Tuesday 19 January 2016

The most expensive neighbourhood in Nigeria

                                     Aerial view of Banana Island

Banana Island is a man-made banana-shaped island in Ikoyi, Lagos State, Nigeria. It sits on a sand-filled area of approximately 1,630,000 square metres, divided into about 535 plots ranging in size from 1,000 square meters to 4,000 square meters mainly arranged along cul-de-sacs. This exclusive Island is home to the extremely wealthy in the society. It is considered to be comparable to the Seventh Arrondissement in Paris, La Jolla in San Diego, and Tokyo’s Shibuya neighbourhood.

                                      Bella Vista Towers
Residents are provided with world class utilities including underground electrical systems, an underground water supply network, a central sewage system and treatment plant, and street lighting, satellite telecommunications networks and tight security. The Island is a planned, mixed use development with dedicated areas for residential, commercial and recreational activities. Leisure facilities include a private health club - with tennis courts, squash courts and a swimming pool surrounded by extensive gardens. There are high-rise luxury residential apartment buildings one of which being the Ocean Parade Tower facing the Lagoon.
There are many grandiose mansions belonging to obscenely wealthy individuals including a number of billionaires in this exclusive waterfront enclave. The cost of a plot of land measuring 1,000 square metres costs in excess of ₦ 250,000,000 and rental prices range from ₦15,000,000 to ₦45,000,000 per annum and in some cases, higher. This desirable island is home only to a few prominent ultra-wealthy individuals in Nigeria.

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