Wemabod Limited, a leading real estate company led by Nigerian executive Yemi Ejidiran, has finalized the signing of its “Wemabod Financing SPV Limited N50-billion ($32 million) Bond Issuance Program.” This initiative aims to drive the construction of commercial and residential developments in Lagos, Nigeria’s bustling economic hub.
This financial move is poised to significantly impact the landscape of commercial and residential projects within Lagos, Nigeria. The $32-million bond issuance program will be raised in series, with the initial focus on a N4-billion ($2.57 million) bond issuance.
These funds are earmarked to finance the construction of Unity House, a mixed-use development situated at 37 Marina in Lagos. This redevelopment project, led by Wemabod, aims to transform the historic landmark into a modern hub featuring office spaces and residential apartments, revitalizing the central business district of Lagos.
Yemi Ejidiran unveils ambitious bond issuance program to transform Unity House and ignite investment surge
At the signing ceremony held in Lagos, Ejidiran, the managing director and CEO of Wemabod, underscored the importance of the bond issuance program in rejuvenating Unity House and fostering residential development in Lagos’ central business district.
He emphasized that the infusion of capital from the bond issuance program would not only support the renovation of Unity House but also serve as a catalyst for the overall regeneration of the area, offering lucrative opportunities for investors and residents.
“This signing ceremony marks a pivotal moment as Wemabod endeavors to raise funds from the capital market to propel the development of Unity House,” Ejidiran said. “Our objective extends beyond the renovation of this iconic property; it represents a catalyst for the regeneration of the central business district, offering unparalleled opportunities for investors and residents alike.”
Wemabod’s legacy of success in Nigeria’s real estate sector
Established in September 1962 as Nabani Estate and later rebranded as Wemabod, the real estate solutions provider has amassed more than 60 years of expertise under Ejidiran’s leadership.
With a portfolio boasting over a thousand successfully executed projects, Wemabod has solidified its position as a key player in Nigeria’s real estate sector, consistently delivering excellence in property development and management.
Unity House, a historic property with a prime location at 37 Marina, is poised to undergo a transformative journey under Wemabod. This redevelopment initiative aligns with Wemabod’s commitment to delivering innovative real estate solutions and contributing to the growth and modernization of Lagos’ urban landscape.
