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Banana Island is an artificial island in Lagos State, Nigeria. It
is located in the Lagos Lagoon and attached to the North-Eastern Ikoyi
Island by a dedicated road strip which is linked to the existing road
network.

Exclusive_Villas_in_Banana_Island
Exclusive Villas in Banana Island

If you never heard about the Island, now you know. Banana Island is
Nigeria’s most extravagant and expensive neighborhood – on par with the
Seventh Arrondissement in Paris,  La Jolla in San Diego, California and
Tokyo’s Shibuya or Roppongi neighborhoods.

Ocean-Parade-Tower-Banana-Island-Picture
Ocean Parade Tower. Banana Island

 The exclusive playground of Nigeria’s obscenely wealthy, Banana
Island is an artificial island built on reclaimed land in Ikoyi-Lagos.
From an aerial view, the island is actually shaped like a banana, hence
its name. Sitting on 1.6 million square meters, the sumptuous island is
divided into about 535 plots ranging in size from 1,000 square meters
and 3,000 square meters.

Banana_Island
The Neighborhood

 Banana Island is a place of unrivalled opulence and grandeur. It’s an
entirely different world from other parts of the country. It’s a gated
community, and its inhabitants enjoy such luxuries as underground
electrical systems and water supply networks, 24 hour-electricity supply
(the only other place such privileged is the Nigerian President’s
residence), extremely tight security, good road layout, a central sewage
system and treatment plant and the well-cherished company of fellow
wealthy folks.

Eko_Atlantic
The Nearby Eko Atlantic

 The island is the most expensive place in Nigeria and one of the most
expensive in Africa to own a house. Property on Banana Island is
dollar-denominated. The average cost of buying a three bedroom apartment
is $2 million. However, if you’re just looking to hang around the
island for some time, and not to buy property, you can rent the same
apartment for about $150,000 per annum. But there’s a clause: you must
pay for an initial minimum term of 2 years – in advance. And there are
no refunds. Ever! Also, the tenant is also mandated to pay a ‘service
charge’ of $17,000 per annum.

Banana_Island_Playground
One of the Playgrounds

 A typical plot of land on the island usually goes for between $4
million and $6 million, and the cheapest building on the island costs
upward of $8 million. But because of the ridiculous prices of property
on the island, about 60% of the completed buildings are currently
unoccupied.

Banana_Island_Luxury_Apartments
Banana Island Luxury Apartments

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3 Comments

  • simon April 12, 2018

    i love to live in banana island

    Reply

  • alabi June 9, 2018

    It is a pity we are building banana island with out building d future of the children whom this island will later fall in to their hands. The child that is not well trained will later sell or destroy d house as it is happening in north east of Nigeria. Let provide functional free education to our children if only for primary to secondary only to save these island from future destruction.

    Reply

  • alabi June 9, 2018

    It is a pity we are building a banana island with out building d future of our children. The child that is not well trained will later sell or destroy d that island. Let give our children functional and free education from primary to secondry level.

    Reply

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