There's no doubt that Banana Island located in Lagos is a billionaire's paradise. Just like Seventh Arrondissement in Paris and Tribeca in New York City, Banana Island is a small man-made island in the Ikoyi neighborhood of Lagos.
Banana Island is like a piece of heaven in the middle of noisy Lagos that offers easier access to the mainland. It is populated mostly by the richest and most well-known families. Notable residents such as Mike Adenuga, Iyabo Obasanjo, Sayyu Dantata, Jim Cooper, David Adeleke, and Kola Abiola reside here. The Island also draws a variety of notable people from the United States, Britain, Lebanon, India, and France.
Residents enjoy luxuries such as constant electricity, water, and drainage. Properties on this Island are 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, you can rent the same apartment for about $150,000 per annum. A typical plot of land on the Island usually goes for between$4 million and $6 million.
Banana Island is slightly curved in banana shape and was constructed by the Lebanese-Nigerian Chagoury Group in partnership with the Federal Ministry of Works and Housing. It occupies a sand-filled area of approximately 1,630,000 squares meters and is divided into 536 plots.
Banana Island is proof that things can work well. All it takes is money, planning, and a vision. The Island's exclusivity will always remain attractive to the highest echelon of society.
It is a place of unrivaled opulence and grandeur. It is an entirely different world from other parts of the country.
Source: Wikipedia and Pinterest.
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