How consumption determines the economic impact of pandemics. Banana Island, which is Nigeria’s answer to Paris’s Seventh Arrondissement, San Diego’s La Jolla, New York City’s Tribeca and Tokyo’s Shibuya and Roppongi, is a … Announcing your plans is to supply your enemies with the ammunition ... they need to shoot down those plans. There’s a substantial amount of security, independent power, good road network. Iyabo Obasanjo. Or, at least, a reminder of the ridiculous cost of success here. Banana Island, Lagos Real Estate is the most wanted area of houses in all Nigeria! Banana Island, which is a prime land goal in Nigeria, is an exceptionally upscale private neighbourhood situated in Ikoyi on the Island of Lagos. Banana Island sits on approximately 1,630,000 square metres of land, which spills into the Lagos Lagoon, and has become a Nigerian version of Beverly Hills and Burj Khalifa. 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. 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 island was constructed by the Lebanese-Nigerian Chagoury Group in partnership with the Federal Ministry of Works and Housing and is considered to be on par with the Seventh Arrondissement in Paris, La Jolla in San Diego, and Tokyo's Shibuya and Roppongi … Among these properties are houses, lands, shops, apartments, flats and commercial spaces in Banana Island, Ikoyi, Lagos. Banana Island sits on approximately 1,630,000 square metres of land, which spills into the Lagos Lagoon, and has become a Nigerian version of Beverly Hills and Burj Khalifa. He puts the average price of renting an apartment in the estate at $22,000 to $150,000 a year – depending on what end of the estate the house is located. Every locality should have a park where people can relax, that should not be a luxury. I do laff wen pple say "dia is no money in Nigeria".in dis Nigeria we hav pple usin cars dat worth 28milion naira,we av pple livin in banana island.I will surely mak it in dis country called Nigeria by God grace. Among these properties are houses, lands, shops, apartments, flats and commercial spaces in Banana Island, Ikoyi, Lagos. Even Mike Adenuga, CEO of Globacom and one of the wealthiest men in Africa. Averagely, the price of a luxury flat in Banana Island ranges between $130,000 and $200,000. Unfortunately for the Chief, as soon as he had reclaimed the land and the brilliance of the idea was unveiled, others were determined to wrestle the land from him, and the project was 'acquired' again with no consideration being paid to City Property Development Limited. All of these things make the estate attractive and expensive,” says Ikenna on why property here is so expensive. This property listing does not constitute property particulars.The information is provided and maintained by Agateval Nigeria Ltd. Nigeria Property Centre shall not in any way be held liable for the actions of any agent and/or property owner/landlord on or off this website. All it takes is money, planning and a vision. If you enjoyed this story, you'll probably love our daily emails. Many scoffed at Chief Adeleke's decision to select the Ikoyi Island perimeter, however they were unable to appreciate the foresight of the Chief, who promptly engaged the Westminster Dredging Company to dredge the foreshore, and create six interlinked and symmetrical islands. The deliberate zoning, the constant security and access to power, well-maintained amenities. On the residential side of the Island, planning permission is not granted for dwellings over 3 storeys high. Aliko Dangote. Copyright Stears News Limited 2021. FOR SALE ON BANANA ISLAND, IKOYI: TASTEFULLY FINISHED 5 BEDROOM FULLY DETACHED HOUSE ON BANANA ISLAND, IKOYI, LAGOS 5 bedroom fully detached house on 950 Square Metre land. Following a lengthy 10 year court case, Lagos State government offered other parcels of land as consideration for the Maroko development. All rights reserved. We have a total of 588 House for rent in Banana Island Ikoyi Lagos updated on 19 Jan 2021 . This is excluding a service charge of $17,000. It`s the Nigerian`s most extravagant, luxurious and expensive neighborhood. It is also a picture of Nigerian exceptionalism. Banana Island has one of the highest density of millionaires within its boundaries.Banana Island is a man-made island in Lagos State, Nigeria that is slightly curved in shape – like a banana. 46 Likes 1 Share; Re: Banana Island In Pictures by Nobody: 9:45pm On Dec 12, 2014; The Rich-Poor gap is just too much. Nigeria Limited", "Buyers jostle for N4.5b Ocean Parade Towers flats - Proshare", "West Africa / Regions / Ford Foundation", Federal College of Education (Technical), Akoka, Federal College of Fisheries and Marine Technology, https://en.wikipedia.org/w/index.php?title=Banana_Island,_Lagos&oldid=983529435, Articles with dead external links from July 2017, Articles with permanently dead external links, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License, This page was last edited on 14 October 2020, at 19:10. The master suite has two bath tubs (a floating one and a Jacuzzi), two vanity … For diet, see, Neighborhood in Lagos, Lagos State, Nigeria, Learn how and when to remove this template message, "The Chagoury Group Construction Division - Projects", "The Most Expensive Neighborhood In Nigeria", "Ocean Parade Tower – Banana Island – Ikoyi Lagos - I.T.B. Stears Business content using our sharing buttons. “We have street lights, family parks, halls, religious centres, convenience shops, pools, a minibus system and a golf course,” explains Chidi on the other perks that come with living in Banana Island. Resting at the Northeastern corner of Ikoyi, it is as if the estate and its residents don’t want to be found. His most ambitious project was developing one of the first man-made islands in the world — Banana Island in Lagos, Nigeria, starting in the late ’70s. Residents are aware of this; some embrace the exclusivity, others consider it with unease. Here, commercial and residential zones are distinguished. “At the very least there’s 20 hours’ worth of electricity in Banana Island,” says Chidi on the state of power in the Estate. Today at 12:01 AM. Banana Island, which is Nigeria’s answer to Paris’s Seventh Arrondissement, San Diego’s La Jolla, New York City’s Tribeca and Tokyo’s Shibuya and Roppongi, is a small man-made island in the Ikoyi neighborhood of Lagos. We have a total of 265 4 Bedroom House for rent in Banana Island Ikoyi Lagos updated on 19 Jan 2021 . 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. It is located in the Lagos Lagoon and is connected to Ikoyi Island by a dedicated road which is linked to the existing road network near Parkview Estate.The island was constructed by the Lebanese-Nigerian Chagoury Group in partnership with the Federal Ministry of … 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. The estate is also a reminder of Nigeria’s broader failure. Banana Island, is an artificial island off the foreshore of Ikoyi, Lagos, Nigeria. Every Real Estate in Nigeria posted on this site is verified by real estate agents in Banana Island, Ikoyi, Lagos. We offer Nigerian property seekers an easy way to find details of property in Nigeria like homes, houses, lands, shops, office spaces and other commercial property. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without written permission from Stears Business. Be like a cook. It is here that Chidi Oke, a former resident of Victoria Island, moved to join Nigeria’s wealthiest and most prominent people on the man-made Banana shaped estate. Copyright © Stears News Limited 2021 All rights reserved. It lurks outside always, like barbarians at the gate. Aliko Dangote. Chief Adebayo Adeleke was an exceptional Nigerian visionary and philanthropist, unconcerned with the usual wealth acquisition of many of his contemporaries. Davido Hosts Stonebwoy In His Million Dollar Island Home In Nigeria – Video. For example, according to Chidi, a bad road within the estate will likely be fixed in a week or two. Announce your victories instead. Not every person in Nigeria can afford to buy a house here. It is located in the Lagos Lagoon and is connected to IkoyiIsland by a dedicated road which is linked to the existing road network near Parkview Estate. 10 Extremely Rich Nigerian Billionaires Who Live In Banana Island 1. Banana Island is an artificial isle near Lagos in Nigeria, where the most expensive houses in the whole country are situated. It is located in the Lagos Lagoon and is connected to Ikoyi Island by a dedicated road which is linked to the existing road network near Parkview Estate. Part of the Lagos Local Government Area of Eti-Osa in Central Lagos. You may not know Mr Oke, but you know his neighbours. The comfort of the estate comes at a price, one the average Nigerian would find shocking. The constant electricity in the estate is a big deal; after all, Nigeria has the second worst power supply in the world, and the rest of the country is almost always in darkness. Among these properties are houses, lands, shops, apartments, flats and commercial spaces in Banana Island, Ikoyi, Lagos. You can compare it with neighborhoods, like Tokyo`s Shibuya, La Jolla in San Diego or the Seventh Arrondissement in Paris. Victoria Island is also the home of the wealthy but offered little protection from the hustle and bustle of Lagos. The estate is also removed from the outside world; a gated community with only one major entrance. It is on par TriBeCa in New York Shibuya in Japan, La Jolla in San Diego, Carlifornia, Seveth Arrondissenent in Paris, Kessington Palace Gardens in London or Victoria Peak in Hong Kong. “Victoria Island began to look less appealing as it became more commercial. It is also a picture of Nigerian exceptionalism. Every Real Estate in Nigeria posted on this site is verified by real estate agents in Banana Island, Ikoyi, Lagos. Starchitect Yamasaki's replica twin towers comprised the flagship iconic building on the main island. Follow this Journalist on Twitter @AishaSalaudeen. Banana Island has one of the highest density of millionaires within its boundaries. One of Nigeria’s multi-billionaires, Globacom and Conoil Chairman, Mike Adenuga, the second richest man in Nigeria also lives in this estate…and it’s not a surprise that he is the biggest landowner in Nigeria’s most expensive area, Banana Island. Linda Ikeji. “Housing is quite highly priced in Banana Island, which is the way it was intended to be. The Size of Banana Island Banana Island occupies a sand-filled area of approximately 1,630,000 (1.6 million) square meters and is divided into 536 plots (of between 1000 and 4000 square meters in size). The cost of housing is a result of many factors. To complete the Lagoon City concept, Chief Adeleke planned an aesthetic design including a City Airport, which was a vision conceived long before the London Docklands Development, London City Airport, Dubai's Palm Islands or Hong Kong's Chek Lap Kok Airport. Stears Business is regulated by its editorial guidelines & policies. Several leading Nigerian and International corporates such as - Etisalat Nigeria,[8] Airtel Nigeria,[9] Ford Foundation Nigeria[10] and Olaniwun Ajayi & Co[11] - are also based on Banana Island. Ironically, when the estate is most quiet, you can still hear the hustle and bustle of Lagos as you near the exit. Marketed by . * This article has been edited to correct a figure of $4,000,000 from the previous version. Part of the Lagos Local Government Area of Eti-Osa in Central Lagos, it is known for its wealthy, multi-cultural community and has some of the most expensive real estate in Nigeria. Banana Island has a standout amongst the most essential thickness of big shots inside its breaking points. We have a total of 1,266 House for sale in Banana Island Ikoyi Lagos updated on 21 Jan 2021 . And if they could, they would detach themselves from Lagos Island and settle somewhere in the serenity of the Lagos Lagoon. No one needs to travel for miles to enjoy social amenities. Order and stability. That is thanks to an independent power plant, which directly supplies the estate with electricity. DEVELOPMENT - The Island is a man-made island and is shaped like a banana. Mike Adenuga is a Nigerian entrepreneur, investor and a business magnate. [6] At launch flats in Ocean Parade sold for over US$400,000.[7]. It is a picture of what Lagos could be, if not in the future, but in another world. Several estates in South Africa, UK etc are much more organized, and beautiful than banana Island, yet much cheaper. Banana Island is an artificial island in Lagos State, Nigeria. 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