BANANA ISLAND
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. 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. 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. So, who are the people who occupy the land? The list includes multinational corporations, well-paid expatriate employees, corrupt government officials; their concubines (or mistresses), and wealthy businessmen such as Alhassan Dantata, Kola Abiola and Nigeria’s newest billionaire, Mike Adenuga.

www.forbes.com/sites/mfonobongnsehe/2011/05/04/the-most-expensive-neighborhood-in-nigeria/

$2million for a land? Mehn, this is wow!

http://www.forbes.com/sites/mfonobongnsehe/2011/05/04/the-most-expensive-neighborhood-in-nigeria/

A friend of mine met a really cute Nigerian girl at a nightclub in Lagos recently. He’s got a certain je ne sais quoi with the ladies. So he approached her, chatted her up for about an hour or so, and was lucky enough to walk away with her phone number and her house address. She asked him to visit her sometime. He promised he would, but he never did.

The reason is this: The lady lives in Banana Island, Nigeria’s most expensive residential area. There are only a few privileged men who can afford to date a girl who lives in Banana Island. My friend is not yet a part of the privileged few.

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.

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. . .

http://www.forbes.com/sites/mfonobongnsehe/2011/05/04/the-most-expensive-neighborhood-in-nigeria/


   While i acknowledge the fact that the Island could be skyrocketing expensive, I really don't believe the story (in the article) about the "friend" chatting up a cute girl from the Island and eventually abandoning the pursuit because the girl happened to be from the expensive neighbourhood because, i know that most guys would be glad to have such pretty (and rich girls) for themselves: so, i don't accept that a person would run away from a girl because she's rich. Period

Interesting! No wonder a Nigerian visa is extremely difficult to get. Too much oil money flying around.

Vicjustice:

http://www.forbes.com/sites/mfonobongnsehe/2011/05/04/the-most-expensive-neighborhood-in-nigeria/http://www.forbes.com/sites/mfonobongnsehe/2011/05/04/the-most-expensive-neighborhood-in-nigeria/


   While i acknowledge the fact that the Island could be skyrocketing expensive, I really don't believe the story (in the article) about the "friend" chatting up a cute girl from the Island and eventually abandoning the pursuit because the girl happened to be from the expensive neighbourhood because, i know that most guys would be glad to have such pretty (and rich girls) for themselves: so, i don't accept that a person would run away from a girl because she's rich. Period

Same here. That must be an imaginary friend. How can you hit a jackpot and you say you don't want to claim the prize.

eH?

mbatuku1:

Interesting! No wonder a Nigerian visa is extremely difficult to get. Too much oil money flying around.

funny

Really a nice neighbourhood

i think is over priced cos it doesn't look any different to me from some executive apartment in night bridge in London at list you get security and steady light and water and well equip medical care thank you

Have been there several times. i had a job i was doing there, doing pavestones for one very wealthy american dude. i think the dude is a surgeon in US and has hes own practice. believe me guys i was blown of my socks when i entered Banana island. if you get a plot of land there for 200 million naira, pls count yourself lucky.

Banana Island, a very expensive "slum in the making".

Sure it has good looking buildings and exclusivity, but the roads are very bad, the sewage system is poor and the gutters flood easily. There are limited entry and exit points and it is truly only accessible by a 4 x 4.

Naija na wah oh!!!

RICHIE BOI:

Have been there several times. i had a job i was doing there, doing pavestones for one very wealthy american dude. i think the dude is a surgeon in US and has hes own practice. believe me guys i was blown of my socks when i entered Banana island. if you get a plot of land there for 200 million naira, pls count yourself lucky.

Please next time you out there take some pics, I'm seriously thinking of buying property out there.

Gosh! really need to see this place! pics abeg!

i have been thinking that its lekki!

only thieves can live there. aah wastage.

Make Boko Haram hear about them,

That will be true if only there are is no more land for sale in Asokoro.

During the last flood in Lagos, the flooding there was worse than other parts of Lagos. B4 d flood drained, it took a week.
Expensive slum.

2 fcukin mill dollz,sb pls got me a BUGATTI VEYRON

Well, I hope they are keeping an eye on the rising level of the Atlantic.

What an imagination

I have been there to b4, that place is wow, its not too far from ikoyi,

blinks

That Neighborhood is the Bomb, especially after the Etisalat building. Nigerians have money oooo

Girl trying to intimidate guy

Girl:  I own an apartment on the Banana Island in Lagos
Boy:  Oh! that!. . .well, I own a house on Kensington Palace, London.

In boy's mind: yo cheap árse is owned

I don't think you guys have been there , saying it's flooded and the drainage is bad , maybe you guys went to cashew island. Banana island has very good drainage and water does not percolate there. I'll agree if you say the road leading to the island gate is not properly drained and is usually flooded but from the gate ( even before the gate , starting from Rebecca court/Parkview's second gate ) it is always dry.

the place is more expensive than even beverly hills . sorry i'll pass.

Yh, cool place but nothing really special,come check me up in that dry place, most of my peeps are abroad,their parents hardly even dwell in these houses and yet bills are paid for in absentia. You see evn some wanna-be(s) struggling to erect a structure too. It takes multi-billionaires to own a crib there,not mere billionaires. You hardly even know your neighbours And as for meeting ladies,hmmm, well,that hardly ever happens cos everyone cruises around in their posh cars in a snobbish manner. Next is Park View.

Excelboi:

BANANA ISLAND
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. 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. 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. So, who are the people who occupy the land? The list includes multinational corporations, well-paid expatriate employees, corrupt government officials; their concubines (or mistresses), and wealthy businessmen such as Alhassan Dantata, Kola Abiola and Nigeria’s newest billionaire, Mike Adenuga.

www.forbes.com/sites/mfonobongnsehe/2011/05/04/the-most-expensive-neighborhood-in-nigeria/

If this banana island is better than beverly hills then i will move back to naija, but houses doesnt represent how beautiful the neighborhood is, the scenery, the space the type of responsible people and moreover, the way the infrastucture is planned represents how good and beautiful a place is.

they can keep it. Would rather carry my money to old ikoyi, buy some house, bring it down and the rebuild and still carry my balance and buy a house in a diff country.