeria.
A beneficiary of the project, Mrs. Oduagbon Henry, shared her excitement. “I feel super excited. This is actually a dream come true. When I first visited this site, it seemed impossible, but in less than a year, here I am standing with my house key. I want to thank the management and staff of Barms and City for staying true to their word and to the real estate business.”
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