Alaro City, Universal Homes to raise homeownership with keys handover to buyers

A significant number of home seekers in Nigeria will be leaving the housing market in the next four days as Universal Homes says the first phase of its residential apartments are ready for occupation.

Precisely on Saturday, August 31, the developer and Alaro City will be hosting a historic opening ceremony during which keys will be handed over to those who bought the apartments for full possession of their homes. That is expected to raise homeownership level in Nigeria.

The keys handover, according to a statement by Alaro City at the weekend, will be marking a significant milestone in Nigeria’s real estate and urban development landscape, more so as it will be reducing the number of renters in Lagos which is adjudged the most active rental market in Nigeria.

Located in Alaro City, an expertly planned urban development in the Lekki Free Zone, the uniquely designed apartments have been planned to redefine modern living.

Alaro City is setting new benchmarks by blending cutting-edge technology with sustainability and community-focused designs, ensuring that residents enjoy not only comfort and convenience, but also an environment that fosters long-term growth and well-being.

“This development is a testament to our unwavering commitment to building a city that meets the highest standards of modern living, while preserving the environment and encouraging a sense of community,” Yomi Ademola, managing director of Alaro City, said.

“The completion and handover of the first phase of Universal Homes signifies the beginning of a new chapter in Alaro City, where residents can enjoy the benefits of smart home technology in a serene, well-planned urban environment,” he added.

Ademola explained that the grand opening event is more than a ceremonial handover, adding that it is a celebration of the vibrant community that is beginning to take root in Alaro City.

Part of the festivities is the Family Fun Fair, which is designed to provide an enjoyable day for investors, partners, and staff, reinforcing the strong community bonds that are central to Alaro City’s vision.

Alaro City is conceived as a 2,000-hectare city development located within the Northwest Quadrant of the Lekki Free Zone with a registered and unencumbered C of O title. It features industrial grade standard roads, including an eight-lane, 60-metre-wide boulevard which is one of the largest privately owned roads in Africa; 24-hour electricity via privately owned IPP, water, drains, sewage, ICT, etc.

Ademola assures that, as the city continues to grow, it remains committed to delivering on its promise of creating a city that not only meets the current needs of its residents, but also anticipates their future aspirations.

“With more developments on the horizon, including commercial, recreational, and additional residential spaces, Alaro City is poised to become a beacon of modern urban living in Nigeria,” he assured further.