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 Attention of these buildings. Many Multi-National Companies have taken Banana Island to be their regional headquarters.
Banana Island is a man-made island in Lagos State, Nigeria that is slightly curved in shape – like a banana. It is located in the Lagos Lagoon and is connected to Ikoyi Island by a dedicated road which is linked to the existing road network near Parkview Estate. The island was constructed by the Lebanese-Nigerian Chagoury Group in partnership with the Federal Ministry of Works and Housing and is considered to be on par with the Seventh Arrondissement in Paris, La Jolla in San Diego, and Tokyo’s Shibuya and Roppongi neighbourhoods.
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