Mshel Homes unveils Amenities at Mshel Hutu Exclusive, showcases vision for Live-Play-Relax community

…as MoFI backs affordable home ownership, highlights N250bn mortgage fund

Mshel Homes has commissioned a range of recreational and lifestyle facilities at its Mshel Hutu Exclusive Estate in Abuja, marking a significant step in the company’s ambition to redefine luxury community living through an integrated “live, play and relax” concept.

The amenities unveiled on Saturday include a nine-hole golf course, a full sports complex featuring 10 sporting facilities, an Olympic-sized swimming pool, and a 2.7-kilometre internal road network.

Speaking during the commissioning ceremony, Barka Umaru Mshelia, Group Managing Director and Chief Executive Officer of Mshel Group, said the project was born out of a vision to create communities that combine quality housing with world-class recreational infrastructure.

According to him, Mshel Hutu Exclusive represents a landmark development for the company and demonstrates its commitment to raising the standard of real estate development in Nigeria.

Mshelia recalled that acquiring the vast expanse of land for the project initially appeared impossible because of the financial commitment involved, but said the company remained convinced that it could build a destination capable of attracting global attention.

He explained that the idea behind the Hutu brand was inspired by the Hausa word “Hutu,” meaning rest, with the objective of creating an environment where residents can comfortably live, recreate and unwind.

“And one of the things we have done deliberately is the facilities are going to complement and enhance the way people live, play, and relax. Our idea for Mshel Hutu exclusive is not just to create an environment where people will own houses and be able to have a place where they can have their investment. But we thought that we want to create a community and environment where people live happily and they live their best life in Mshel Hutu Exclusive,” he said.

The CEO said extensive planning led to the development of a Golf Resort Estate concept, featuring facilities including football, basketball, volleyball, lawn tennis and badminton courts, among others.

He disclosed that despite financial and construction challenges, the company completed the first phase of the amenities within six months through determination and teamwork.

Mshelia commended members of the company’s workforce, construction partners and investors for their commitment, describing the project as the product of resilience and unwavering belief in a shared vision.

According to him, more than 10 apartment blocks are already standing within the estate while additional phases of development are underway.

He noted that positive feedback from subscribers and Nigerians in the diaspora has reinforced the company’s confidence in the project, adding that one prospective resident based in the United Kingdom decided to relocate after seeing the quality of development at the estate.

Mshelia assured clients that the company would continue expanding the estate with additional facilities as subsequent phases are delivered.

“And for those who are clients who are subscribed to the apartment building, we have more than 10 blocks already standing and are still under construction. I’m truly happy because this project did not come without challenges. It came with enormous challenges that nearly kept us out of the market.

“But we kept being resilient, we kept being committed. If there is anything I have learned from this project, it’s the fact that if you dare to do something different, it will come with every challenge you can ever think or imagine. But when you remain focused, committed, and putting everything in the hands of God, there is no higher you cannot attain.

“And we are not just stopping there. We said that we are going to do this project in phases and this is the first phase. And we are coming up to do something more than what we have done before,” he added

Also speaking at the event, Sani Yakubu, National Coordinator of the Ministry of Finance Real Estate Investment Fund (MREIF), said the Federal Government remains committed to expanding access to affordable housing through innovative mortgage financing.

Yakubu, who also serves as Executive Director at the Ministry of Finance Incorporated (MoFI), disclosed that the ministry registered a N1 trillion mortgage and housing support programme with the Securities and Exchange Commission in March last year.

He said the fund has so far raised N250 billion and financed about 2,000 mortgages across Nigeria.

According to him, N100 billion of the fund is listed on the Nigerian Exchange, while the fund has earned a AAA rating from Agusto & Co. and a AA rating from GCR, reflecting strong governance and investor confidence.

Yakubu said the first N250 billion tranche comprised N150 billion contributed by the Federal Government and N100 billion invested by banks and other financial institutions.

He revealed that 22 financial institutions, including 11 commercial banks and 10 mortgage banks, currently participate in the programme.

“In March of last year, as an intervention, the Ministry of Finance Incorporated registered a 1 trillion Naira mortgage and housing support program with the Securities Exchange Commission.

“Fast forward to today, we have raised 250 billion and done 2,000 mortgages across Nigeria. This is operated as a fund such that it has clarity, it has accountability, and a hundred of that 250 billion is quoted on the Nigerian Stock Exchange,” he said

He encouraged prospective homeowners to take advantage of the scheme, noting that eligible applicants can access mortgages at an interest rate of 9.75 per cent, make a minimum equity contribution of 10 per cent and repay over a period of up to 20 years.

Describing the programme as a major intervention in Nigeria’s housing sector, Yakubu said mortgage disbursements are averaging about N10 billion every month.

He commended Mshel Homes for delivering a development capable of generating employment while contributing to the country’s housing stock, urging prospective buyers to leverage the MREIF platform to finance home purchases.

Emmanuel, an investor in the project, described the transformation of the estate as remarkable.

He recalled that access to the location was difficult during the early stages of development but said the company’s leadership remained committed to executing its vision.

“I think it was something last year. We had to come from the exit at the back. There was no access road.

“You know, he has moved this place from nothing to where we are today. And I’ll advise anybody that has not committed to this project to key in right now, you know, before the project achieves its full potential,” he said

According to him, the progress achieved at Mshel Hutu Exclusive has validated the confidence reposed in the project by early subscribers.

He urged prospective investors to take advantage of the development before it reaches full maturity, expressing confidence that the estate will continue appreciating in value.