Alaro City is fast becoming an investment hub, as it hosts several firms across manufacturing, construction, energy, and media sectors among others in Lagos Free Trade Zone.
Currently, 16 companies are designing or building their facilities, and 3.5km of initial road networks and a modular 50MVA power plant are under construction.
Lagos State Governor Babajide Sanwo-Olu joined American, British, Canadian, Nigerian and Kenyan investors from Ariel Foods, Universal Homes, HMD Africa, Sana Industries, Loatsad, Kenol and ASB Valiant to inaugurate latest indigenous and foreign direct investments in Lagos State.
“I am pleased to witness the start of operations of Ariel Foods, which has built a remarkable facility in less than one year. I am equally pleased to welcome Universal Homes, HMD Africa, Sana Industries, Loatsad, Kenol and ASB Valiant to the Lekki Free Zone. The confidence of international and Nigerian investors is a testament to Alaro City as the location of choice for businesses in the Lekki Free Zone, and to the ease of doing business in Lagos State.”
A partnership between Rendeavour, Africa’s largest new city builder, and Lagos State Government, Alaro City is a mixed-income, city-scale development with industrial and logistics locations, complemented by offices, homes, schools, healthcare facilities, hotels, entertainment and 150 hectares (370 acres) of parks and open spaces.
Frank Mosier, Chairman of Rendeavour, said the organisation is building seven inclusive new cities in Africa: in Nigeria, Kenya, Ghana, Zambia and Democratic Republic of the Congo. As a master developer, Rendeavour invests more than $250 million 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.
“When we launched Alaro City one year ago, we promised to deliver investment and jobs to Lagos State and Nigeria, so it is with great pleasure that we welcome a major food producer and housing developer to Alaro City. Global, regional and local companies are building facilities in Alaro City, taking advantage of its ideal location for transport and logistics, free zone status, secure land title and high-quality infrastructure.”
Ariel Foods – with its sister company Insta Products (Kenya) – is a top supplier to UNICEF and World Food Programme globally. Nearly half of all deaths in children under five years can be attributed to malnutrition. Ariel Foods is a leader in combatting malnutrition in children, which can lead to poor cognitive development, learning capacities and increased risk of mortality.
Ariel Foods Chairman, Dhiren Chandaria, said: “Ariel Foods is proud to expand its production to Nigeria, and to play a major role in food and population security in West Africa through the production of Ready-to-Use Therapeutic Foods to feed malnourished children and to supplement the diets of persons with special nutrition requirements.”
John Latham, the Executive Director of Universal Homes, said: “With 2,000 homes completed and under construction in Kenya, Universal Homes is bringing its high-quality, accessibly priced apartments to Nigeria, in partnership with Alaro City. We are pleased to play a role in the housing agenda of Lagos State and to be the pioneer residential development in Lekki Free Zone surrounded by amenities like shops, schools and healthcare.”
According to him, the first phase of Unity Homes at Alaro City will feature up to 500 apartments, starting at USD 55,000 (₦20 million), with future phases expanding the project to 2,000 apartments.
Another company located at Alaro City, Sana Industries, is developing its 43,000 sqm site as a multi-building manufacturing campus for products serving the needs of Nigeria’s rapidly expanding economy. Products will include concrete blocks and pre-formed paving products; a range of environmentally friendly foam-cored “sandwich panels”; construction chemicals and coatings; and industrial doors.
“Sana Industries’ decision to locate in Alaro City was deliberate, because we want to grow our business in a modern, integrated community, with a full range of essential services such as roadways, electricity, water and waste removal,” said Alaa Alghadban, the Founder of Sana Industries.
HMD Africa, another investor in Alaro City, plans to establish a distribution centre in the city’s light industrial district for heavy machinery, equipment and spare parts for West Africa, as well as a training academy to promote the development of technical skills in the industry.
“At HMD Africa, we believe in being located at the heart of things, and there’s no better way to achieve this than growing our business in Alaro City, within Lekki Free Zone’s business-friendly environment,” said Matthew Khouri, the Africa CEO of the company.
Ayodele Ikumapayi is the CEO of ASB Valiant, one of the companies that will operate from Alaro City. “ASB Valiant’s end-to-end virtual ‘LNG to power’ solution guarantees reliable, cost effective and sustainable services to operators within Alaro City, with stable energy tariffs,” he said. “Our fully operational base provides one-stop access to a comprehensive range of solutions for businesses and individuals at Alaro City.”
Kenol FZE is also located in Alaro City. The firm’s Chairman, Engr Olu Ogunduyile said: “Alaro City is an ideal location for our new transformer manufacturing factory, in conjunction with our Turkish technical partner, MEKSAN, from where we will tap into Lekki Free Zone’s business friendly environment and benefits.