Odu’a Investment Company Limited (OICL), through its real estate subsidiary, Wemabod Limited, in partnership with Transfortress Global Resources Limited, has officially commenced the redevelopment of Odu’a Court at 18C Lugard Avenue, Ikoyi, Lagos. The groundbreaking ceremony, held on July 4, marks a significant milestone in the group’s strategic transformation of its real estate portfolio.
The Group Chairman of OICL, Otunba Bimbola Ashiru, described the project as a strategic move in the company’s ongoing repositioning efforts, aimed at creating sustainable and income-generating assets that align with modern market demands. “This redevelopment signifies our commitment to maximizing the value of our legacy assets and building a future anchored on excellence and innovation,” he stated.
The redevelopment project will transform the existing six residential units into 18 premium housing units, in line with Wemabod’s Five-Year Strategic Plan (2021–2026), which targets the addition of 500 new housing units to Nigeria’s urban landscape. This move also supports the broader national objective of narrowing the housing deficit in major cities.
Speaking at the event, Group Managing Director of OICL, Mr. Bashir Oladunni, praised the joint venture between Wemabod and Transfortress, noting that it reflects the group’s forward-thinking approach to asset regeneration and smart densification.
“This partnership has brought together transparency, professionalism, and long-term value creation. It is not just a building project; it is a reaffirmation of our strategic vision,” he remarked.
Also addressing the gathering, the Chairman of Wemabod Limited, Engineer Nureni Adisa emphasized the importance of the project in repositioning underutilized assets into market-relevant developments. “We are not just building homes; we are building value and contributing meaningfully to urban development. This project is a testament to what strategic collaboration can achieve,” he said.
The project is expected to boost Wemabod’s presence in the high-end real estate segment, while reinforcing Odu’a Group’s legacy of trust, performance, and excellence. It further demonstrates the company’s commitment to leaving a lasting impact through innovative and impactful developments.
The ceremony was attended by key stakeholders, board members, partners, and dignitaries who commended the initiative and expressed optimism about its contribution to Nigeria’s real estate growth and economic development.
