Rendeavour, Lagos State Government launch new city in Nigeria
Africa's largest urban developer, Rendeavour, in partnership with the Lagos State Government, has broken ground on a new satellite city development in the Lekki Free Zone as part of a joint venture that boosts foreign direct investment in Nigeria and will create tens of thousands of jobs.
The project, Alaro City, is a mixed-income, city-scale development with industrial and logistics locations, complemented by offices, homes, schools, healthcare facilities, hotels, entertainment and 150 hectares (370 acres) of parks and open spaces.
Located in the North West Quadrant of the Lekki Free Zone, Alaro City lies in the growth path of Lagos, one of Africa's fastest-growing cities with a population of over 20 million. Alaro City is adjacent to the future international airport, the region's largest deep-sea port and major Nigerian and international companies.
At a ceremony marking the start of the project, which already has multi-national companies building facilities on site, Alaro City's partners outlined their vision of the satellite city.
"We welcome the substantial foreign direct investment Rendeavour is making in Alaro City, which will further enhance the Lekki Free Zone as the gateway of choice to Nigeria and West Africa," said Lagos State Governor Akinwunmi Ambode. "Alaro City symbolises the government's continuous support for private investors and fast tracking development."
Stephen Jennings, founder and CEO of Rendeavour, said: "We are proud and delighted to be bringing our successful inclusive city model to Nigeria and Lagos State, the heart of the country's vibrant economy. Our partnership with Lagos State will ensure that Alaro City is an economically sustainable city open to all Nigerians."
Rendeavour is building seven new cities in Africa: in Nigeria, Kenya, Ghana, Zambia and Democratic Republic of the Congo. As a master developer, 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.