The Most Expensive Homes, Neighborhood In Nigeria Is Banana Island – Forbes

[1] 2 3 4 5
at 12:28 PM, 17 Jun 13 (4 years ago)
(10074 | Hero) (m)
«§» 17 June 2013

Recently, a guy met a really cute Nigerian girl at a nightclub in Lagos. 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.

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.

yinkaolu_1 at 12:47 PM, 17 Jun 13 (4 years ago)
(2723 | Gistmaniac) (m)
on par with the Seventh Arrondissement in Paris,  La Jolla in San Diego, California and Tokyo’s Shibuya or Roppongi neighborhoods...with all those bushes? Roll Eyes Roll Eyes
Reply
winace at 01:29 PM, 17 Jun 13 (4 years ago)
(30675 | Addicted Hero) (f)
Pls tell me why people will not carry drugs, rob, fraud, kidnap and 419 jt to live or get money cus of dis kind of place. Hmmmmmmmm
Reply
micc at 01:39 PM, 17 Jun 13 (4 years ago)
(9729 | Hero) (m)
I hear
Reply
ebiteck at 02:43 PM, 17 Jun 13 (4 years ago)
(2827 | Gistmaniac) (m)
wetin man go do na? make we just read pass
Reply
paulohking at 02:44 PM, 17 Jun 13 (4 years ago)
(12355 | Hero) (m)
 Cheesy Cheesy Cheesy wow, magnificient
Reply
sonjohn994 at 02:48 PM, 17 Jun 13 (4 years ago)
(1829 | Gistmaniac) (m)
 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Cry Cry Cry Cry Cry
Reply
allenolufade at 03:07 PM, 17 Jun 13 (4 years ago)
(18 | Newbie) (m)
ThESE LUXURY IS FOR PPLE WIT ENoF M.I.B(MONEY IN D BANK) DAMN!!!
Reply
Bettygirls at 03:13 PM, 17 Jun 13 (4 years ago)
(4070 | Gistmaniac) (f)
wow
Reply
bluetooth30 at 03:18 PM, 17 Jun 13 (4 years ago)
(6 | Newbie) (m)
abeg person fit leave for the uncompleted buildings if yes @ wat price
Reply
sucre4u at 03:20 PM, 17 Jun 13 (4 years ago)
(3027 | Gistmaniac) (m)
Cant just stop lookin at d building
Reply
chicco77 at 04:22 PM, 17 Jun 13 (4 years ago)
(22622 | Addicted Hero) (f)
 Cheesy Cheesy
Reply
ezchusa at 04:24 PM, 17 Jun 13 (4 years ago)
(3744 | Gistmaniac) (m)
ok

Reply
sheikt at 04:26 PM, 17 Jun 13 (4 years ago)
(204 | Upcoming) (m)
even in europe here, like marbella in spain is the most expensive costa in europe, there is never been sold a plot of land for 2m dollar, thats too phyuking expensive and over value.
Reply
proly at 04:40 PM, 17 Jun 13 (4 years ago)
(13963 | Hero) (f)
wow d place make sense
Reply
dickman2 at 04:43 PM, 17 Jun 13 (4 years ago)
(34713 | Addicted Hero) (m)
 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Reply
sexygentle at 04:48 PM, 17 Jun 13 (4 years ago)
(21 | Newbie) (m)
Quote from: bluetooth30 on 03:18 PM, 17 Jun 13
abeg person fit leave for the uncompleted buildings if yes @ wat price
.This comment put a smile on my face @blueprint it is not ur portion to leave on uncompleted  building,Amen
Reply
dickman2 at 05:21 PM, 17 Jun 13 (4 years ago)
(34713 | Addicted Hero) (m)
 Huh? Huh? Huh? Huh? Roll Eyes Roll Eyes
Reply
steveoneal at 05:52 PM, 17 Jun 13 (4 years ago)
(3174 | Gistmaniac) (m)
Quote from: sheikt on 04:26 PM, 17 Jun 13
even in europe here, like marbella in spain is the most expensive costa in europe, there is never been sold a plot of land for 2m dollar, thats too phyuking expensive and over value.
you dey answer them, all of them no be thieves?Huh? mallorca, monaco,and some  of part of swiss, where all rich men  for europe dey run go, dem no sell plot of land reach 2 million dollars,, no problem, i pray God keep giving you all the stength to loot the treasury ,, so that all of you will have the money the build, buy plots of land and build houses there,, , so that all of una go gather for one place when the time reach, the stress no go too much,,,,
Reply
etibaba at 05:54 PM, 17 Jun 13 (4 years ago)
(4165 | Gistmaniac) (m)
Story.

Reply
[1] 2 3 4 5

LATEST COMMENTS

  1. bensow on: Nigerian Senator, James Ebiowou Spotted On Bike In His Hometown Due To Bad Road (See Reactions)
    [quote author=BournIdentity link=topic=346705.msg5366723#msg5366723 date=1508836039]@bensow, u don c... 6 mins ago ago
  2. BournIdentity on: "I Crawled Like A Snake To Escape Death In The Hands Of Fulani Herdsmen" Bishop Ojo Narrates Ord
    But why? Thou shall not fear no dey your Bible ni?... 8 mins ago ago
  3. BournIdentity on: WTF! Tonto Dikeh Already Suing Bloggers For a Video Of Her Violence that Is Yet To Be Posted
    freethinker shut up.., if we wanted that your monkey brained opinion, some random human would have r... 11 mins ago ago
  4. BournIdentity on: DJ Khaled Buys Son Asahd, A N36 Million Diamond-Encrusted Watch for His 1st Birthday (Photo)
    NobsmallTin,,,.,,,, living the money life..,, BT be careful... 14 mins ago ago
  5. BournIdentity on: Court Orders Ex-President,Goodluck Jonathan To Appear In Court On Wednesday Over Olisa Metuh's T
    Good..,,,, till den.... Make I just dey observe... 19 mins ago ago

October Leaders

BournIdentity(1457) - ruthie(888) - kixme(821) - kacylee(357) - gogoman(344) - fineboy77(294) - bayonel3(291) - felicilin(214) - clarajancita(171) - james987(163) - itumopapa(133) - proly(126) - bohlah(120) - Wazubia(118) - officynero(105) - benosky4(95) - victorstic1(93) - Mykie010(92) - Otikadinje(88) - osarobo62(83) -