The real estate development arm of Odu’a Investment Company Limited (OICL), Wemabod, in partnership with EL-Salem Homes, has begun the redevelopment of the iconic Obafemi Awolowo House into a modern technology and commercial hub, the Awolowo Tech Mall, as part of efforts to reposition its real estate portfolio and unlock the value of legacy assets through inclusive, innovation-driven development.
Group Chairman of OICL, Bimbo Ashiru, while speaking during the groundbreaking ceremony, yesterday, in Ikeja, Lagos, described the project as a significant milestone in the group’s ongoing transformation agenda.
He noted that the redevelopment reflects OICL’s ambition to shift from passive asset management to active and impact-oriented investment that drives inclusive growth across the South-West region.
Ashiru added that the new facility, which would replace the original 1978 structure renowned for being among Nigeria’s first glass curtain-wall buildings, is expected to serve as a hub for startups, technology firms, and business support service providers.
Also speaking, Managing Director and Chief Executive Officer of Wemabod Limited, Bashir Oladunni, said that the initiative was in line with Wemabod’s five-year strategic plan, focused on expanding its real estate footprint and enhancing socio-economic development through future-ready infrastructure.
He explained that the Awolowo Tech Mall is conceived as a smart, as well as a sustainable commercial space, designed to meet the needs of modern businesses and create a launchpad for tech-driven entrepreneurship in the heart of Ikeja’s Central Business District.
Oladunni added that the redevelopment, which would more than double the current commercial space from 4,800 square metres to about 9,000 square metres, is also expected to catalyse economic activity and innovation within the region.
Managing Director of EL-Salem Homes, Gbade Ojo, described the project as a timely response to the evolving demands of Nigeria’s urban infrastructure landscape.
He said the mall is envisioned as a dynamic ecosystem where tech firms, creatives, entrepreneurs, and global brands could thrive through collaboration, productivity, and innovation.
