Have you heard of the new mega real estate project currently happening in Lagos right now called Alaro City? That is what all the celebrities and property investors are currently talking about. They all want to own a piece of the action. It is a choice location. It is the place to be right now. It is the story of Alaro City in the Lekki Free Trade zone at Epe in Lagos
Alaro City is an integrated mixed-use urban community on 2,000 hectares in the LekkiFreeZone. With full CofO, 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.
Alaro City is situated on the Lekki-Epe expressway for ease of transportation to Lagos or towards the rest of Nigeria. The City is adjacent to the future Lagos international airport and close to the region’s largest deep-sea port and major Nigerian and international companies. A range of plots and land sizes are available to suit all people.
As you read these individuals, companies and property developers are paying for plots of land there. The types of residential plots currently on offer with flexible payment timelines include:
(1) Low-Density Plots, Single Family Units, Ground Floor +1 Floor Developable (2) Medium Density Plots, Ground Floor +2 Floor Developable (3) High-Density Plots, Apartment Blocks, 4 to 6 Floors Developable (4) Commercial/Industrial plots are also available with a minimum plot size of 1,000sqm.
Going by the plan, Alaro City is on 2,000 hectares, with 60,000 residents and 200,000 directly employed within the city. It will have $250m of bulk-infrastructure and $1.5billion of investment by sub-developers
Major catalyst for wider development and economy in surrounding area.
This mixed-income, city-scale development has areas for offices, logistics and warehousing, homes, schools, healthcare facilities, hotels, entertainment and 150 hectares of parks and open spaces.
The City holds full land title with Certificate of Occupancy.
Rendeavour and Lagos State Government, through their subsidiary, North West Quadrant Development Company (NWQDC), have conceived Alaro City as a 2,000-hectare, market-led project. The city was formally launched in January.
Alaro City is authorised by both the Federal Government of Nigeria, through the Nigeria Export Processing Zones Authority, and the Lagos State Government as an entity to develop, operate, administer and manage Alaro City. As such Alaro City and its occupants receive all Free Zone benefits in line with the laws of Nigeria. Alaro City is planned for 60,000 residents within low, medium and high-density housing in the city.
Planning has been developed in a modular format with the first 1,000 hectares master planned by world-renowned planners Skidmore Ownings Merril in partnership with local consultants. To put the size into perspective, Victoria Island in Lagos is approximately 800 hectares. So it is twice the size of V.I. Rendeavour estimates around USD250 million of bulk infrastructure will be invested within the city and at least USD1.5billion of construction by those building homes, factories and social amenities.
We expect tens of thousands of employment opportunities during our construction phases and in the last 10 months have hired over 400 workers from the surrounding communities. As with other cities Rendeavour builds, many of these jobs are sourced directly from the community via dedicated training programs as part of our responsibility to our host communities.
Asides Rendeavour’s own construction programmes, there are numerous companies that will require an indigenous workforce to build their homes, factories and social amenities such as schools and health clinics.
Peripheral employment and the knock-on effect to the local economy is expected to increase the wealth of surrounding communities within Lagos State. On completion, it is estimated that 100,000 workers will be within the city on a daily basis. The first facility, a well-established food products manufacturer from Canada, set on 54,000 square metres of land has now practically completed. Operations are expected to commence by June 2019. Employing over 100 people, the company is expected to sell approximately 6-10k MT of Ready-to-Use Therapeutic Foods (RUTF) product annually.
Further facilities are currently in the planning and under construction across industries such as food processing, steel fabrication and fast-moving consumer goods. The first phase of urban infrastructure, including the first three kilometres of road, water supply and an independent power plant, is underway and due for completion by December.
•Secure land title with Certificate of Occupancy
•Designated Mixed-Use (Industrial, residential, commercial, social; including schools, health & recreational amenities)
•Industrial plot sizes from 5,000sqm
•Residential plot sizes from 500sqm
•Industrial grade roads, street lighting, drainage, pedestrian walkways, jogging & cycling trails.
•Power, gas, water, sewerage connections and ICT
•Significant areas of green space ensuring no resident or worker is more than 5 minutes from a park or green space.
Alaro City is ideally situated on the Lekki-Epe expressway for ease of transportation to Lagos or towards the rest of Nigeria. The largest Deep Sea Port in West Africa is currently under construction and rests to the South of the city.
•Abutting the Lekki-Epe expressway.
•Directly across from the proposed Lekki-Epe international airport.
•Deep Sea and Container port
•60 mins to Victoria Island, Lagos
•60 Mins to Lagos Ibadan Expressway (connection to major expressways to Northern and Eastern Nigeria)
•Access to other Lekki Free Zone occupants including the Dangote refinery and Deep Sea Port.
Alaro City rests in the North West Quadrant of the Lekki Free Zone in Epe, Lagos. The Lekki Free Zone receives a number of benefits targeted towards its developers and occupants.
•Zero corporate income tax on Free Zone income
•Zero withholding tax on dividends
•Zero VAT on purchases made within the free zone.
•No customs duties on imports
•Exemptiopn from FX controls.
•Repatriation of foreign capital investment and gains in the Zone
•Up to 100% foreign ownership of business.
ABOUT THE DEVELOPER
Rendeavour is Africa’s largest new city developer. It is building 7 new cities across our 12,000-hectare portfolio spread across 5 countries in Sub-Saharan Africa, including Nigeria, Ghana, Kenya, Zambia and the Democratic Republic of Congo. These cities are providing homes, education, healthcare facilities and industrial parks within a well-planned urban environment, delivering new roads and utilities such as power, water and sewerage to our communities.
OTHER CITY PROJECTS
(1) APPOLONIA, GHANA (www.appolonia.com.gh)
Appolonia is a 941-hectare mixed-use and mixed-income urban development in the Greater Accra Metropolitan.
(2) TATU CITY, KENYA (www.tatucity.com)
Tetu City is a 2,000-hectare, mixed-use and mixed-income development designed to significantly decongest the city of Nairobi by offering a unique live, work and play environment.
(3) ROMA PARK, ZAMBIA (www.romapark.co.za)
Roma Park is a 120-hectare mixed-use development located in Lusaka, Zambia. The first of its kind in Zambia, Roma Park has the backing of the Zambia Development Agency.
(4) KISWISHI, DRC (www.kiswish.com)
Kiswishi comprises of over 4,400 hectares of land in close proximity to Lubumbash in the Democratic Republic of Congo. Located just 5km from Luano International Airport, Kiswishi is also just 10km from Lubumbashi’s centre.
14 BENEFITS THAT YOU WILL ENJOY
(1) Zero corporate income tax on Free Zone income (2) Zero withholding tax on dividends (3) Zero VAT on purchases made within the free zone (4) No customs duties on imports (5) Exemption from FX controls (6) Exempt from income tax on Free Zone Income, WHT on dividends, VAT on Free Zone purchases, Customs and excise duties, FX controls. (7) Revenue collection in USD allowed in the Zone (8) Repatriation of foreign capital investment and gains in the Zone (9) No inspection of imports until arrival to the Zone (10) Up to 100% foreign ownership of business (11) Expatriate Quotas not required (12) Everything you would expect within a city will be present Homes, Shops and retail units, Commercial offices, Light industrial, Warehousing and logistics, Schools, Health Centres (14) Alaro City is an inclusive mixed-use, mixed-income city. (14) Social amenities such as Parks, Playgrounds, Health and wellness centres.
•Easy connectivity to Nigeria, with major highways to Ijebu Ode, Benin City and Ikorodu; Plans also underway for the construction of the fourth mainland bridge, which will connect to the Lagos-Ibadan expressway.
•Planned Water Works development at the mouth of the Osun River.
•Proposed new International Airport, with an estimated first phase build-out in 7-10 years.
•Deployment of the Escravos-Lagos Gas Pipeline set to commence in the near term.
•Plans initiated for the expansion of the Lekki-Epe Expressway, with construction expected to commence within the next 6 months.
•E9 and Seaport link bridges to provide connectivity between all quadrants fo the Free Zone.
•Construction commenced for the new seaport, which will be deepest seaport in West Africa. Construction is expected to be completed in the next 2-3 years.
•Planned expansion of the coastal road connecting to the southern quadrants of the Free Zone and Seaport.
ALARO CITY HIGHLIGHTS
(1) Located in Lagos, Nigeria’s commercial capital with a population of about 21 million people and an estimated 2016 GDP of $131 billion.
(2)Strategically located within the Lekki Free Zone
(3) 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.
(4) Clean and fully perfected title to the land, providing security of investment.
(5) Proximity to the proposed New International Airport in Lagos as well as the Lekki Seaport (currently under construction).
(6) World-class infrastructure unrivalled by any other industrial zone in Nigeria
(7) Brand association with best-in-class industrial developer and industrial association.
(8) Cheaper construction costs within the zone as a result of tax and duty inventives
(9) Competitively priced serviced land and property relative to other industrial zones across Lagos.
(10) Reliable power and water supply
(11) Access to reliable gas supply at site boundary
(12) Enforcement of environmentally friendly and socially responsible business practices.
(13) Strong relationship and proximity to local community in order to attract trainable semi-skilled and unskilled labour.
(14) Vacant possession (no squatters)
(1) Full legal registered title (Certificate of Occupancy) received.
(2) Host community remuneration by Lagos State underway with peaceful community relations.
(3) Physical presence and initial construction activities commenced in May 2018.
Current Activities: (a) The first facility, an international processed food manufacturer, set on 54,000 square metres of land has now completed its shell and core, with a full internal fit our underway.
(b) Our second facility, an international construction and construction materials manufacturing company and corporate headquarters, set on 61,000 square metres of land is now well underway with completion and operation expected by Q12020.
(c) Site preparatory work for the construction of the first 1.5km of asphalt road is at an advanced stage. The dual-cattiageway, designed by leading global engineering consultants ARUP, is set for completion by November this year.
(d) Engineering designs for the Industrial boulevard and Greenways 1 and 2 and stormwater channels are underway. This will bring all engineered road works to 5km across the development.
(e) The tender process for the first phase of our WTP is concluded and awaiting award. This phase will cater for all developments within Phase 1a of the development.
(f) Master plan approval received from Lagos State Government.
(g) Environmental Impact Assessment issued by Federal Ministry of Environment.
(h) Infrastructure, construction and sales underway.
(i) The modular Independent Power Plant (IPP) of 2.5MVA, with the first phase scaleable to 50MVA, is expected to be completed by August this year, after finalising load requirements from our first tenants.
(j) As part of the unprecedented plans for over 150 acres of green space and parks within the city, excavation of the first of five major greenways has begun.
(k) The gas pipeline that runs parallel to our site along the western corridor is currently being installed. The gas will be used to provide a more permanent supply to the IPP and provide gas for developments as required.
(l) The electrical services tender is being concluded and commencement and award are well underway. This will be for all reticulation and installations within Phase 1 of the development.
If you are interested Contact: 100 Pier Point, Ajase Adeogun, Victoria Island, Lagos. www.alarocity.com, firstname.lastname@example.org. +234 818 844 4551