Alaro City is a joint venture between Rendeavour, one of the largest new city and industrial park builder in Africa, and Lagos State Government.
Backed by American, Norwegian, New Zealand and British investors, Alaro City is one of the fastest growing real estate and urban development projects in Nigeria.
Alaro city is conceived on 2,000 hectares of land in the Lekki Free Zone and will have spaces for light industrial, commercial, residential and other complementary uses. Another 2000 hectares have been acquired to make it a total of 4000 hectares.
Alaro City is a massive project! Secure, predictable and proven environment for individuals and businesses, and already home to investments by notable global and local business such as BUA Group,
CAT (Mantrac), Ariel Foods, Kenol, SANA Group and international real estate developers and investors.
Alaro city is located in Ibeju Lekki - the new Lagos and is a part of the four quadrants of the free zones earmarked by the Lagos State government.
Alaro city, the major residential section of the Lekki Free trade zone contains areas of mixed and commercial use and is home to exciting industrial, residential and infrastructural developments.
This free trade zone has tons of incentives that is attracting investments from all over the world with 50+ businesses already present and more coming by the day.
These are some of the specific incentives for companies and residents in Alaro City;
Zero withholding tax on dividends.
Zero corporate income tax on free zone income.
Zero VATs on purchases made within the free zone.
Zero custom duities on imports
Exemption of Fx controls and de-dollarization policies.
These and more are reasons to invest in alarocity.
The city is also conveniently situated along the Lekki-Epe Expressway for ease of transportation through Lagos-Epe-Ogun to the rest of the country.
The largest Deep-Sea Port in West Africa is currently under has been commissioned and is located to the south of the city and a bridge links Alarocity to other Free zones namely Dangote Refinery, The Freezone by LFZDC.
Located in Lagos, Nigeria’s commercial capital
with a population of about 21 million people and
an estimated 2018 GDP of $29 billion.
Here are key highlights:
Strategically located within the Lekki Free Zone.
The Lekki axis in Lagos is the most prolific
development corridor in Nigeria, and a strategic
location near the Lagos border for interstate
commerce and distribution to the rest of Nigeria.
Clean and fully perfected title to the land,
providing security of investment.
Proximity to the proposed new international
airport in Lagos as well as the Lekki Deep
Seaport (currently under construction).
World-class infrastructure unrivalled by any
other industrial zone in Nigeria.
ICT proliferation with access and connectivity across the entire city.
Cheaper construction costs within the zone as a result of tax and duty incentives.
Competitively priced serviced land and property relative to other industrial zones across Lagos.
Reliable power and water supply.
Access to reliable gas supply at site boundary.
Enforcement of environmentally friendly and socially responsible business practices.
Strong relationship and proximity to local communities in order to attract trainable semi skilled and unskilled labor.
Design and construction of 18.7-kilometre six-lane rigid pavement carriageway Highway from Eleko Junction in Ibeju Lekki to Epe T-Junction in Epe, Lagos State The planned duration of the project is 20 months
Craneburg Construction Company
18.7 km
Not available
Flagged off 22 Nov 2020
Almost Completed
2
Design and construction of 26.7-kilometre six-lane rigid pavement carriageway Highway from Abraham Adesanya Roundabout to Eleko Junction, Lagos State. The planned duration of the project is 24 months.
Craneburg Construction Company
26.7 Km
Not available
TBD
Ongoing
3
Governor of Lagos state, Babajide Sanwo - Olu flagged off the construction of the Lekki regional road. The road is being undertaken by Messrs Hi-Tech Construction Company Limited, and should be ready for commissioning in 2022. The road is expected to usher in the construction of the proposed Fourth Mainland Bridge which is also expected to start from the Lekki - Epe axis.
Hi-Tech Construction Company Ltd
9.3 km and 45m wide
Not available
Kicked off 31 May 2020
Ongoing
4
The Coastal Road will, in the first phase, begin from Koko in Delta State passing through Okiti - Pupa in Ondo to Ijebu Waterside in Ogun State before terminating at Epe / Lekki corridor in Lagos state. Levant Construction have constructed up to Ureju town (about 15.4 km). The project is now at a point where a bridge will be constructed to cross the Ologbo river as the project moves west. The Lagos Environmental and Special Offences (Enforcement) Unit carried out a demolition exercise of over 2,500 illegal structures built in Marwa Waterside area in Lekki in preparation for the commencement of theconstruction of the coastal road.
Not available
4,560 km
Not available
12 October 2020
Ongoing
5
The Ondo State Government and the Niger Delta Development Commission, NDDC, have jointly flagged off the Araromi – Akodo / Ibeju - Lekki Road, connecting Ondo and Lagos states. The Govt has awarded contracts for the construction of the 37.5km dual coastal carriage Araromi-Seaside-Akodo-Lekki Road worth N32 billion.
Award winning master plan designed by internationally renowned design company, Skidmore Owings & Merrill in conjunction with Cityscape.
Master plan and Environmental Impact Assessment approved by Lagos State Ministry of Physical
Planning & Urban Development and Lagos State Environmental Protection Agency. EIA was approved
by Federal Ministry of Environment.
Construction of a 6km, four-lane asphalt road with 4 metre median is underway, designed by leading global engineering consultants ARUP. Beautification of the is underway with road markings, street furniture and street lighting.
Premobilisation by Craneburg for the construction of 2.5 km of Alaro City’s main boulevard commenced. This has started. The main boulevard, being the highest standard in Alaro City’s road hierarchy, is an eight-lane, 60 m
right-of-way road and will be the widest road in the Lekki Free Zone upon completion.
Forty-eight industrial and commercial off-takers at different phases of planning and development.
Engineering designs for the Industrial boulevard and Greenways 1 and 2 and storm water channels are
completed. Construction of Greenways 1 and 2 is ongoing.
Construction of additional 1km road to residential area commenced in May 2020.
Deployment of electrical and mechanical infrastructure in progress.
Construction of a helipad completed.
Clearing of land for additional road construction leading to residential enclaves in progress.
Mantrac Caterpillar
Mantrac Caterpillar recently commenced the construction of an ultra-modern facility on site.
HMD
HMD Africa is the leading multi-brand distributor of machinery, equipment and parts in West Africa with a finished facility in Alaro City.
Sana Group
Sana Group, an international construction and building materials company are building their factory and headquarters on 43,000 sqm of land at Alaro City.
There are currently 5 unicorns in Nigeria out of the 10 in Africa. Andela, Flutterwave and Opay in the last 10 years have joined Jumia and Interswitch as companies valued at $1billion dollars and above. Recently Fluterwave was valued at over a whopping $3billion+!
There is one thing similar about two of the most recent unicorns in the past 5 years - they are backed by the same Venture Capital fund and the same co-founder; Future Africa and Iyin Aboyeji respectively.
After helping build two unicorns and starting a VC fund, Iyin Aboyeji, co-founder of Andela and Flutterwave and Future Africa founding partner, wants to create charter cities in Africa.
Iyin Aboyeji
Iyin, the co-founder and brain behind two of Nigerian’s tech unicorns Andela (valued at over $1billion) and Flutterwave ( value at over $3billion) announced that his VC fund - Future Africa has just invested $13million in 72,000sqm of land in Alarocity, Freetrade zone Lagos. Could Talent city be the next Unicorn in Nigeria?
This talent city would be a one-stop residential estate for tech and IT talents in Lagos Nigeria and surrounding states.
Let me tell you how massive this is; Iyin, the brain behind this project - has driven over $4bn dollars in valuation from his previous investments in just Andela and Flutterwave alone.
He has a whole pool of Tech Venture Capitalists, founders and angel investors willing to back him and fund the realization of this project to the T.
This city in a city would attract both local and international tech talents and expats from around the world.
Since this city is in a free trade zone that has other petrochemical and chemical industries nearby; Talent city would also attract other oil and gas professionals, expats, foreigners and other high networth individuals.
Because fx controls and policies won’t apply here, these residents would be spending, transacting, and trading in dollars.
It is the goal of talent city to create an ecosystem that enables innovative startups to thrive. Infrastructure and amenities for a fully remote future would be all present at Talent city.
Because this is in a free zone , ease of remote company registration would see exisitng Startups and new ones springing up; have their residents located and living here because of freindly business policies.
Designed to power the future of remote work, it would be a technology hub equipped with fast internet and reliable infrastructure including convenient transit, ample coworking space, parks, outdoor phone booths, complete with private smart homes and 24/7 uninterrupted power.
This place would sincerely exceed expectations, in the words of comedian Sabinus, it will be ”something hooge!”
This $13million dollar investment is another masive investment in the Free Trade zone Lekki-Epe axis that makes Ibeju Lekki all the more a valuable investment destination.
Future Africa and Iyin Aboyeji, certainly do have the glowing track record to turn Talent City charter cities to the next Nigerian unicorn dont you think?
While The Talent city is a fully funded private project, just opposite Talent city is Universal One homes - a residential complex you can purchase apartment units in Alaro City.
Universal one is the first family-friendly, master-planned community in the heart of Alaro City just opposite Talent City. It consists of 576 two bedroom (expandable to 3 and 4 bedrooms) contemporary apartments offering a tranquil, yet modern living experience powered by world class amenities and Alaro City’s commitment to greenery and nature.
Universal One City in Alarocity
Below is a list of all the features that each unit will come with and a list of the amenities that will be within the estate.
Home features
● Open plan living room extended with balconies
● Modern imported kitchen with mosaic backsplash and breakfast bar
● Polished Italian style granite worktops
● European 85kg security door
● Wooden teak textured ceramic tiles
● Utility area with a provision for a washing machine
● 100L Solar water heating with booster
● Smoke detectors
● AC in all bedrooms and living space
● White UV high quality wardrobes as standard in all bedrooms
● Italian style stainless kitchen and bathroom fittings
● Frameless glass shower screens & rain shower in the bathroom
● 24-hour security through CCTV and key card access into the estate.
● Lush landscaping along the boulevard and avenues.
● Well-lit common areas though solar powered streetlights.
● Secured parking for residents and visitors
● 24-7 Electricity
The first phase of Universal homes is almost sold out with only 16 units left out of 576units and the next phase would be rolling out shortly as this phase is set to sell out soon!
The price of homes in Universal one ranges between NGN32million to NGN37million with an up to 12 month payment plan available and staged homes are already available for viewing. Construction for this units are going at a very fast pace.
Alarocity is another free zone just like Eko Atlantic in Victoria island. Located in the North-west quadrant of the Lekki Free Trade zone and managed by Rendeavour, one of Africa’s largest developers.
Rendeavour and Lagos State Government, through their subsidiary, North West Quadrant Development Company (NWQDC), conceived Alaro City as a 2,000-hectare, market-led project.
All the free zones are managed by various operators and what sets Alaro city apart from the other free zone managed by Lekki Free Zone Development Company (LFZDC) is that it is the only freezone along the Lekki-Epe corridor.
Also, per the master plan Alarocity seems more organized and the investors and partners involved are are not majorly Chinese but from a diverse background of Norwegian, American, British investors and partners.
An international airport over 2000 hectares is at planning stage and will be located adjacent to the Alaro city along the Lekki Epe expressway.
150 hectares of the city would be dedicated to parks, greenery and open spaces.
Iyin Aboyeji
Universal One City in Alarocity
Universal One city in Alaro City
