The ELITES writes on the lure that attracts the rush for
Banana
Island among the elites within the Nigerian society.
Anyone
who can afford the good things of life will find living in
Banana Island a
foretaste of what paradise looks like. It is a
statement in opulent living and
lifestyle.
Little wonder this island has become the most prefered
abode of
the rich. Many years ago,
Banana Island distinguished itself as a
no go area for the middle class,
leaving the rest of Lagos such as
Ikeja GRA, Victoria Island and Lekki for the
average millionaires
in Lagos. A first time visitor to this island is greeted
by the sight of
well laid lawns with beautiful flowers and well paved roads.
The
quietude and untainted environment is a major attraction as well.
Beautiful
trees are also planted in canopy form to serve as
umbrella and to supply fresh
air.
Banana Island is
an artificial island in Ikoyi, Lagos State. 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. It was constructed by HiTech, the
construction arm of the Chagoury Group and is a joint venture with the Nigerian
Federal Ministry of Works and Housing. The banana shaped island is approximately
1,630,000 square meters in size and it has been zoned into 536 plots consisting
of 100 closes, which serve to enhance the banana shape of the island. The
island is so designed to enhance the historically residential nature of Ikoyi.
Residents are provided world class utilities including underground electrical
systems, as against the overhead. Plot sizes range from 1000 square metres to
4000 square metres. The island is designed for a mixed development with plots
for residential, commercial, recreational
areas, a main piazza, primary and
secondary schools, fire and police stations, clinics, hotels and club-houses.
Utilities offered include underground electrical systems, an underground water
supply network, central sewage system and treatment plant, street lighting and
satellite telecommunications networks, as well as overhead and storm water
covered drainage.
Banana Island is not just home to some
of the finest Nigeria real estate, it also habours some of the most expensive
properties in Nigeria. Indeed, beauty and comfort come at a price. And that
price can be jaw-dropping. One of the most outstanding features of the island
is the Ocean Parade Towers rising into the sky at eight floors with a
penthouse. The facilities include central air conditioning, central gas syetem,
laundry machine, refrigerator, gas cooker, CCTV, swimming pool, and 24 hour
electrivcity supply, made possible with standby generators, a squash court, and
a 24 hour security.
Banana Island is reputed to be Nigeria’s most
expensive
neighbourhood. 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. Averagely, the price of a luxury flat in Banana Island
ranges between
$130,000 and $200,000. This excludes $15,000
USD service charge per annum.
Also, any potential tenant will be
required to pay two years rent in advance.
And like other luxury
apartments in other areas in Ikoyi, Victoria Island and
Lekki, come
with in-built or detached boys quarters for domestic servants.
Normally, a plot of land in
Banana Island goes for hundreds of millions. However, in most cases, billions
of naira go into the erection of these buildings. Many Multi-National Companies
have taken Banana Island to be their regional headquarters. Etisalat was
reported to have acquired a N6 billion on the island. Other companies such as
Zain, MTN, Globacom, Zenon Oil, and many other companies have their headquarter
offices in Banana Island. Many prominent Nigerians are known to have erected
eye-popping edifices in Banana Island as well. 
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