Wemabod begins redevelopment of Awolowo House into Tech Mall in Ikeja
L-R; Mrs Folusho Olaniyan, OON, Group Independent Director, Odu’a Investment Company Limited, Chief Segun Ojo, Group Director OICL, Mr Gbade Ojo, MD, El-Salem Nigeria Limited, Mr Segun Olujobi, Group Director OICL, Otunba Bimbo Ashiru, Group Chairman, OICL, Engr Nureni Adisa, Chairman, Wemabod Limited, Mr Yemi Ajao, Executive Director, OICL, Mr Barshi Oladunni, MD, Wemabod Limited, Oba Adesegun Alowonle, Elemuren of Emuren and Otunba Seyi Oduntan, OON, former Chairman, Wemabod Limited.
Nike Popoola
Wemabod Limited, a leading player in Nigeria’s real estate and property development sector, has officially commenced the redevelopment of its iconic Awolowo House into a state-of-the-art commercial and technology hub, the Awolowo Tech Mall.
Odu’a Investment Company Limited (OICL), in collaboration with its real estate subsidiary Wemabod Limited and joint venture partner El-Salem Nigeria Limited, on Wednesday, held the groundbreaking ceremony for the transformation of the iconic Obafemi Awolowo House on Obafemi Awolowo Way, Ikeja, into a state-of-the-art Technology Mall.
Speaking at the ceremony, the Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, described the project as a bold milestone in the company’s ongoing transformation agenda.
“This is more than a redevelopment. It is a strategic effort to align our heritage with a vision for the future,” Ashiru stated. “We are unlocking value from legacy assets and repositioning them to serve the demands of a rapidly evolving digital economy.”
The Awolowo House Tech Mall, once a symbol of architectural excellence in the 1980s, is being reimagined to serve as a modern hub for technology-driven enterprise, youth innovation, and business incubation. Located in the heart of Ikeja’s Central Business District, the Mall is set to become a catalyst for economic activity and urban revitalization in Lagos State.
The initiative is also a testament to OICL’s shift from passive asset management to a proactive, impact-oriented investment strategy. “This project represents strategic asset optimization in action. It reflects the strength of our partnerships, the clarity of our vision, and our commitment to inclusive, sustainable development,” said the Chairman.
Also speaking at the groundbreaking ceremony, Engr. Nureni Oladipo Adisa, Chairman of the Board of Directors, Wemabod Limited, described the project as a bold step toward redefining commercial real estate in Lagos and supporting Nigeria’s growing digital economy.
“The Awolowo Tech Mall will be a five-storey, ultra-modern commercial complex strategically positioned along Obafemi Awolowo Way, adjacent to the dynamic Computer Village. It is designed to become a thriving magnet for technology firms, service providers, innovators, and entrepreneurs,” Adisa stated.
The redevelopment, a joint venture with El-Salem Nigeria Limited, is set to transform one of Wemabod’s most storied properties into a modern, future-facing asset.
“This is more than just a construction project. It is a symbol of Wemabod’s renewed commitment to innovation, sustainability, and socioeconomic impact,” he added.
The Managing Director/CEO of Wemabod Limited, Mr. Bashir Oladunni, described the project as a pivotal moment in the economic transformation of Ikeja and the strategic evolution of Wemabod’s property portfolio.
“The site we are transforming today was once a beacon of innovation, designed in 1978 by Towry Coker Associates and renowned for its pioneering glass curtain wall design. It became a hub for top-tier institutions, achieving 100 per cent occupancy,” Oladunni noted.
