Part of the Lagos Local Government Area of Eti-Osa in Central Lagos. All it takes is money, planning and a vision. “Housing is quite highly priced in Banana Island, which is the way it was intended to be. Aliko Dangote. They are also negotiating to build a 5-star hotel on the island, along with an array of smaller Guest Houses. Alhassan Dantata. The original Banana Island construction project entitled Lagoon City was the brainchild of the Late Chief Adebayo Adeleke, a University of London trained Civil Engineer (MICE), and CEO of City Property Development Ltd. Adeleke had originally commissioned a new urban development in Maroko, Victoria Island, but that project had been acquired by the Lagos State government. We wanted somewhere more quiet and partitioned,” Chidi says. Copyright Stears News Limited 2020. They say I am rich and lucky to have access to a place like Banana,” he muses. [6] At launch flats in Ocean Parade sold for over US$400,000.[7]. Banana Island is proof that things can work properly in Nigeria. What does it cost to join the class of the rich and renowned like Mike Adenuga (Globacom), Tayo Ayeni (Skymit Motors) and Sayyu L. Dantata (MRS Oil) among a host of other wealthy folks who have invested in properties for sale in Banana Island? A plot of land, for example, goes for nothing less than $1 million,” Ikenna asserts.*. Land Area : 2476sqm. That is thanks to an independent power plant, which directly supplies the estate with electricity. “At the very least there’s 20 hours’ worth of electricity in Banana Island,” says Chidi on the state of power in the Estate. One of them is the calibre of people living in the estate. I navigate my way towards the second gate and some speed bumps. ( Residential) .. Read more, FOR SALE: Banana Island - Location - Residential Side 2,300sqms - Price - N580k/s.. Read more. The cost of housing is a result of many factors. You may only share On the right side of the estate is the strictly residential area; mostly comprised of private homes while the left side is the mixed area, in use by for-profit businesses including 9mobile and Olaniwun Ajayi, as well as service stations and a few private houses. The estate is also a reminder of Nigeria’s broader failure. The island was constructed by the Lebanese-Nigerian Chagoury Group in partnership with the Federal Ministry of Works and Housing [1][2] and is considered to be on par with the Seventh Arrondissement in Paris, La Jolla in San Diego, and Tokyo's Shibuya and Roppongi neighbourhoods. At some point, there were too many clubs and businesses moving there. Banana Island, is an area of Ikoyi, Lagos, Nigeria, 8.6 kilometres east of Tafawa Balewa Square. Similar to many of the developments on the island, it has dedicated leisure facilities such as a private health club - with tennis courts, squash courts and a swimming pool surrounded by extensive gardens. We have a total of 177 Land for sale in Banana Island Ikoyi Lagos updated on 21 Oct 2020 . Banana Island hosts several high end residential developments such as Ocean Parade Towers [5] - a series of 14 luxury tower blocks strategically situated at one end of the island to take advantage of 180 degree panoramic views overlooking the lagoon. DEVELOPMENT - The cost of land on Banana Island has acknowledged to the degree that a land size of 1000 square meters offers between N160,000,000 to N200,000,000 and a plot of land size of 2000 square meters offers between N320,000,000 to N400,000,000. The estate is a luxury that most of the population cannot afford. The deliberate zoning, the constant security and access to power, well-maintained amenities. It is also a picture of Nigerian exceptionalism. Portrayed by Forbes Magazine as the restrictive play area of Nigeria's high and mighty, Banana Island is a world all alone which is self-serving to its inhabitants as the area gives additional extravagant facilities that are not regular with different zones in Nigeria. the space accessible on the land. Iyabo Obasanjo. How consumption determines the economic impact of pandemics. Even Mike Adenuga, CEO of Globacom and one of the wealthiest men in Africa. He wanted to create a development that would "Make Nigeria Proud", and engaged Minoru Yamasaki the architect of Manhattan's World Trade Centre 'Twin Towers' building. These incorporate a focal sewage arrangement of plants, super tight safety efforts, costly street format, day in and day out the supply of power and water and underground electrical supply frameworks. The Island is a planned, mixed development with dedicated areas for residential, commercial and recreational activities. All of these things make the estate attractive and expensive,” says Ikenna on why property here is so expensive. And yet, for all its aspirations to perfections, Banana Island cannot escape its surroundings. Residents enjoy luxuries such as near-constant electricity, water, and drainage. has acknowledged to the degree that a land size of 1000 square meters offers between N160,000,000 to N200,000,000 and a plot of land size of 2000 square meters offers between N320,000,000 to N400,000,000. Banana Island is entirely low-density residential, hence, structures are not to surpass three stories. ( Residential) .. Read more, FOR SALE: Banana Island residential 1000sqm Title - Fed Price - 450k/sqm .. Read more, FOR SALE: Banana Island waterfront residential zone 1200sqm Title - Fed Price - 450k/.. Read more, FOR SALE: Waterfront Bare Land Measuring Approximately 1400sqm Zone J Facing Lekki Bridge .. Read more, FOR SALE: A beautiful 5 bedrooms modern duplex is available for sale in Ikoyi. Stears Business content using our sharing buttons. Residents are aware of this; some embrace the exclusivity, others consider it with unease. Sign up to get on the list. on the Island of Lagos. Consequently the land was filled in to create a banana shaped island, hence Banana Island. Refine your property search in Banana Island, Ikoyi, Lagos by price, number of beds and type of property, FOR SALE: Waterfront Land Measuring 1,839 sqm at Zone QA2. This is Banana Island, Nigeria’s most exclusive estate, where secret passcodes are exchanged like in a bad spy movie. Here, commercial and residential zones are distinguished.

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