Alaro City, perhaps is Nigeria's largest mixed-use development Alaro City is a 2,000-hectare mixed-use development situated in the Lekki Free Zone in Nigeria. This venture is a collaboration between Rendeavour, a key player in developing new cities and industrial parks in Africa, and the Lagos State Government. The project encompasses spaces for light industrial, commercial, residential, and other associated uses.
The location of Alaro City is within the North West Quadrant of the Lekki Free Zone, neighboring the future Lagos International Airport and in proximity to the area's major deep-sea port and various Nigerian and international companies. Positioned along the Lekki-Epe Expressway, the site provides convenient transportation access through Lagos-Epe-Ogun to other parts of the country.
Alaro City offers diverse plot types zoned for various purposes, including low, medium, and high-density residential uses, as well as industrial and commercial uses. Land for sale within Alaro City ranges from NGN9 million to NGN20 million ($21,951 to $48,780), depending on the plot's location and size.
The development includes a range of residential properties, such as apartments and single-family units. The first residential phase, undertaken by Universal Homes, comprises 500 apartments. Prices for homes in Universal One, Alaro City's initial residential phase, vary from NGN32 million to NGN37 million ($78,049 to $90,243) with a flexible up to 12-month payment plan available.
Alaro City also provides plots designated for industrial, commercial, and warehousing purposes. The price of these plots starts from 1,000 square meters.
The cost of property within Alaro City varies based on the property type and location within the development. Presently, land value in Alaro City is $168 per square meter, and prices for homes and land for sale are subject to change.
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