The estate is also a reminder of Nigeria’s broader failure. That is thanks to an independent power plant, which directly supplies the estate with electricity. 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 … 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. Among these properties are houses, lands, shops, apartments, flats and commercial spaces in Banana Island, Ikoyi, Lagos. Announcing your plans is to supply your enemies with the ammunition ... they need to shoot down those plans. 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. 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. And if they could, they would detach themselves from Lagos Island and settle somewhere in the serenity of the Lagos Lagoon. Victoria Island is also the home of the wealthy but offered little protection from the hustle and bustle of Lagos. Banana Island, is an area of Ikoyi, Lagos, Nigeria, 8.6 kilometers east of Tafawa Balewa Square and is part of the Lagos Local Government Area of Eti-Osa in Central Lagos. Sign up to get on the list. The Island is a man-made island and is shaped like a banana. Consequently the land was filled in to create a banana shaped island, hence Banana Island. Stears Business is regulated by its editorial guidelines & policies. Banana Island is different. I convince the security guards at the main gate that I have been invited and after a call to the person I am supposed to see, they let me in with the magic word of the day, “Bravo”. It lurks outside always, like barbarians at the gate. This article is about the geographic location. Follow this Journalist on Twitter @AishaSalaudeen. Copyright © Stears News Limited 2021 All rights reserved. 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. Banana Island is proof that things can work properly in Nigeria. Banana Island is a man-made island in Lagos State, Nigeria that is slightly curved in shape – like a banana. 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. Announce your victories instead. Banana Island, is an area of Ikoyi, Lagos, Nigeria, 8.6 kilometres east of Tafawa Balewa Square. The Island is a man-made island and is shaped like a banana. 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. En réalité, il s'agit d'une presqu'île et non d'une île : des terres gagnées sur les marécages entourant l'île d'Ikoyi. Chief Adebayo Adeleke was an exceptional Nigerian visionary and philanthropist, unconcerned with the usual wealth acquisition of many of his contemporaries. DEVELOPMENT - Hungry people are everywhere. You may only share READ ALSO: Business … [6] At launch flats in Ocean Parade sold for over US$400,000.[7]. For Chidi and his family, Banana Island offered something rare in Lagos. Since 1983, the 'acquisition' is currently being challenged in various courts, and there are Caveat Emptor warnings in place to warn prospective buyers that their investment could be at risk in future. Starchitect Yamasaki's replica twin towers comprised the flagship iconic building on the main island. Following a lengthy 10 year court case, Lagos State government offered other parcels of land as consideration for the Maroko development. He is the Chief Executive... 2. Marketed by . Part of the Lagos Local Government Area of Eti-Osa in Central Lagos. Ikenna Ume- Ezeoke is the Managing Director of Turquoise Construction Ltd. and has been working as a civil engineer in Banana Island for close to seven months. Some bit of the Lagos Local Government Area of Eti-Osa in Central Lagos, it is known for its well off, multi-social gathering and has without a doubt the most exorbitant land in Nigeria. Just think, property here is priced in dollars. Today at 12:01 AM. Banana Island was built to function in a country that does not function. 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. It is also a picture of Nigerian exceptionalism. The master suite has two bath tubs (a floating one and a Jacuzzi), two vanity … 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 … 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. Uniquely designed Waterfront detached house with all room ensuite 7 bedrooms, 3 living rooms , swimming pool, external lounge and play area for the children, maids quarters all on 4 floors with elevator and jetty , sitting on 600sqm land size available for sale in a close of the residential waterways of banana island Ikoyi Lagos It is a picture of what Lagos could be, if not in the future, but in another world. Davido has returned the favor and is now hosting Stonebwoy in his multi million dollar island mansion in Banana Island Nigeria. Kola Abiola. If you enjoyed this story, you'll probably love our daily emails. 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. Every Real Estate in Nigeria posted on this site is verified by real estate agents in Banana Island, Ikoyi, Lagos. reaction from the average Nigerian. banana island, Lagos, Nigeria GNEWS NIGERIA. Resting at the Northeastern corner of Ikoyi, it is as if the estate and its residents don’t want to be found. Even though I expect the question, it still feels off guard. The Island is a man-made island and is shaped like a banana. 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. The subsequent developers were principally interested in maximising the yield of the land at the expense of the aesthetic innovative design foreseen by Chief Adebayo Adeleke. Banana Island is a man-made island in Lagos State, Nigeria that is slightly curved in shape – like a banana. The estate is also removed from the outside world; a gated community with only one major entrance. * This article has been edited to correct a figure of $4,000,000 from the previous version. 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. “People are excited about it. “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. Empress Jamila Cold Store—For You Today, On Christmas and Every Other Day. Aliko Dangote is a Nigerian entrepreneur, investor and a business magnate. Copyright Stears News Limited 2021. The developers also intend to develop a main piazza, a club-house, a primary and secondary school, a fire and police station and a medical clinic. Every Real Estate in Nigeria posted on this site is verified by real estate agents in Banana Island, Ikoyi, Lagos. 10 Extremely Rich Nigerian Billionaires Who Live In Banana Island 1. 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. Aliko Dangote. by Eddie Mensa at 10:43am, Friday 15 January 2021 at 10:43am, Friday 15 January 2021. All it takes is money, planning and a vision. The comfort of the estate comes at a price, one the average Nigerian would find shocking. 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). You may not know Mr Oke, but you know his neighbours. Or, at least, a reminder of the ridiculous cost of success here. Residents are aware of this; some embrace the exclusivity, others consider it with unease. Chidi Oke says people perceive him to be lucky. Banana Island, which is a prime land goal in Nigeria, is an exceptionally upscale private neighbourhood situated in Ikoyi on the Island of Lagos. Adebayo Adeleke, creator of … For example, according to Chidi, a bad road within the estate will likely be fixed in a week or two. 25 JUN 2018. 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. Here, commercial and residential zones are distinguished. It is a zone of Ikoyi, Lagos, Nigeria, 8.6 kilometers east of Tafawa Balewa Square. As mentioned before, Chidi Oke has some wealthy and famous neighbours, and to join this exclusive club, you need to be ready to pay. You may not know Mr Oke, but you know his neighbours. 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. Iyabo Obasanjo. No one needs to travel for miles to enjoy social amenities. 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. Today we are going to tell you about … The cost of housing is a result of many factors. 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. And yet, for all its aspirations to perfections, Banana Island cannot escape its surroundings. Banana Island, is an artificial island off the foreshore of Ikoyi, Lagos, Nigeria. Banana Island is an artificial isle near Lagos in Nigeria, where the most expensive houses in the whole country are situated. He had deals with McDonalds, Disney, and others, and sunk all his money into the project. 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. 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 closest place you can get to enjoying any of these things is Aso rock, the Presidential Villa,” he opines. You can compare it with neighborhoods, like Tokyo`s Shibuya, La Jolla in San Diego or the Seventh Arrondissement in Paris. 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. 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. On the residential side of the Island, planning permission is not granted for dwellings over 3 storeys high. Among these properties are houses, lands, shops, apartments, flats and commercial spaces in Banana Island, Ikoyi, Lagos. In Nigeria, these all cost money. 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. Banana Island has one of the highest density of millionaires within its boundaries. Banana Island doit son nom à sa topographie en forme de Banane. Banana Island is an artificial island in Lagos State, Nigeria. Be like a cook. 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. “Housing is quite highly priced in Banana Island, which is the way it was intended to be. Residents enjoy luxuries such as near-constant electricity, water, and drainage. These amenities are not just available but are frequently maintained and upgraded. The Island is a planned, mixed development with dedicated areas for residential, commercial and recreational activities. The deliberate zoning, the constant security and access to power, well-maintained amenities. Nigeria Property Centre (NPC) is a leading property website in Nigeria with property listings for sale, rent and lease. At some point, there were too many clubs and businesses moving there. They say I am rich and lucky to have access to a place like Banana,” he muses. It is also a picture of Nigerian exceptionalism. 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. There is also litigation pending in the UK and European courts regarding this matter. A plot of land, for example, goes for nothing less than $1 million,” Ikenna asserts.*. [3], It occupies a sand-filled area of approximately 1,630,000 square metres and is divided into 536 plots (of between 1000 and 4000 square metres in size) mainly arranged along cul-de-sacs, so designed to enhance the historically residential nature of Ikoyi. The irony of Banana Island is its presence in a country where 62% of people live on less than $2 a day. The estate was the brainchild of the late Adebayo Adeleke, CEO of City Property Development Ltd, but was eventually constructed by the Lebanese-Nigerian Chagoury group in partnership with the Federal Ministry of Works and Housing. Banana Island has a standout amongst the most essential thickness of big shots inside its breaking points. 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. Banana Island is reputed to be Nigeria’s most expensive neighbourhood. “At the very least there’s 20 hours’ worth of electricity in Banana Island,” says Chidi on the state of power in the Estate. Among these properties are houses, lands, shops, apartments, flats and commercial spaces in Banana Island, Ikoyi, Lagos. “Banana Island has a lot of things that make it stand out from the average Nigerian estate. Stears Business content using our sharing buttons. You get this 'oh wow, you live in Banana Island?' They are also negotiating to build a 5-star hotel on the island, along with an array of smaller Guest Houses. 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, Lagos Real Estate is the most wanted area of houses in all Nigeria! We wanted somewhere more quiet and partitioned,” Chidi says. Averagely, the price of a luxury flat in Banana Island ranges between $130,000 and $200,000. 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. 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. This is excluding a service charge of $17,000. 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. Residents are provided with world class utilities including underground electrical systems (versus the overhead cabling common throughout Lagos), an underground water supply network, a central sewage system and treatment plant, and street lighting and satellite telecommunications networks.[4]. It`s the Nigerian`s most extravagant, luxurious and expensive neighborhood. 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. Even Mike Adenuga, CEO of Globacom and one of the wealthiest men in Africa. 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 … Every locality should have a park where people can relax, that should not be a luxury. Banana Island, is an artificial island off the foreshore of Ikoyi, Lagos, Nigeria. One of them is the calibre of people living in the estate. All rights reserved. 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. Order and stability. All of these things make the estate attractive and expensive,” says Ikenna on why property here is so expensive. Banana Island, is an area of Ikoyi, Lagos, Nigeria, 8.6 kilometres east of Tafawa Balewa Square. We have a total of 588 House for rent in Banana Island Ikoyi Lagos updated on 19 Jan 2021 . Cooks don’t ring bells when they are cooking. Banana Island, is an artificial island off the foreshore of Ikoyi, Lagos, Nigeria. Alhassan Dantata. The bell is rung only when the food is ready. Mike Adenuga. A few more speed bumps and I finally get what many Nigerians crave - peace, quiet and civility. There’s a substantial amount of security, independent power, good road network. “Victoria Island began to look less appealing as it became more commercial. We have a total of 1,266 House for sale in Banana Island Ikoyi Lagos updated on 21 Jan 2021 . Linda Ikeji. Davido Hosts Stonebwoy In His Million Dollar Island Home In Nigeria – Video. How consumption determines the economic impact of pandemics. Ironically, when the estate is most quiet, you can still hear the hustle and bustle of Lagos as you near the exit. Not every person in Nigeria can afford to buy a house here. Several estates in South Africa, UK etc are much more organized, and beautiful than banana Island, yet much cheaper. The residents of Banana Island may temporarily escape the dysfunction of Nigeria when they retreat to their homes, but they can never really leave it behind. All bedrooms are ensuite, fully fitted kitchen, having separate gas and electric burners respectively, wine rack, dish washer, Etc. After confirming the magic word to another security guard, he waves me through. 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. 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. Mike Adenuga is a Nigerian entrepreneur, investor and a business magnate. Banana Island is an artificial island off the foreshore of Ikoyi, Lagos, Nigeria. I navigate my way towards the second gate and some speed bumps. But the cost of Banana Island may also be because of how perfect it is compared to everywhere else. What Banana Island looks like is what every street in Nigeria should be. 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. This is Banana Island, Nigeria’s most exclusive estate, where secret passcodes are exchanged like in a bad spy movie. 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