Author: wemabod
Agusto & Co. assigns an “A-” rating to Wemabod Limited with a stable outlook
Agusto & Co. assigns an “A-” rating to Wemabod Limited (“Wemabod” or “the Company”). The rating reflects Wemabod’s good operating cash flows supported by the relative stability in its earnings and strong average occupancy rate of nearly 90% across its portfolio of commercial, industrial, and residential properties. The rating further considers the Company’s diversified income stream that has continued to support revenue growth, and its unique project financing strategy that has helped to keep its leverage low.
Wemabod Limited is a real estate and property development company with a diversified portfolio of commercial, industrial, and residential properties across major cities in Nigeria. The Company is the real estate arm of Odu’a Investment Company Limited (“the Odu’a Group”) – a conglomerate owned and controlled by the former Western States of Nigeria (now Oyo, Ogun, Ondo, Osun, Ekiti and recently added Lagos State). Wemabod owns some of the iconic commercial properties in Lagos including Western House, Investment House, Unity House, Lapal House and Awolowo House. The Company’s primary focus has been on property development and acquisition with the view to generating rental income. However, there has been a shift in Wemabod’s strategy with increased investments in new properties as well as renovation of existing commercial buildings in a bid to improve their attractiveness and occupancy rate.
WEMABOD REAL ESTATE OUTLOOK CONFERENCE 2023
Wemabod Limited is inviting you to her upcoming Real Estate Outlook Summit Conference 2023, which is shaping up to be a premier event for professionals in the real estate industry.
Read more “WEMABOD REAL ESTATE OUTLOOK CONFERENCE 2023”
SIXTY AND STEADY – WEMABOD LIMITED CELEBRATES THE 60TH ANNIVERSARY OF ITS ESTABLISHMENT. (Press release)
Wemabod Limited announced its 60th-anniversary celebration as one of Nigeria’s oldest but very solid property development and management companies.
The company which has emerged as one of the longest-standing real estate solution providers over the last sixty years is set to raise a glass on this momentous Diamond Jubilee celebration. Read more “SIXTY AND STEADY – WEMABOD LIMITED CELEBRATES THE 60TH ANNIVERSARY OF ITS ESTABLISHMENT. (Press release)”
Buhari Awards WEMABOD Chair, Seyi Oduntan, OON
President Muhammadu Buhari has approved the conferment of different categories of National Honours on some distinguished Nigerians.
Read more “Buhari Awards WEMABOD Chair, Seyi Oduntan, OON”
WESTERN HOUSE WEARS A NEW LOOK
In August 2021, the iconic Western House building owned and managed by Wemabod Limited, once touted as the tallest skyscraper on the Marina and located on the Lagos Island Central Business District (CBD), Read more “WESTERN HOUSE WEARS A NEW LOOK”
THE GROWING HOUSING DEFICIT IN NIGERIA
Everyone wants to have a quality and a comfortable lifestyle. In as much as this is necessary, the quality of life of people should not be neglected. Read more “THE GROWING HOUSING DEFICIT IN NIGERIA”
DEVELOPMENT AGREEMENT FOR SUPER PLAZA MALL
On 15th September 2021, Wemabod Limited signed a development agreement with Median Infrastructure development company for the Development of land measuring 4426.45 Square meters, formerly known as Super Cinema and more recently as Super Plaza, along the bustling Akerele Road, Surulere, into the Proposed Super Mall. Read more “DEVELOPMENT AGREEMENT FOR SUPER PLAZA MALL”
SOD-TURNING OF 37 A AND C IKOYI CRESCENT
The Chairman Wemabod Limited, Architect Dunni Opayemi turned the first turf at the Groundbreaking event of the Iconic “The Address Homes, Wemabod Estates”, Project, located at 37A & C Ikoyi Crescent. Read more “SOD-TURNING OF 37 A AND C IKOYI CRESCENT”
Proposed JV Development of Super Plaza, Surulere
The Super Plaza is a proposed modern shopping mall at Surulere, Lagos. It is proposed to be a six-floor mall with two entrance/exit points and a delivery access. The building has been oriented to enhance visibility from great distances along the Akerele street, Surulere. Read more “Proposed JV Development of Super Plaza, Surulere”