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Monday, 3 February 2020

Alaro City welcomes new wave of investments in production, housing in Lagos State

On the one-year anniversary of its launch in Lekki Free Zone, Alaro City announced a new wave of investments in Lagos State, with the commencement of operations of Ariel Foods, a multinational therapeutic food producer, and multi-sector investments in housing, soap and detergent production, construction materials and equipment, media and energy.

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,” Governor Sanwo-Olu said. “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. 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.

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.”

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.

Universal Homes Executive Director John Latham 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."

The first phase of Unity Homes at Alaro City will feature up to 500 apartments, starting at USD 55,000, with future phases expanding the project to 2,000 apartments.

Rendeavour Chairman Frank Mosier said: “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, a housing developer and numerous other companies 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.”

Lekki Worldwide Investments Limited Chairman Biodun Dabiri said: “The stream of investment into Alaro City and the management team’s top-quality construction and infrastructure bear testament to Rendeavour’s ability to deliver on its promises, for the benefit of Lagos State and Nigeria.”

Rendeavour 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.

Sana Industries FZE Founder Alaa Alghadban said: “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.”

Sana Industries will be 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.

HMD Africa CEO Matthew Khouri said: “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.”

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