Nigeria to construct a new modern City
Nigeria is set to construct a new modern city costing US $249m, in the North West Quadrant of the Lekki Free Zone in Lagos, one of Africa’s fastest-growing cities with a population of over 20 million. Lagos State Governor, Mr. Akinwunmi Ambode said that the project was carefully designed by Rendezvous, Africa’s largest new city developers and Lagos State Government.
“We embarked on this course of action, we sought for private sector partners to support our objective to develop every part of our State because we know that government, on its own, would be unable to achieve this. This is why this official launch of the Alaro Satellite City is a major landmark for our administration,” said Governor Ambode.
Alaro City will sit on a 2000-acre piece of land and will include a mixed-income, city-scale development with industrial and logistics locations, complemented by offices, homes, schools, healthcare facilities, hotels, entertainment and 370 acres of parks and open spaces.
Prospective residents in Alaro City will benefit from 3.2 million square metres of residential developments providing homes for 150,000 people while Corporate organisations and entrepreneurs located in Alaro City will benefit from 130,000 m2 of business district space; 225,000 m2 of technology park space; and 650,000 m2 of light industrial, logistics and business parks.
The city will be adjacent to the future international airport, the region’s largest deep-sea port and major Nigerian and international companies. Satellite cities like Alaro City have emerged as one of the best ways to accommodate population growth while maintaining urban plans and preserving green spaces. It also serves as a welcome addition to the efforts to decongest an already overcrowded Lagos.
“We are proud and delighted to be bringing our successful city model to Nigeria and Lagos State, the heart of the country’s economy. Our partnership with Lagos State will ensure that Alaro City is an economically sustainable city open to all Nigerians,” said Stephen Jennings Founder and CEO of Rendeavour.
Jennings said the new city will boost foreign direct investment in Nigeria and create tens of thousands of jobs. Rendeavour is currently building seven new cities in Africa: in Kenya, Nigeria, Ghana, Zambia and Democratic Republic of the Congo.
REndeavour invests over US $250m in each project, creating infrastructure and living and working spaces to help sustain and accelerate Africa’s economic growth, meet the aspirations of burgeoning middle classes, and serve as a catalyst for further urban development.