Wemabod Estate Limited, a subsidiary of Odua Investment Company Limited is targeting to contribute 500 new housing units to Nigeria’s urban landscape.
This is part of the subsidiary company’s move to bridge Nigeria’s housing deficit estimated at 28 million units and strategic plan to support national efforts to close the housing gap in the cities.
To this end, Odu’a Investment Company Limited (OICL),through its subsidiary,Wemabod Limited has commenced the transformation of the historic Obafemi Awolowo House into the state-of-the-art Awolowo Tech Mall in Ikeja, Lagos.
Originally designed by Towry Coker Associates in 1978, the Awolowo house is now set to be redeveloped to a five-storey, 9,000-square-metre ultra-modern technology hub, catering to tech firms, startups, creatives, and service providers.
The project is a partnership between Wemabod Limited, and El-Salem Nigeria Limited.
Bimbo Ashiru, group chairman, Odua Investment Company Limited described the project as a shift from passive asset management to proactive, value-driven real estate investment.
“Our focus remains on developing projects that not only deliver financial returns, but also foster inclusive growth, urban resilience, and regional competitiveness.
“The redevelopment event goes beyond the launch of a real estate project; it marks another bold step in the strategic evolution of the Odu’a Group. It is part of our deliberate expression of our transformation agenda and our commitment to unlocking value from legacy assets through innovation, partnerships, and visionary thinking.
“The conglomerate will not only preserve its legacies but reposition them with intelligence, foresight, and purpose.
Ashiru said “we resolve to preserve our heritage, while positioning our assets for relevance and value in the current and future marketplace.”
“As Lagos State continues to pursue an ambitious and commendable urban regeneration programme, particularly within the Ikeja axis, we at OICL reaffirm our commitment to being a constructive partner in this journey.
According to him, the new project, known as the Awolowo Tech Mall, is not just a real estate redevelopment but a strategic move to reposition Odu’a Group’s legacy assets for relevance in today’s digital economy.
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“When completed, the Awolowo Tech Mall will serve as a catalyst for commercial activity in the Ikeja Central Business District and a launchpad for youth innovation, business incubation, and technology-driven enterprise,” Ashiru said.
Nureni Adisa, the chairman of Wemabod Limited described the redevelopment as a bold step in transforming a historical landmark into a future-oriented technology hub.
“This redevelopment will see the existing structure evolve into a five-storey, ultra-modern commercial complex to be known as the Awolowo Tech Mall,” Adisa said. He noted that the location’s proximity to Computer Village makes it ideal for hosting technology firms, service providers, innovators, and entrepreneurs.
“By positioning this development at the intersection of commerce and technology, Wemabod is laying the groundwork for a space that nurtures ideas, fuels business, and contributes meaningfully to the digital economy of Lagos and Nigeria as a whole,” Adisa said.
Abdulrahman Yinusa, managing director and chief executive officer of Odu’a Investment Company Limited, said the redevelopment would transform the historic site into a 21st-century digital and commercial powerhouse.
He explained that the project will expand the commercial space from 4,800 square metres to approximately 9,000 square metres, more than doubling its capacity.
“This expansion aligns with Wemabod’s strategic direction to increase market share and contribute meaningfully to Lagos State’s economic development,” Yinusa said.
Bashir Oladunni, managing director of Wemabod explained that the project aligns with Lagos State’s urban regeneration agenda and its role in reshaping Ikeja’s commercial ecosystem.
“As we turn the first sod today, we are laying the foundation for innovation, opportunity, and a new era of commercial excellence,” he stated.
Ben Gbade-Ojo, managing director of El-Salem Nigeria Limited, the partnering company with Wemabod described the A.T. Mall as a visionary project that honors the legacy of Obafemi Awolowo while positioning Lagos as a leading hub for digital innovation in West Africa.
“The A.T. Mall will be more than a marketplace — it will be a dynamic ecosystem for tech firms, creatives, entrepreneurs, and global brands. With world-class infrastructure and integrated lifestyle facilities, this mall is designed to foster innovation, growth, and sustainability,” he said.
