Commercial - Mixed Use Plots
To give some insight about Alaro City; it is an integrated mixed-use, mixed-income urban community conceived as a 2,000 hectare city scale development in the Lekki Free Zone. What makes Alaro City diverse is its infrastructure; Industrial grade roads, 24 hours electricity, water, sewage, access to ICT. Other benefits will include - rent charge in USD, capital appreciation on investment, located within a renowned master planned development, no import duties and repatriation of foreign capital investment.
We have launched a number of investments across key economic sectors at Alaro City by companies such as:
Starium (BUA Group),
as well as the largest Ready-to-Use-Therapeutic-Food production facility in Africa, owned by;
Ariel Foods FZE among others.
We currently have over 50 Industries moving to Alaro City and we see these numbers growing every month.
A key driver for companies setting up operations in the free zone, as we have seen with companies like Kellogs, Dangote, Arla, Starium (BUA Group) and others, are the free zone benefits that the companies are able to take advantage of, which include the ability to operate without paying duties on imports and without paying taxes in Nigeria. At Alaro City, there is an opportunity to operate in a manner that you would:
• not pay VAT on anything sourced locally in Nigeria
• not pay duty on anything imported into the country for your Alaro City processing or other operations
• not pay corporate income tax (even if your product ultimately ends up in the customs territory)
• not pay withholding tax on any dividends you pay out
• not have any expat quotas
• be able to denominate all your transactions in USD and make USD payments from within Nigeria to individuals and companies in Nigeria without running afoul of the de-dollarization policies
• also benefit from award-winning world-class planning and infrastructure and be surrounded by high quality corporate neighbours.
With a C of O, world-class infrastructure and reliable utilities, the city will change the face of Lagos and the Lekki axis. The city has areas for offices, logistics and warehousing, homes, schools, healthcare facilities and entertainment, together with over 150 hectares of parks and gardens.
*Commercial and industrial plots are sold between $165-$200 per sqm, price is subject to location. (Minimum purchase for commercial and industrial is 1,000m2, mixed use is 2,000m2) Prices are subject to change this quarter.