The big question the majority is asking is, “What is Alaro City?” You’ll most likely have heard it before if you’re up to date with the real estate trend in Lagos, Nigeria. No realtor can create content concerning Epe and won’t mention Dangote refinery or Alaro City as being the two mega projects ongoing in Epe.
Dangote refinery, just as the name implies, is self explanatory and anyone can comprehend what it is without any explanation, unlike Alaro City, which of course is a city, but people are still confused as to why it is the talk of the town in the Lagos real estate market.
In this article, I’ll explain what Alaro City is, what made it popular, why it is needed, and the benefits it serves to the public and Lagos State at large.
What is Alaro City?
Alaro City is a luxury mixed estate in Epe, Lagos State, Nigeria, that has all the necessities for human survival, which include space for schools, hospitals, businesses, hotels, health care facilities, recreational and entertainment centers, homes, warehousing, logistics, and offices.
Alaro City is located in the Lekki Free Trade Zone, which the Lagos State Government of Nigeria plans on making a commerce center for businesses and investors who want to expand their market to Africa and Europe at large.
Founder and Establishment of Alaro City
Alaro City is one of the fastest-growing developments in Nigeria. It is backed by investors from New Zealand, America, Norway, and Britain. The project is co-owned by the Lagos State Government and Rendeavour, which is one of the largest modern city park builders in Africa.
Alaro City has six primary investors across five countries, including Yomi Ademola from Nigeria. Alaro City is seated on 4000 hectares of land in the Lekki Free Trade Zone.
A seven-man board of directors manages the project, of which five are Nigerians, one is from America, and the last is from Britain.
About Rendeavour: Alaro City Developer
Alaro City is being developed by Rendeavour, which is one of the most popular developers in Africa, specializing in the development of luxurious estate parks across Africa.
The portfolio of Reandeavour includes Roma Park in Lusaka, Zambia; Tatu City in Nairobi, Kenya; and Appolonia City in Accra, Ghana. Reandeavour boasts a portfolio of over twelve thousand hectares of land, which makes them a good fit to be the developer of Alaro City.
Significance of Alaro City
The name Alaro can be traced back to earlier times before the formation of Epe, where the Lekki Free Trade Zone is located. Alaro was one of the four fishermen who came into contact with Uraka and his wife, the founding godparents of Oko Epe, which means forest of black ants.
Alaro met with Uraka when he was on a hunting quest from the land of Ile Ife. The remaining three fishermen were Opute, Lugbasa, and Ogunmodede.
So Alaro City isn’t just a city like every other estate part that is being developed by Reandeavour; it is a preservation of the Epe people’s heritage and a show of Epe being a significant integral of Lagos State.
Prices of land in Alaro City
You can get a plot of land in Alaro City for 60 thousand dollars for a 500-square-meter plot of land, which you can spread over 12 months. Below is a table showing the prices of land in Alaro City.
| Plot Type | Size(SQM) | Price($) | Payment Plan |
|---|---|---|---|
| Low Density | 500 | 60,500 | 12 months |
| Low Density | 750 | 90,750 | 12 months |
| Low Density | 1000 | 121,000 | 12 months |
| Medium Density | 500 | 67,500 | 12 months |
| High Density | 1000+ | 150,000 | 12 months |
👉🏽👉🏽👉🏽 Buy affordable land in Epe – Pay in 6–12 months
What does Alaro City do?
Alaro City is a modern mixed-use city located in the Lekki Free Trade Zone. The mini-city will have all that is needed for humans to be efficient. The city will allocate land for homes, schools, health centers, entertainment centers, offices, government houses, etc
How much is a plot of land in Alaro City?
You can get a 500-square-meter plot of land for around $60,500. The payment can be spread over 12 months.
How big is Alaro City?
Alaro City is seated on 4000 hectares of land, which is equivalent to putting together about 5000 standard football stadium.
