Group Chairman of Odu’a Investment Company Limited, Otunba Bimbo Ashiru, has announced the redevelopment of the iconic Obafemi Awolowo House in Ikeja, Lagos, into a state-of-the-art technology mall.
Ashiru made the disclosure within the wee during the groundbreaking ceremony of the project, which is situated along Obafemi Awolowo Way, in the heart of Ikeja’s commercial district.
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.
“Today’s event goes beyond the launch of a real estate project; it marks another bold step in the strategic evolution of the Odu’a Group,” Ashiru said in a statement. “This redevelopment is a clear statement of our resolve to preserve our heritage, while positioning our assets for relevance and value in the current and future marketplace.”
He explained that the redevelopment is a joint venture between Wemabod Limited and El-Salem Nigeria Limited, describing the project as a shift from passive asset management to proactive, value-driven real estate investment.
“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.
He added that the project aligns with Odu’a Group’s investment philosophy of sustainability, inclusivity, and impact orientation. Ashiru also highlighted the recent upgrade of Odu’a Investment Company Limited’s corporate credit rating to AaI- by Agusto & Co, attributing it to the group’s financial resilience and sound governance.
“We are grateful to Agusto & Co. for their professionalism and rigour in the assessment process, and we remain committed to sustaining the standards and transparency that earned us this recognition,” he said.
The Chairman of Wemabod Limited, Nureni Adisa, 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.
Managing Director and Chief Executive Officer of Odu’a Investment Company Limited, Abdulrahman Yinusa, 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.
He added that the facility will be smart and sustainable, designed to host leading technology firms, startups, and service providers, creating a future-forward ecosystem for innovation and enterprise.
Credit: punchng.com
