Bennett Oghifo
Wemabod, the real estate development arm of the Odua Investment Company Limited has performed a groundbreaking ceremony for the development of a premium residential facility known as Westlink Estate in Ikeja, Lagos.
In his welcome address at the event, MD/CEO Wemabod Ltd. Mr. Yemi Ejidiran stated that “This project represents not just bricks and mortar, but it is testament to our resilience, innovation and unwavering commitment to excellence. It is a symbol of the collective strength and ambition that define who Odua Investment Company Ltd (OICL) is. It is also in consonance with ensuring that the real estate assets of the entire group are optimized.”
Ejidiran said, “The first phase of the Aurora Westlink Estate is a premium residential development, comprising a total of 40 units, sitting on about 7400 square meters of land and broken down into 20 units of three bedroom, Terrace Apartments.
“Eight three bedroom maisonettes and a three-bedroom penthouse with attached guest chalet. The second phase will be sitting on about 3,717 square meters of land and comprising another 14 units of apartments of various typologies, and expansive recreational facilities such as swimming pool, football pitch, Basketball court, two tennis courts, and children playground.”
He said this project has been meticulously planned to showcase quantity, luxury product offering in a bid to continue the signature brand.
The GMD/CEO, OICL, Mr. Adewale Raji, acknowledged the role played by the six South-west states “who are shareholders of ODUA investment and who are represented by their respective secretaries to the state government.”
He said the groundbreaking event “marks the culmination of a strategy decision that underscores our commitment to excellence and innovation, consolidating our real estate business under Wemabod. This decision was driven by a thorough analysis of the market dynamics and a clear vision for the future. This property where we are today used to house two blocks of 12 flats. I do remember describing the sitting room as a mini Old Trafford colonial building, but what you’ve heard from the MD, this is what we are replacing with innovation and excellence, with 40 units from terraces and penthouses that are coming up at this site. “In this respect therefore, the purpose is to ensure that we take advantage of new opportunities, streamline our operations and maximize value for all stakeholders. “The potential benefits of this strategic position by Odua investment are significant. We anticipate improved efficiency and enhanced market positioning and accelerated growth in the real estate sector. “With Wemabod and subsidiaries proven track record and expertise in industry. We are confident in our ability to capitalize on the emerging trends and collaborations with strategic partners such as Earofield Homes Limited and deliver exceptional value to all customers and stakeholders.
In his remarks Odua Group Chairman, Otunba Bimbo Ashiru, said, “We started this collaboration with Wemabod, Odua owns Wemabod 100% and they’re into real estate, Odua is in real estate too so I don’t see how father and son will be doing the same business and we cited that we have to move real estate business from Odua to Wemabod and I’m happy that today they are doing very well on that.
“Another thing I want to tell you is the fact that what we’re seeing today about Earofield is a way of bringing children who have traveled out to come back to Lagos. So I want to say
The Managing Director of Earofield Homes Ltd was represented by Engineer Adetomiwa Adetilewa.
