Ngozi Nwoke
With great enthusiasm that the Alaro City is close to the evolving Lekki business hub, patronage received from members of the public has resulted in the sell out of the Phase 1 plots of its residential plots. With the phase 1 plots sold out, the developer immediately entered into selling of the phase 2 plots.
According to Tim Beighton, Head of Communications, Rendeavour, businesses are already taking advantage of the mixed-use characteristics of the new city going by the several facilities under construction at the site. He noted that more than ten businesses, spanning across national and multinational firms, are currently investing in the city.
Speaking on the new development, Odunayo Ojo, CEO of Alaro City, Alaro, located in the North West Quadrant of the LFZ, lies in the growth path of Lagos and aims to serve as a model for what a modern mixed-use city looks like.
“It is situated in a prime location in the Lekki Free Zone, making it one of the most exciting development projects to come to Lagos State.”
According to Mr Stephen Jennings, Rendeavour’s founder and CEO, the organisation has the pedigree, seen as the biggest new city builder in Africa. It is currently building seven new cities in Nigeria, Kenya, Ghana, Zambia and Democratic Republic of the Congo.
Ojo said, Alaro is a new mixed-income city being built at the Lekki Free Zone (LFZ). “Launched in January, Alaro City is planned as a 2,000-hectare integrated mixed-use, city-scale development with industrial and logistics locations, complemented by offices, homes, schools, healthcare facilities, hotels, entertainment and 150 hectares of parks and open spaces.
“The project, more than twice the size of Victoria Island, is a joint venture between the Lagos State Government and Africa’s largest new city builder, Rendeavour. The phase one of its residential plots has already been sold out; and the phase two sales are ongoing.
“Rendeavour invests over $250 million in each project, creating the infrastructure and living and working spaces that will help sustain and accelerate Africa’s economic growth, meet the aspirations of Africa’s burgeoning middle classes, and serve as a catalyst for further urban development.”
It was learnt that one of the biggest investors in the zone is Dangote Group, which is building a petroleum refinery, a fertilizer processing plant, a gas pipeline project and a petro-chemical plant in the South East Quadrant of the zone.