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Ambode flags off $250m Alaro City in Epe
LAGOS—GOVERNOR Akinwunmi Ambode of Lagos State, yesterday, launched the largest satellite city in Epe, Lagos in partnership with Africa’s largest urban developer, Rendeavour, in order to boost foreign direct investment in Nigeria with the expectation of creating tens of thousands of jobs for the teeming Nigerian youths.
In his address, Governor Ambode said: “We welcome the substantial foreign direct investment Rendeavour is making in Alaro City, which will further enhance the Lekki Free Zone as the gateway of choice to Nigeria and West Africa as well as supporting the local community and symbolises the government’s continuous support for private investors and fast tracking development.”
On his part, founder and CEO of Rendeavour, Stephen Jennings, said: “We are proud and delighted to bring our successful inclusive city model to Nigeria and Lagos State, the heart of the country’s vibrant economy.
“Our partnership with Lagos State will ensure that Alaro City is an economically sustainable city open to all Nigerians.” We already look forward to the development of Alaro City and to its 2,000 hectares, to accommodate the rapid growth of the Lekki Free Zone.
“Rendeavour is building seven new cities in Africa: in Nigeria, Kenya, Ghana, Zambia and Democratic Republic of the Congo. As a master developer, Rendeavour invests over $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.
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