Lagos State Governor, Mr. Akinwunmi Ambode unveiled the reports and said that the project was carefully designed by Rendezvous, Africa’s largest new city developers and Lagos State Government to redefine state.
“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, which cover a mixed-income group, 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 sqm of business district space; 225,000 sqm of technology park space; and 650,000 sqm 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 rather welcome addition to the efforts to decongest an already overcrowded Lagos.
“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,” said Jennings Founder and CEO of Rendeavour.
Mr. Stephen Jennings added that the new city is expected to 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.
The company invests over US $250m 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.