The Nigerian Institution of Estate Surveyors and Valuers has recognised an inclusive new city in the Lekki Free Zone, Alaro City, as a notable development.
NIESV, at its ‘honours night dinner’, on Friday, awarded the 2,000-hectare city ‘The Most Notable Development Project.’
The Chief Executive Officer of Alaro City, Odunayo Ojo, said the award was a testament to the hard work and dedication by the team behind the city.
“Alaro City’s success is not possible without the co-operation of our partners, the Lagos State Government,” Ojo added.
Rendeavour, the new city developer behind Alaro City, inaugurated the project in January as an inclusive mixed-use, city-scale development with master-planned areas for offices, logistics and warehousing, homes, schools, healthcare facilities, hotels, entertainment and 150 hectares of parks and open spaces.
Ojo said the city had received fast-track investment from Rendeavour due to high demand from the Nigerian market, adding that the first manufacturing facility, constructed on 5.4 hectares, would become operational by August.
“Additional facilities for steel fabrication and fast-moving consumer goods are under development. 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,” he said.