Alaro City, a mixed city development project by African real estate giant Rendaevour is said to contributing up to $250 million dollars in infrastructural development to the Lekki Free zone area of Lagos state.
This was shared at a media parley organized by project owners Rendeavour exploring the expectations for the Alaro City project.
Alaro city a 2000 hectare development located in the North West quadrant at the Lekki free trade zone is currently ongoing city development selling out its first phase of residential plots and will stand as a mixed use inclusive city with provision for residential, commercial and industrial purposes and ultramodern utilities including an independent power plant, industrial grade environment and more.
Speaking at the media parley, Tim Beighton Head of Marketing Communications provided a detailed overview of the Alaro city project highlighting the expected opportunities the city will contribute to Lagos real estate.
According to him, Alaro city will target residents and commercial investments from varying social economic classes matching affordability with high quality standards in a thoroughly regulated environment. .
The city is expected to create employment opportunities and contribute to industrial growth in the area, with businesses operating in the city expected to benefit from commercial incentives including federal and state tax exempts and import duty waivers available within the free trade zone.
Rendeavour also has city development projects in sub-Saharan Africa with developments in Ghana, Kenya, Zambia and the Democratic Republic of Congo – DRC.