This set of showbiz stars aren’t just big, they are stingingly rich. They are few in number, but their mansions will definitely stun anyone seeing them for the first time. As we all know, Banana Island in Ikoyi, Lagos is a billionaires’ paradise. It’s an exclusive housing estate for the rich and influential people in Nigeria. It’s also one of the most expensive, if not the most expensive estate in Lagos. Ask anybody around, they will tell you how big and influential the people who live in the estate are.
Banana Island is an artificial island off the foreshore of Ikoyi, Lagos, Nigeria. The name was derived from the curvature of its shape. The island is a planned, mixed residential, commercial and recreational buildings development. If you aren’t super-rich, you may not be able to afford a house in the estate because most of the houses are sold in dollars and it starts from six figures.
According to City People’s findings, you must have at least, 8 million naira to rent decent accommodation on Banana Island.
Real estate prices in Banana Island are based on the value of the land, which, according to many experts, is worth NGN575,000 (US$1,101 per), square meter. Let’s also tell you that, within the Banana Island a plot of land is close to N2 billion per plot or above, depending on the exact location in the axis.
Let’s not bore you with much analysis. This week, we shall reveal some super-rich showbiz stars who live with other billionaires in the most prestigious estate called Banana Island in Ikoyi, Lagos.
The first name on our list is a popular hip hop singer, David Adeleke, popularly called Davido.
Davido recently acquired a property on Banana Island, Lagos. He purchased one of the units in the Giuliano de Medici, a building designed by Sujimoto Constructions, which has 8 luxury 5-bedroom terrace apartments, each apartment costing as much as $1.5 million in naira will equal to about N1.6 billion, using the official exchange rate.
We can tell you authoritatively that’s where he now lives with some members of his crew.
E-Money is next on the list. The mansion is not just heaven on earth, it’s a multi-million mansion owned by Nigerian billionaire, E-money.
His real name is Emeka Okonkwo, he has accumulated huge wealth in his investment, entrepreneurship and industrial cycle. He is the Chief Executive Officer (CEO) of Five Star Music. His luxury lifestyle has been sending warm feelings to the hearts of millions of people living near and far away from him. He is a man of taste and style. He is in his 40s and currently the immediate younger brother to Nigeria Music star, Kcee.
This mansion is located on Banana Island, Ikoyi, Lagos and has all the best features one can think of. The house has a swimming pool, a penthouse, a sports facility, and other exotic edifices. The house is worth over N1 billion and has exotic cars of different brands and models parked inside the compound.
Do you know that Linda Ikeji also has a number of investments in real estate in addition to her legendary Banana Island mansion which is located in Lagos? She had purchased the house for N500 million in 2016.
Linda Ikeji’s Banana Island mansion is estimated to be worth about N2 billion.
The house is a 6-bedrooms mansion with ensuite bathrooms for all residing on 3 floors, or 2-storeys. The master suite is provided with a walk-in closet and dressing room. It also has a media room, 2 living rooms, a movie room, a laundry room, a gym, and, of course, a full kitchen and pantry. Outside there is a gatehouse, two-room boys-quarters, swimming pool, changing room, waterfall wall, amazing water-view, and a cabana.
Another celebrity who jointly owns a mansion on Banana Island is the PSquare brothers. The mansion is also worth about N1.5 billion.
According to Private Property Nigeria, the house is estimated to be worth about N1.5 billion. The house is located on Banana Island, an Island in Lagos that is famous for being one of Nigeria’s most affluent neighbourhoods. It’s a big mansion with many bedrooms. From the look of it, it’s one of its kind where the mansion is situated.
Toke Makinwa is another name on the list. Though, there was a rumour the house is no longer hers. Let’s tell you more about it. On July 2, AMCON said it had seized assets belonging to Festus Fadeyi and the Pan Ocean Group. It said that they were owing over N240 billion debt.
Later when the reports had surfaced on social media platforms, it was clear that Makinwa’s luxury apartment on Banana Island was seized and that the property was said to have been listed among Fadeyi’s assets as a gift to her. But in a statement issued through Andrea Giaccaglia, Makinwa’s publicist, the radio presenter denied the rumour of the seized mansion on Banana Island.
Let us tell you a bit about the history behind Banana Island. According to an Online report, the original Banana Island construction project entitled Lagoon City was the brainchild of the late Chief Adebayo Adeleke, a University of London trained Civil Engineer (MICE), and CEO of City Property Development Ltd.
Adeleke had originally commissioned a new urban development in Maroko, Victoria Island, but that project had been acquired by the Lagos State government. Following a lengthy 10-year court case, the Lagos State government offered other parcels of land as consideration for the Maroko development.
Many scoffed at Chief Adeleke’s decision to select the Ikoyi Island perimeter, however, they were unable to appreciate the foresight of the Chief, who promptly engaged the Westminster Dredging Company to dredge the foreshore, and create six interlinked and symmetrical islands.
He wanted to create a development that would “Make Nigeria Proud”, and engaged Minoru Yamasaki the architect of Manhattan’s World Trade Centre ‘Twin Towers’ building. Starchitect Yamasaki’s replica twin towers comprised the flagship iconic building on the main island.
To complete the Lagoon City Concept, Chief Adeleke planned an aesthetic design including a City Airport, which was a vision conceived long before the London Docklands Development, London City Airport, Dubai’s Palm Islands or Hong Kong’s Chek Lap Kok Airport.
As soon as he had reclaimed the land and the idea was unveiled, others attempted to wrestle the land from him, and the project was ‘acquired’ again with no consideration being paid to City Property Development Limited. Since 1983, the ‘acquisition’ is currently being challenged in various courts, and there are Caveat Emptor warnings in place to warn prospective buyers that their investment could be at risk in future. There is also litigation pending in the UK and European courts regarding this matter.
The subsequent developers were principally interested in maximising the yield of the land at the expense of the aesthetic innovative design foreseen by Chief Adebayo Adeleke. Consequently, the land was filled in to create a banana-shaped island, hence Banana Island. Banana Island, is an area of Ikoyi, Lagos, Nigeria, 8.6 kilometres east of Tafawa Balewa Square. Part of the Lagos Local Government Area of Eti-Osa in Central Lagos.