This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
廔 combines 广 (building/eaves) with 婁, which likely contributes the sound. The exact historical development is uncertain.
The outer 广 suggests a building or eaves, and the inner 婁 is a complex shape. Without a clear meaning, picture an old, mysterious building with an unreadable sign.
For ロウ, imagine a low, old building: low -> ロウ, matching the eaves-like shape of 广.