A growing real estate and urban development project in Nigeria, Alaro City has restated its commitment to help address the challenges of housing deficits in the country.
The firm also urged the government to assist in ensuring adequate security in the country to enable the company to attract more investors.
The Managing Director, Alaro City, Yomi Ademola, at a press conference, lamented insecurity in the country.
“Nigeria is the largest trading partner in the whole of China. I was in China a few weeks ago to attract investors, and the first question they asked was what of security; we didn’t know what to say. We all need to come together and address this problem,” he added.
The real estate company expressed readiness to hand over 96-unit apartments in August to their owners. Ademola said the plan to reach its target of building about 576 unit apartments was near as 200-unit apartments have already been sold, out of which 96 were ready to be handed over to their respective owners.
He said the Alaro City, which is a joint venture between Rendeavour, and the Lagos State government is planned on 2,000 hectares and the city has a good track record with Small, Medium Enterprises (SMEs), and international companies, as well as multinationals and domestic players.
Citing three major benefits that drive the city, Ademola emphasised urbanisation and the need to decongest the old city, the real estate and housing deficits through proper governance structure as well as industrialisation drive.
He said the city is creating a sustainable, eco-friendly business model that empowers companies and investors to operate in a seamless environment that positively impacts business objectives.
With a critical road infrastructure, investments within the city, and connections to the Lekki expressway and Deep Sea Port, he said it allows businesses to optimise manufacturing and foster trade with partners across Nigeria and around the world.
According to him, there is a need for the country to be competitive, “we need to be competitive, other countries are opening up and once they are here we know they are competitive, we create more jobs and all that.”