Wemabod Estates Limited is one of Nigeria’s leading Real Estate firms offering services in property development and property management. In addition to an impressive portfolio of historical Real Estate landmarks in Nigeria, the company is currently expanding its portfolio of properties managed and developed. Property Management, Property Development, Appraisal of Building Projects, Feasibility and Viability Studies, Agency – Purchase/Sale of Properties, Project Management, Preparation of Bill of Quantities.
The Company was first formed in September 1962 with a share capital of 10,000 pounds. It was then a wholly owned subsidiary of the defunct National Bank of Nigeria Limited and called Nabani Estates. In October of the same year, the Bank sold its shareholdings for 1,231,000 pounds to the Western Nigerian Marketing Board at Ibadan and the name of the Company was changed to Wemabod Estates Limited.
The Lapal Property Company Limited originated in 1959, when a scheme was devised for the development of SCOA in Nigeria, with the sale and lease-back formula which was so successfully used to finance the rebuilding of London, after World War ll. The Western Cocoa Marketing Board was seeking Investment opportunities within Nigeria, through an associate, the National Investment and Properties Company Limited (NIPC). A vital part of the strategy was that SCOA should form a company to take over all the Western Cocoa Marketing Board freehold and leasehold property interests. Lapal, the name of the new company is a mnemonic, compiled from Lagos, Paris and London, where negotiations first began, the final agreement was signed and the finance arranged.