Bashir Jimoh is a real estate player, he is the Managing Director of Bashmoh Homes, the company he floated 7 years ago to bridge the deficit in the Nigerian Housing sector. Has he been able to do that? Two weeks back, City People’s Senior Property Reporter, Isaac Abimbade, was in Lagos Island, precisely inside Tafawa Balewa Square where the Lagos International Trade Fair took place. At the fair, many real estate companies came for exhibition, but only a few got attention and one of them was Bashmoh Homes. Bashmoh Homes is arguably one of the best property firms in Lagos today. This assertion has nothing to do with its inception 7 years ago, but because it has carved a niche in documentation of properties and affordability of its products.
The company is also into estate development, mortgage advisory, building engineering and consultation, property leasing and letting, and general land consultation. City People approached the MD, Bashir Jimoh and he talked about what the company was doing to bridge the deficit in the housing sector and why he prefers selling at affordable prices. His revelations are quite interesting. Excerpt.
Can we know more about you sir?
I’m Bashir Jimoh, the Managing Director of Bashmoh Homes. We commenced business in 2010. Now, we have about 6 estates in Lagos. We have at Ibeju Lekki, we have at Shimawa (Phase I and Phase 2). We have in Atan. We have at Orimerunmu and we have in Epe too. We have been delivering houses to both medium and top level ushers. Not only that, we have avenues where people can acquire land in much easier way(s) when compared to what other real estate companies do. As we speak, most of our clients are happy with the kind of services we are providing them. We do not only sell land, we also build for people who would want us to build for them.
We also do documentation. Even for land that you have purchased (acquired) somewhere else, we can assist you in the process of obtaining your C of O or governor’s consent as the case may be.
When you set up Bashmoh Homes, what were those things you had in mind to tackle in the sector?
The reasons behind setting up Bashmoh Homes is that, when we looked at many Nigerians, we discovered that many of them wanted to own their homes. However, the issue of Omo Onile, (land grabbers) has been the problem facing most Nigerians and they do not trust who to give their money to and that is the angle we are trying to bridge as a company.
We want to provide land in an estate environment that gives people comfort, that gives people assurance that their investment is secured. Because land investment is not just a thing you can venture into; it’s one of the most important endeavours of man.
You have been working and having gathered money, you want to be so sure who you will give it (money) to; so that it would not end up as a rip off by the Omo Onile or land grabbers and that’s why we created the platform (Bashmoh Homes) to assist people who want to invest in land and eventually build their homes and Bashmoh Homes is the answer.
Talking of affordability: many of your colleagues have: different definitions to the word afford ability. What is affordable homes to your sir?
I used to tell most of our clients that affordable homes is achievable in Nigeria and what is affordability? There are people in an establishment: a manager who doesn’t have a two-bedroom bungalow and you a driver in the same organization having a 2-bedroom bunglow at different locations because these persons have defined the kind of home they want. With 100,000, you can start your housing development, how many blocks do you need to start a bungalow. Roughly 3 thousand blocks will build you a bungalow.
What we are saying to everybody is that, you can have a house built with just over N1 millionnaira. In other words, you should have a model house an average Nigerian can afford, not the one that’s premiumly built. If you buy houses that have been completed, Houses you did not participate in it development, I can assure you, you are paying huge premium on it.
What do you take as a priority between documentation and affordability?
Ours is affordability, we want to ensure that an average Nigerian has a home and we always tell them that you can buy our land and pay the balance by instalment. We do not have a specific amount that you pay every month, but you can decide to pay within two years. You can pay as it convenient for you, that is what we do.
Where do you have the properties?
We have them in Atan, Shimawa, Ibeju Lekki, Orimerunmu and they are very affordable when compared with other real estate companies’ products.