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Wemabod Limited, the real estate arm of Odu\u2019a Investment Company Limited, has launched major redevelopment projects including the transformation of the iconic Obafemi Awolowo House into a smart tech hub and new luxury apartments in Ikoyi, signalling a strategic shift to innovation-driven and inclusive urban growth in Lagos.<\/p>\n
The real estate arm of Odu\u2019a Investment Company Limited (OICL), Wemabod Limited, has embarked on a significant transformation of its property portfolio, centred around redevelopment projects designed to unlock the value of legacy assets through innovation-driven, inclusive growth. Key among these is the redevelopment of the iconic Obafemi Awolowo House in Ikeja, Lagos, into the Awolowo Tech Mall, a modern technology and commercial hub aimed at fostering a vibrant ecosystem for startups, technology firms, and business service providers.<\/p>\n
The groundbreaking ceremony for the Awolowo Tech Mall marked a pivotal moment in OICL’s strategic shift from passive asset management to an active, impact-oriented investment approach with a focus on socio-economic development. The original 1978 structure, notable for being among Nigeria\u2019s first glass curtain-wall buildings, will be replaced with a smart, sustainable commercial space designed to meet the evolving needs of modern businesses. The redevelopment will more than double the commercial space from 4,800 square metres to approximately 9,000 square metres, aiming to stimulate economic activity and innovation in the South-West region.<\/p>\n
Speaking at the event, OICL’s Group Chairman, Bimbo Ashiru, described the project as a milestone that reflects the company\u2019s ambition to drive inclusive growth across the region. Wemabod\u2019s Managing Director, Bashir Oladunni, emphasised that the development aligns with the company\u2019s five-year strategic plan to enhance its real estate footprint and provide future-ready infrastructure that supports tech entrepreneurship in Ikeja\u2019s central business district. Partnering with El-Salem Homes, also present at the ceremony, OICL intends to create a dynamic environment where tech firms, creatives, entrepreneurs, and global brands can thrive collaboratively.<\/p>\n
In addition to the Awolowo Tech Mall, Wemabod has joined forces with El Salem Nigeria Limited and Trans Fortress Global Resources to pursue a significant residential project at 18C Lugard Avenue, Ikoyi, Lagos. This luxury residential development, known as Odu\u2019a Court, is positioned to elevate the standard of upscale living in the city, offering residents access to world-class amenities. The project complements the commercial redevelopment in Ikeja and underscores OICL’s dual approach: enhancing both commercial and luxury residential properties to realise economic value and community upliftment.<\/p>\n
This partnership model has allowed OICL to accelerate project execution while attracting considerable capital investment into its real estate portfolio. It reflects a renewed operational focus and strength as the company advances its transformation agenda, prioritising sustainable, income-generating developments. These initiatives represent a broader strategic thrust for OICL to reposition its assets and unlock value through innovation and inclusivity, establishing a fresh dynamic in Lagos’ urban infrastructure landscape.<\/p>\n
Wemabod’s efforts encapsulate a vision where heritage sites like the Obafemi Awolowo House are not only preserved but reinvigorated to serve contemporary needs, fostering a smart, sustainable, and economically vibrant future. Through these developments, OICL aims to create economic value, promote business innovation, and enhance community living standards across Lagos, signalling a new chapter in the company\u2019s growth trajectory.<\/p>\n