Alaro City Brochure

AlarOcity

City of extra-ordinary possibilities

Apartments

Estate Plots

Residential Plots

Commercial/Light Industrial

Alaro City Presentation by Eredge Properties Ltd.

02

DO YOU KNOW THAT...

1. You can pay zero corporate income tax on income generated in the city.

2. You can pay zero withholding tax on dividends.

3. You can pay zero VAT on purchases made within the city.

4. You can pay no customs duties on imports.

5. Revenue collection in USD allowed in the city.

6. You can have no inspection of imports until arrival on-site in the city.

7. You can have exemption from FX controls.

8. You can repatriate foreign capital investment and gains in the city.

9. You can have up to 100% foreign ownership of business.

10. You don't have need for Company Expatriate Quota.

As a corporate entity,

1. You can have 24/7power without investing in power generating set in the city

2. You don't need to dig borehole in other to have good portable water

3. You don't need septic tank and soak away pit

4. You don't have to invest on excessive security

5. You can buy goods without paying VAT

6. You can have international standard green areas and recreation facilities

As an individual,

In addition, this city has enjoyed about 70% capital appreciation in about 3 years despite COVID and all.

Plot of land sold for N18m in 2018, selling for N32.25m (@ ) right now! N550 to $1

WHERE IS SUCH CITY LOCATED?Right here in Lagos State, Nigeria.

Welcome to

City of extra-ordinary possibilities!

AlarO city

Alaro City presentation by Eredge Properties Ltd.

https://eredgeproperties.com

03

The Lekki Free Zone, created in 2006, is a modern free zone managed in accordance with international best practices. The zone's 16,500 hectares are divided into four quadrants and managed by various operators, benefiting from Lagos State's position as the premier distribution hub in West Africa.

The Lekki Free Zone is located in the southeastern corner of Lagos State, facing the Atlantic Ocean to the south and the Lekki Lagoon to the north. It is bordered by five kilometers of coastline and is 50 kilometers from Victoria Island, Lagos.

The Zone is fast attracting local and foreign investors. The largest oil refinery in Africa, a fertilizer plant, petrochemical plant and a sub-sea gas pipeline project is under construction by African richest man, Alhaji Aliko Dangote, and valued at $17 billion. The largest Deep Sea Port in West Africa is also under construction opening up access for export to West Africa and beyond.

The Lekki Free Zone is regulated by the Nigerian Export Processing Authority and is subject to the laws of the Federal Republic of Nigeria.

LEKKI FREE TRADE ZONE

stLargest in West Africa 1 Private Free Zone in NigeriaOne of the fastest growing Free Zone in the World Unique Geographical LocationIncorporates the largest Deep Sea Port in West Africa fDi 2021 Global Free Zones Award Winner

Divided into 4 Quadrants -North West, North East, South West, South East

FACTS ABOUT LFZ



04

Alaro City is located in the North West Quadrant of Lekki Free Zone. Rendeavour and Lagos State Government, through their subsidiary, North West Quadrant Development Company (NWQDC), have conceived Alaro City as a 2,000-hectare, market-led project.

NWQDC is authorised by both the Federal Government of Nigeria, through the Nigeria Export Processing Zones Authority, and the Lagos State Government as an entity to develop, operate, administer and manage Alaro City.

Alaro City is planned as a 2,000 hectare city within the North-West Quadrant of the Lekki Free Zone.

As with other cities by Rendeavour, Alaro City is designed as an inclusive mixed-use, mixed-income city. This means that everything you would expect within our current cities will be present. Homes, shops and retail units, commercial offices, light industrial and warehousing and logistics will all feature heavily. Social amenities such as parks, schools and health centres will also be present within Alaro City. As a matter of fact, it has 150 hectares (375 acres or 2,250 plots) of parks and open spaces. Central to the plan is a 14 hectares park that will be used to host community events. A main boulevard will connect the commercial, enterprise, and educational areas on the north with the industrial area to the south.

Alaro City will feature an international trade gateway with a new seaport and airport. Its master plan aims to protect a lush forest between two lagoons and enable long-term resiliency for the future city. The plan is structured around six greenways, aligned north-to-south with the prevailing winds and existing topography, and spaced 800 meters apart to bring all residents and workers within five-minute walk of open space. The greenways are also designed to convey stormwater into the lagoon to the north.

ALARO CITY

Of all the developments within the massive 16,500 hectares (41,250 acres) Lekki Free Zone, it is interesting to note that Alaro City is the only development right on the Lekki Epe Expressway and adjacent the proposed International Airport.

Fig 2- Layout of Alaro City ini�al 1,000 hectares



05

Fig 3 – Layout Of Lekki Free Zone showing Alaro City

The first 1,000 hectares has been master-planned by Skidmore, Owings & Merrill (popularly known as SOM) alongside local planners, Cityscape.

SOM is a global architectural, urban planning and engineering firm. It was founded in Chicago in 1936 by Louis Skidmore and Nathaniel Owings. In 1939, they were joined by engineer John O. Merrill.

With a portfolio spanning thousands of projects across 50 countries, SOM is one of the most significant architectural firms in the world.

Some of the well known designs of SOM includes the following:l Burj Khalifa – tallest building in the world, located in Dubail One World Trade Center – (also known as One World Trade, One WTC, and formerly the Freedom

Tower) is the main building of the rebuilt World Trade Center complex in New York City. One WTC is the tallest building in the United States, the tallest building in the Western Hemisphere, and the seventh-tallest in the world.

l Chow Tai Fook Centre – also known as Wuhan Riverfront Erqi Tower. Located in Wuhan, China, it is a signature development hotel, serviced apartment and hotel uses.

l Urban master plans for the Charenton-Bercy district - Parisl New Covent Garden - Londonl New Headquarters of Walt Disney – Burbank, Californial Design of the Moon Village - a concept for the first permanent lunar settlement, developed with the

European Space Agency and Massachusetts Institute of Technologyl and many more projects, too numerous to list!

LAYOUT DESIGNERS



06

Some Of The Investors Of Rendeavour

He is a lead investor in Rendeavour and the non-executive chairman of the

board of directors. Frank is also the founder and head of investments of

Kazimir Partners. Kazimir Partners manages investments in public and

private equity and real estate in emerging and frontier markets with a focus

on Emerging Europe and Sub-Saharan Africa.

After more than 40 years as an entrepreneur working in the UK and

overseas, Michael Ashcroft is an active investor in new companies and

ideas. At various points in his career, he has headed companies employing

more than 100,000 people. In 2000, he was knighted and became a member

of the House of Lords (Lord Ashcroft of Chichester, KCMG). Lord Ashcroft

has written 17 books, and four have been made into television series.

FRANK MOSIERChairman

LORD ASHCROFT KCMG PCDeputy Chairman

He is a pioneer of capital markets in Africa and Central & Eastern Europe,

responsible for over $200 billion of investment flows to these regions. He

has been living and working in emerging markets for more than 25 years.

Stephen is the largest shareholder in Rendeavour. Prior to Rendeavour,

Stephen founded Renaissance Group, in 1995, Renmoney and many more.

He is a New York qualified attorney with significant legal and business

experience across three continents, including corporate and project

finance, mergers & acquisitions and urban land development projects.

Yomi has been with Rendeavour since its inception and prior to that

worked with Renaissance Capital and Renaissance Partners.

STEPHEN JENNINGSFounder & CEO

YOMI ADEMOLACountry Head, Nigeria

Rendeavour - is Africa's largest urban land developer, with development portfolio covering over 30,000 acres (12,000 hectares) of land in the urban growth trajectories of major cities in Kenya, Ghana, Nigeria, Zambia, and Democratic Republic of Congo.

A typical Rendeavour development is 2,500 acres or larger and is designed as an integrated live-work-play urban environment, free of the infrastructure deficits of neighbouring city centres.

Rendeavour is backed by American, Norwegian, British and New Zealand investors, investing its own capital. It is therefore not bogged down by debts.

By providing secure land title, world-class master planning, high quality infrastructure and utilities, Rendeavour de-risks large land holdings for city-scale developments.

RENDEAVOUR



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Though Alaro City is a 2,000 hectares development, initial development is focused on 1,000 hectares.

Highlights of the initial 1,000 hectares –l Master Layout Designed by SOM as described abovel Certificate of Occupancy (C of O) already obtained.l Incorporates Light Industrial (major industrials are in the other quadrants of the free zone),

commercial, unit residential plots, bulk land for mini estate development and apartments.l An 8 lane 4.9km road separates the industrial from the residential, construction work already started,

ndwith contract period of 18 months i.e. completion is early 2 quarter of 2023

l Road above was awarded to Messrs Craneburg (same company handling Lekki Epe road for Lagos State) at a cost of $12m

l To be powered by an Independent Power Plant (IPP) for 24/7 powerl Other utilities to be provided includes water, waste management – no need for generator, borehole,

septic tank etc

1. ApartmentsUniversal One is a family-friendly, master-planned community/estate in the heart of Alaro City.It is being built by Universal Homes (who are also building thousands of units in Rendeavour's other project, Tatu City, in Nairobi Kenya).

The community consists of 576 two-bedroom (expandable to 3 and 4 bedrooms) contemporary apartments offering a tranquil, yet modern living experience powered by world-class amenities and Alaro City's commitment to greenery and nature.

Prices range from $76,700 to $88,200 depending on floor and view type. However, it is possible to get up to $14,000 discount depending on payment terms and timing.

PRODUCTS OFFERING


GROUND

1st FLOOR

2nd FLOOR

3rd FLOOR

STANDARD (US$)

$76,700

$78,700

$80,200

$80,200

BOULEVARD VIEW( US$)

$78,700

$81,700

$83,200

$83,200

PARK VIEW (US$)

$78,700

$84,700

$88,200

$88,200

STANDARD PURCHASE PRICE FOR UNITS

RESERVE

A

UNIT

NOW

TO

GETA

$5,000

‘EARLY

BIRD’

DISCOUNT

l 3 acres parkl Luxury swimming pooll Clubhousel Supermarketl Fitness gym

l Restaurantl Sports courtsl Kids playgroundl Jogging traill BBQ corner

Proposed Universal One Amenities:


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Plot Type/Zones Size (sqm) Price per sqm ($) Price ($) Payment Period

Low Density

Medium Density

High Density

500

500

1000

110

125

145

55,000

62,500

145,000

12 Months

12 Months

12 Months

Plot Prices

l 3. Estate Plots This will be determined principally by type of development being considered. Type of development

will be what will be used to know particular zone to buy into. The Universal One Apartments described above is a typical example of this. It sits on more than 4 hectares being privately developed by Universal Homes


2. Residential PlotsThese are subdivided into Low, Medium and High Density Plots based on the zones.

Low Density Zone – Currently priced at $110/sqm. In this zone, buyer can only build single family dwelling not exceeding ground floor and 1floor up

Medium Density Zone – Currently priced at $125/sqm. In this zone, buyer can build twin units, not exceeding ground floor and 2-3 floors up

High Density Zone – Multi-dwelling apartments are allowed here with structures not exceeding ground floor and 4-6 floors up. Unit price is $145/sqm.

l Payments above are spread over 12 monthsl Initial deposit of 33.3% and balance over 12 months l Bigger Plot Sizes are availablel Payments are acceptable in Naira Equivalent calculated at the prevailing USD/NGN exchange rate

on the parallel market, referenced at the foreign currency inward transfer rate on the date payment


l Underground water storagel 24-hour security CCTVl key card access into the estatel Lush landscapingl Well-lit common areas

l Solar-powered streetlights.l Secured parkingl 24-7 Electricity

09

Some other corporate citizens of Alaro City as below


STARIUM – Sitting on a 30,000 sqm of land. It is a member of the BUA group. It is currently building one of

the largest detergent factory in Africa in Alaro City.

KENOL – 20,000sqm. Kenol was registered in February 1988 to carry out Engineering services in the area of Electrical, Mechanical and Communication Engineering.

SANA GROUP – Engaged in all business activities within the construction industry. Although their primary market is Nigeria, they are active throughout west Africa and the Middle East.

ROSETTEE - was incorporated in 1988. Since inception, the operation of the Company has been steel structure and Civil Engineering that meets both local and international codes of practice.

ARIEL FOODS - (sister company Insta Products, Kenya), is a privately-owned food business manufacturing highly nutritional food. It manufactures excellent quality, ready to eat therapeutic foods (“RUTF and RUSF”). Its company is already operation in Alaro City since February 2020. The facility has a yearly production capacity of 18,000 metric tonnes!

Some Existing Corporate Citizens Of Alaro City

l 4. Commercial/Industrial Plots – Minimum purchase of 1,000sqm.a. Commercial Plots – earmarked for entities like banks, supermarket, offices etc. Comes at unit price

of $165- $200 per sqm.

b. Industrial Plots – this is for light industries, warehouses etc. Comes at unit price of $165- $200 per sqm.


10

Other On-going Or Proposed Projects within or connecting to the axis

Design and construction of 18.7-kilometre six-lane rigid pavement carriageway Highway from Eleko Junction in Ibeju Lekki to Epe T-Junction

Design and construction of 26.7-kilometre six-lane rigid pavement carriageway Highway from Abraham Adesanya Roundabout to Eleko Junction

Construction of the Lekki regional road. The road is expected to usher in the construction of the proposed Fourth Mainland Bridge which is also expected to start from the Lekki - Epe axis.

Coastal Road will, in the first phase, begin from Koko in Delta State passing through Okiti-Pupa in Ondo to Ijebu Waterside in Ogun State before terminating at Epe/Lekki corridor in Lagos state.

The Ondo State Government and the Niger Delta Development Commission, NDDC, have jointly flagged off the Araromi–Akodo/Ibeju-Lekki Road, connecting Ondo and Lagos states.

On-going

On-going

On-going

On-going

Not Started


SOME OTHER VALUE DRIVERS AROUND ALARO CITY ENVIRONS

Dangote Refinery Epe-Ijebu Ode Expressway

Proposed Airport Deep Sea Port - 67% completed


11

Some Other Properties For Sale

Pantheon Smart Homes in Lekkifrom N29m to N170m

Property ID: 9671

5 Bedroom Duplex at Royal Gardens Estate, Ajah@N160m

Property ID: 1409

4 Bedroom Duplex at Sangotedo, Ajah.@ N40m

Property ID: 1247Property ID: 1247Property ID: 1247

Shopping Complex @ Mulero, AgegeN170m


2 Plots at Lakowe in Harmony Estate@N23m


7 Plots opposite LBS Ajah@N550m


All these and more properties are available on our website.



Please call me now!

Palace Road, Ogunfayo Bus Stop, Eputu

Ibeju-Lekki, Lagos State, Nigeria.

+234 703 107 8374, +234 803 845 5922

[email protected]

eredgeproperties.com

EREDGE PROPERTIES LTD.EREDGE PROPERTIES LTD.

Alaro City Brochure

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