Without doubts, there is one place that satisfies even the most lavish tastes when it comes to living, and this is no other place than the man-made banana shaped island in Lagos state; Banana Island.
Banana Island is Nigeria’s most extravagant and expensive neighborhood considered to be at par with the Seventh Arrondissement in Paris, La Jolla in San Diego, California and Tokyo’s Shibuya or Roppongi neighborhoods.
This magnificent artificial island built on reclaimed land in Ikoyi is a place of unrivalled opulence and grandeur. 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.
Banana Island, Nigeria’s most expensive residential area is actually sitting on 1,630,000 square meters and is divided into 536 plots ranging in size from 1,000 square meters to 4,000 square meters.
It is a planned, mixed development with dedicated areas for residential, commercial and recreational activities. Though, on the residential side of the island, planning permission is not granted for dwellings over 3 storeys high. The Island hosts several high ends residential developments such as Bella Vista and Ocean Parade Towers, 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.
The sumptuous island is an entirely different world from other parts of the country. It’s a gated community, known for its wealth and splendour. Its inhabitants enjoy world-class utilities including an underground water supply network and electrical systems, 24 hour-electricity supply, good road layout, extremely tight security, a central sewage system and treatment plant as well as street lighting and satellite telecommunications. No wonder, it is widely occupied by the high and mighty such as well-paid expatriate employees, multinational corporations, government officials, wealthy businessmen amongst others.
Banana Island is a major contributor to the various surveys that says Lagos is one of the most expensive cities in the world and this is evident in the fact that landed property is even more expensive here than in some other parts of the developed world such as the United Kingdom and South Africa. It is not only the luxury flats that attract such staggering prices, even virgin lands being offered for sale by developers are very expensive.
Indeed, it is for the big players who have more than enough money to afford the luxury of life it offers