Wemabod Limited, the real estate arm of Odu’a 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.
The real estate arm of Odu’a 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.
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’s 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.
Speaking at the event, OICL’s Group Chairman, Bimbo Ashiru, described the project as a milestone that reflects the company’s ambition to drive inclusive growth across the region. Wemabod’s Managing Director, Bashir Oladunni, emphasised that the development aligns with the company’s five-year strategic plan to enhance its real estate footprint and provide future-ready infrastructure that supports tech entrepreneurship in Ikeja’s 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.
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’a 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.
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.
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’s growth trajectory.
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Source: Noah Wire Services
- https://guardian.ng/news/wemabod-repositions-legacy-for-inclusive-growth/ – Please view link – unable to able to access data
- https://guardian.ng/news/odua-group-upgrades-real-estate-arm-with-property-redevelopment/ – Odu’a Investment Company Limited (OICL), in partnership with Transfortress Global Resources Limited, has commenced the redevelopment of a luxury residential development, Odu’a Court, at 18C Lugard Avenue, Ikoyi, Lagos. This project aims to reposition OICL’s real estate portfolio and unlock the value of legacy assets through sustainable and income-generating developments. The redevelopment reflects OICL’s renewed strength and operational focus, with the joint venture model allowing for faster project execution and attracting significant capital to the property portfolio. The project aligns with OICL’s transformation journey and strategic thrusts in the real estate sector.
- https://punchng.com/wemabod-partners-firms-to-develop-lagos-projects/ – Wemabod Limited, a subsidiary of Odu’a Investment Company Limited, has partnered with El Salem Nigeria Limited and Trans Fortress Global Resources to develop two significant projects in Lagos. The first is a luxury residential development at 18C Lugard Avenue, Ikoyi, aiming to set a new standard for upscale living in the city. The second is a dynamic commercial hub in Ikeja, intended to serve as a modern business centre. These collaborations reflect Wemabod’s commitment to providing Nigerians with access to world-class amenities and signify a new chapter in the company’s journey to deliver projects that create economic value and improve communities.
- https://guardian.ng/joe-komolafe/wemabod-others-partner-to-develop-iconic-projects-in-lagos/ – Wemabod Limited, a leading real estate developer and subsidiary of Odu’a Investment Company Limited, has entered into a strategic joint venture with El Salem Nigeria Limited and Trans Fortress Global Resources to develop two iconic projects in Lagos. The first is a luxury residential development at 18C Lugard Avenue, Ikoyi, set to offer residents unparalleled luxury and access to world-class amenities. The second is a commercial development at Awolowo House, Ikeja, designed to cater to modern business needs with state-of-the-art infrastructure. These developments signify a new chapter in Wemabod’s journey to deliver projects that create economic value and enhance communities.
- https://guardian.ng/news/wemabod-repositions-legacy-for-inclusive-growth/ – Wemabod Limited, the real estate development arm of Odu’a Investment Company Limited (OICL), in partnership with El-Salem Homes, has begun redeveloping the iconic Obafemi Awolowo House into a modern technology and commercial hub, the Awolowo Tech Mall. This initiative is part of OICL’s efforts to reposition its real estate portfolio and unlock the value of legacy assets through inclusive, innovation-driven development. The redevelopment reflects OICL’s ambition to shift from passive asset management to active, impact-oriented investment that drives inclusive growth across the South-West region. The new facility is expected to serve as a hub for startups, technology firms, and business support service providers.
- https://guardian.ng/news/odua-group-upgrades-real-estate-arm-with-property-redevelopment/ – Odu’a Investment Company Limited (OICL), in partnership with Transfortress Global Resources Limited, has commenced the redevelopment of a luxury residential development, Odu’a Court, at 18C Lugard Avenue, Ikoyi, Lagos. This project aims to reposition OICL’s real estate portfolio and unlock the value of legacy assets through sustainable and income-generating developments. The redevelopment reflects OICL’s renewed strength and operational focus, with the joint venture model allowing for faster project execution and attracting significant capital to the property portfolio. The project aligns with OICL’s transformation journey and strategic thrusts in the real estate sector.
- https://guardian.ng/joe-komolafe/wemabod-others-partner-to-develop-iconic-projects-in-lagos/ – Wemabod Limited, a leading real estate developer and subsidiary of Odu’a Investment Company Limited, has entered into a strategic joint venture with El Salem Nigeria Limited and Trans Fortress Global Resources to develop two iconic projects in Lagos. The first is a luxury residential development at 18C Lugard Avenue, Ikoyi, set to offer residents unparalleled luxury and access to world-class amenities. The second is a commercial development at Awolowo House, Ikeja, designed to cater to modern business needs with state-of-the-art infrastructure. These developments signify a new chapter in Wemabod’s journey to deliver projects that create economic value and enhance communities.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is fresh, published on 17 July 2025, with no prior appearances found.
Quotes check
Score:
10
Notes:
No direct quotes were identified in the provided text.
Source reliability
Score:
8
Notes:
The narrative originates from The Guardian Nigeria, a reputable news outlet.
Plausability check
Score:
9
Notes:
The claims align with known developments by Wemabod Limited, including the redevelopment of Unity House and the partnership with El-Salem Homes.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is fresh, originating from a reputable source, and aligns with known developments by Wemabod Limited, indicating a high level of credibility.
