Alaro City, A Thriving Urban Development In Nigeria, Is Delighted To Announce The Successful Completion And Handover Of $90 Million Worth Of Universal Homes. This Milestone Showcases The Continued Growth And Progress Of Alaro City As A Premier Residential Destination, Providing High-Quality, Affordable Housing Options To Its Residents. The Completion Of These Homes Marks A Significant Achievement For Alaro City, Reflecting The Commitment To Delivering Exceptional Living Spaces While Enhancing The Overall Quality Of Life For Its Community.

First 48 Units of Universal One Apartments Handed Over by Universal Homes and Alaro City

Universal Homes, in partnership with Alaro City, has recently completed and handed over the first 48 units of Universal One apartments. This development, valued at $90 million, is a significant achievement for new homeowners and the housing sector in Nigeria, which is facing a massive deficit of more than 20 million units.

The housing shortage in Nigeria has been an ongoing challenge, leaving millions of people without affordable and quality homes. The completion of the Universal One apartments, utilizing advanced formwork construction methods, demonstrates the potential of innovative building techniques to address this housing deficit.

Located in Alaro City, off the eight-lane Main Boulevard, Universal One offers a range of amenities such as a three-acre park, recreational complex, swimming pool, football pitch, gym, and more. The next 48 units will be handed over to owners by December 2024, and the entire 576-apartment first phase of the project will be completed by the end of 2026.

The Managing Director and Chief Executive of Lekki Worldwide Investments Limited, Mr. Adeniyi Akinlusi, expressed his congratulations to all stakeholders involved in this monumental achievement. He highlighted the significant role in Nigeria’s economic expansion played by the growth and development within the Lekki Free Zone. He also extended congratulations to the new homeowners, wishing them happiness and prosperity in their new homes.

The key handover event of Universal Homes was attended by new homeowners, Alaro City board members, Universal Homes executives, and representatives from Alaro City. The prices for the two-bedroom apartments start at $79,950.

Mr. Yomi Ademola, Chairman West Africa for Rendeavour and Managing Director at Alaro City, expressed his optimism regarding the investment potential of Universal Homes. He mentioned its proximity to the future airport, the fast-track connection to Lagos through the Epe Expressway or the soon-to-be-built Lagos-Calabar Coastal Highway. These factors, combined with access to the growing business hub and high rental demand, make it a unique investment opportunity.

John P. Latham, Executive Director of Universal Homes FZE, stated that the decision to develop Universal One in Alaro City aligns with the company’s objective of identifying locations with the best long-term growth potential for home investors. He emphasized that Universal One will serve as a model for future developments within Alaro City, showcasing how modern and affordable housing can seamlessly integrate into a dynamic urban setting.

Alaro City, a 2,000-hectare city development within the Northwest Quadrant of the Lekki Free Zone, offers industrial-grade standard roads, a privately owned Independent Power Plant (IPP) providing 24-hour electricity, water, drains, sewage systems, and access to ICT infrastructure. The development is supported by a registered and unencumbered Certificate of Occupancy (C of O) title.

Rendeavour, Africa’s largest new city builder, has been endorsed by The Economist magazine. By providing secure land title, world-class master planning, high-quality infrastructure, and utilities, Rendeavour successfully de-risks large land holdings for city-scale developments. Their mixed-income cities offer homes, offices, industrial areas, schools, and hospitals, which allow residents to live, work, and enjoy their lives without the burden of commuting through congested regions.


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