In partnership with private investors, the Lagos State Government will begin construction of the airport next year. The airport was designed as a Code F and will have the capacity to accommodate the world’s largest passenger airliner, the Airbus A380.
Investors have already begun voting with their cheques as a result of the development of the Lekki Free Zone axis. Anthony Asuzu, a real estate lawyer said, “International airports are powerful stimulators for property appreciation within their periphery; it is estimated that, within the first two years, after the opening of the airport, the appreciation could be as high as 40 per cent.
With a world-class infrastructure that consists of an eight-lane main boulevard road, road networks with storm drainages, a hybrid independent power plant , internet connection, water and retail gas supply, centralised sewage and waste-water treatment plant, Alaro City’s value proposition has already attracted over 60 commercial companies, including industry giants such as BUA Group’s Starium, Mantrac Caterpillar, and Ariel Foods, as well as 400 residential clients.
He assured existing and potential investors that developers are unwavering in their mission to create a modern city that will benefit from critical infrastructures, such as the air and seaports, and these will contribute to the economic growth in the State and Nigeria.