Banana Island: All You Need to Know About One of the Most Richest Neighbourhoods in Africa

Banana Island: All You Need to Know About One of the Most Richest Neighbourhoods in Africa

  • Banana Island is an artificial offshore island in Nigeria that is largely regarded as the most luxurious neighbourhood in Africa
  • The island gets its name from the fact that the land mass on which the developments are built is shaped like a banana fruit
  • It is home to many celebrities, politicians and rich business executives of multinational companies
  • The project is made up of 536 plots on an island with a size of 1,630,000 square meters made up of mixed residential and commercial buildings

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Banana Island in Ikoyi, Lagos in Nigeria is a neighbourhood that can rival many luxurious communities in the western world. The curvy-shaped residential project serves as home to many celebrities, businessmen and politicians such as Mike Adenuga, Aliko Dangote, P-Square, Davido and Linda Ikeji among others.

Banana Island
Banana Island. Photo credit: Africa View Facts. Source: Twitter
Source: UGC

The island has several high-end residential developments and boasts of facilities such as a private health club - with tennis courts, squash courts and a swimming pool surrounded by extensive gardens. Some fun things to do on Banana Island are jogging, shopping, watching movies and sightseeing among others.

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Underground electrical infrastructure, an underground water supply network, a central sewage system and treatment plant, street lighting, and satellite telecommunications networks are all available to residents.

A plot of land in the luxurious neighbourhood typically sells between $1 million to almost $10 million. The island was specifically built to cater to the creme de la creme of society who can afford to splurge large amounts of cash on high-end real estate.

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Below is the cost of some houses on Banana Island.

Mike Adenuga's Mansion at $19 million

Mike Adenuga's mansion at Banana Island
Mike Adenuga's mansion at Banana Island. Photo credit: Source: UGC
Source: UGC

Mike Adenuga is a Nigerian billionaire businessman who owns a telecommunications company called Globacom. He is said to have the most expensive house on the island at a whopping cost upward of $19 million.

P-Square's Mansion at $3.6 million

The interior of the P-Square mansion at Banana Island
The interior of the P-Square mansion at Banana Island. Photo credit: NaijAuto. Source: UGC
Source: UGC

Famous Nigerian twin singers, Peter and Paul Okoye jointly own a property on Banana Island going for $3.6 million. They share the mansion with their families and their brother, Jude Okoye.

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Davido's Mansion at $1.5 million

Davido's mansion at Banana Island
Davido's mansion at Banana Island. Photo credit: Thewills news media. Source: UGC
Source: UGC

Nigerian Afrobeats singer, Davido, owns a $1.5 million property on the island which he acquired as a unit from a development made up of 8 luxury 5-bedroom terrace apartments.

Africa's housing crisis and high accommodation prices are not an issue for celebrated icons on the continent who seem to always be adding more to their ever-growing real estate portfolio.

88 Nairobi Condominium will be Africa's Tallest Residential Tower When Completed, it will cost $42.8 million

In an earlier article, wrote about Africa's tallest luxurious residential tower called 88 Nairobi Condominium which is set to be completed in Kenya. The building will be 176 metres high and have 44 floors, parking space for up to 518 vehicles, a restaurant, swimming pool, gym and spa facilities.


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