There are 409 houses for sale and rent in Banana Island. Every listing is posted by an estate agent or developer you can contact directly — filter by price, type, furnishing and recency to find the right home.
Magnificent Luxurious Designed Waterfront 6 Bedroom Detached House
This home offers uninterrupted panoramic ocean-views from every level. Designed for elevated living, this residence features soaring beamed ceilings, expansive windows, multiple living areas, expansive terraces and full smart-home automation. Every detail has been thoughtfully curated to exceed even the most discerning expectations. Welcome home to sophistication, elegance and unparalleled comfort. Description: Magnificent Luxurious Designed Waterfront 6 Bedroom Detached House with Swimming Pool and 2 Rooms Staff Quarters For Sale. Features: - Waterfront Property - Private Swimming Pool - 24hours power supply (located inside a fully serviced mini-estate) - Elevator - In-built speakers connected to all parts of the house - Large anteroom on the ground floor - Chef Gourmet Kitchen with pantry - Designated Dinning room - Cctv camera - Massive living room and bedrooms - Family lounge - Living room, Dinning room, and master's bedroom overlooking the water. - Large balconies - Walk-in Closets - An extra room which can serve as a gym or cinema room - A study room - All rooms en-suite - 2 rooms staff quarters - Private compound with ample parking space - High ceilings and Large windows which allows for great lightings - Located inside a Highbrow Estate with state of the art security, e.t.c. Price Listing: $5 Million Location: Banana Island Estate For Inspection Bookings, kindly Contact Aruofeg Enterprise: 08074577210 or 08057989376
Banana Island, Ikoyi, Lagos
6 Beds
6 Baths
7 Toilets
Aruofeg Enterprise
Premium
17
₦1,750,000,000
House for sale
4 Bedroom Maisonette with Pool, Gym, Elevator & BQ
4 Bedroom Maisonette duplexes with roof top terrace,elevator,gym,pool and a bq For Sale Location:IKOYI Price: 1.750B Features Brand New.Spacious Living Rooms.Gym.Ensuite Rooms. Inbuilt Speakers. 24 Hours Security. Treated Water. CCTV Cameras. Washing machines.Refigerator. Top Quality Tiles. Adequate Parking Space. Tight Security. Serene & Secured Environment. Gated Estate.
Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
Koldej Homes
Premium
1
₦80,000,000/yr
Terraced duplex for rent
5 Bedrooms Terraced Duplex + BQ, Swimming Pool, Gym
For Rent SlvKel 5 Bedrooms Terraced Duplex -- Banana Island, Ikoyi a well-finished 5-bedroom terrace apartment in one of Lagos's most exclusive and secure neighborhoods. Designed for convenient luxury living, this home offers premium facilities and the refined lifestyle Banana Island is known for. Property Features - 5 Bedrooms (all en-suite) - Swimming Pool - Fully Fitted Kitchen - Boys' Quarters (BQ) - Secure and Private Environment Rent; ₦80,000,000 per annum Service charge: ₦6 million deposit including diesel Agency: 10% Legal: 10% Caution: 5%
Banana Island, Ikoyi, Lagos
5 Beds
5 Baths
6 Toilets
4 Parking
360 Degree Properties LTD
Premium
10
₦70,000,000/yr
Terraced duplex for rent
Brand New Luxury 4 Bedroom Terrace Duplex + BQ, Pool & Gym
For lease on banana island road SlvGabkel Luxury 4-Bedroom Terraces with a room bq each. Comes with swimming pool, gym, waterfront and non-waterfront. Terraces: ₦70 million per annum Service Charge: ₦6 million deposit Power Deposit: ₦4.5 million Caution: 5%
Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
3 Parking
360 Degree Properties LTD
Premium
12
₦60,000,000/yr
House for rent
4 Bedroom Terrace
Available for rent Banana Island, Ikoyi Units of 4-bedroom luxury terrace on 3-level with a garage within a mini estate Features: - All en-suite, fitted with split unit air conditioners - Fitted kitchen with modern appliances - Garage - Gated community on large grounds with well-manicured lawns overlooking the 5-cowrie creek - Good environment for families with kids - Children's play area - Gym and swimming pool with lagoon view - Ample car park space
Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
2 Parking
Isi-Jayne Luxury Property
Premium
14
₦75,000,000
Semi-detached duplex for rent
Spacious 4 Bedroom Semidetached Duplex with BQ & Pool
For rent 4 bedroom semidetached duplex with BQ Location: Banana Island Road Ikoyi, Lagos Rent: 75m Legal: 10% Agency: 10% Caution: 10% Service charge: 3m ------------------------------------------------------------ Features - Fully Fitted Kitchen - pop Ceilings - Water Treatment - 24/7 Security - Fully serviced - Gym - Relaxation area - Water heater - Inbuilt speakers - Walk-in Shower - Swimming pool - Bq - 24hrs power Etc
Banana Island Road, Banana Island, Ikoyi, Lagos
5 Beds
5 Baths
6 Toilets
Koldej Homes
Premium
25
$2,500,000
Terraced duplex for sale
5-Bedroom Terraced Duplex
Banana Island. $2.5 Million. A Terrace With Its Own Gate. Its Own Compound. Its Own Rooftop. A Jetty at the Water's Edge. C of O. Elevator. 2-Room BQ. The Most Accessible Price Point on the Island. The problem Banana Island has two categories of buyer conversation. The first is the one most people assume happens at this address --- the buyer with unlimited capital and no constraints. The fully detached compound. Four walls to themselves. The price that reflects the fullest possible claim on the island's address. The second is the conversation that actually happens for the majority of serious principals who want this island, this controlled access, this resident profile, this lagoon context --- and who are making a deliberate and rational choice about which specific product type gives them the address they want at the price their capital is structured for. This listing is for the second conversation. $2,500,000. Banana Island Estate. A terraced duplex --- five bedrooms, six bathrooms, seven toilets, an elevator, a rooftop, a 2-room BQ, a self-compound with a gate, parking for four cars, and access to a common swimming pool and a jetty at the island's water edge. One shared wall with one neighbour. Everything else --- the compound, the gate, the parking, the rooftop, the BQ, the elevator, the 2 living rooms --- is private, configured, and yours. The question is not whether Banana Island is the right address. The question is whether this is the right product at the right price point to make the decision today. The agitation Here is what the Banana Island deliberation costs the principal who has been circling this address without committing. Every comparable that has sold on this island in the past 24 months has sold at a higher number than the one before it. The island is finite. The supply is constrained. The resident profile --- the families, the diplomats, the multinational heads, the intergenerational wealth --- does not leave frequently and does not sell at discounts. The island's track record of absorbing naira devaluations, inflation cycles, and political uncertainty without sustained price correction is not speculative. It is documented. The NPC comparables visible today frame the position clearly: A 5-bedroom fully detached duplex in Old Ikoyi --- ₦2.3B (approximately $1.67M). Not on Banana Island. A 5-bedroom Ikoyi mansion --- ₦3.5B (approximately $2.54M). Not on Banana Island. This listing --- 5-bedroom terraced duplex, Banana Island Estate, C of O, jetty, elevator, rooftop --- $2.5M. The Banana Island premium over Old Ikoyi is the controlled access bridge, the island's managed resident environment, the lagoon adjacency, the jetty, and the specific social and security infrastructure that no mainland or non-island Ikoyi address can replicate. That premium is in this price. Every month the principal defers this decision on Banana Island, the market reflects the scarcity that the island's finite land and constrained supply consistently produce. The $2.5M terraced entry is the island's most accessible current price point. It is today. The solution a 5-bedroom terraced duplex in Banana Island Estate, Banana Island, Ikoyi. Self compound. Private gate. Rooftop space. Elevator. 2-room BQ. 2 living rooms. Parking for 4 cars. Common swimming pool and jetty. Certificate of Occupancy. 24/7 power. Full security infrastructure. $2,500,000. Here is what each element delivers --- and what sets this unit apart from both the island's fully detached options and every comparable property priced below this listing: Banana Island Estate --- the island that needs no introduction. Controlled vehicle access at the bridge. A managed residential environment. A resident profile that has defined the upper tier of Lagos's professional, diplomatic, and corporate life for over two decades. The NPC area guide describes it correctly: exclusive, prestigious, with the specific combination of planned infrastructure and curated community that no other Lagos address has replicated. Saying your address is Banana Island requires no further explanation --- in Lagos, in Abuja, or in any international city where the people who live here also have addresses. A terraced duplex with a self compound and a private gate. This is the distinction that separates this unit from a standard apartment building. The compound is self-contained. The gate is private. Your vehicle enters through your own gate, parks in your own compound, and the perimeter of your immediate environment is yours to manage. The one shared wall --- the wall between this terrace and the adjacent unit --- is the only point of physical adjacency with any neighbouring property. Everything else in the land parcel is your compound. That is the terraced duplex configuration that makes a $2.5M price point possible on Banana Island while delivering the private compound experience that the island's fully detached options offer at higher prices. A rooftop space. Accessed from the top floor of the terrace. Private, open, elevated above the Banana Island Estate environment. The specific use of this space is the occupant's to define --- an outdoor lounge, a garden, an entertainment platform, a quiet private elevation with the island's residential landscape and the Lagos lagoon visible in every direction. A rooftop above a private compound on Banana Island, at any price, is an architectural feature that most island properties at any price tier do not offer. An elevator. The building handles vertical movement across all floors. Groceries, luggage, your briefcase after a long day, an elderly parent --- the elevator manages it. In a multi-floor terrace, an elevator converts the building from one that requires stair management to one that simply responds. A jetty. This is the feature that has not appeared in any previous listing across this fifty-two-entry portfolio --- and it is specific to the Banana Island context in a way that no other address in Lagos can replicate. A jetty means water access. The ability to arrive at the property by boat. The lagoon that surrounds Banana Island is accessible from this residence at the jetty level. For the resident who uses water transportation --- speed boats, water taxis, the leisure boats that operate in Lagos's lagoon --- the jetty is a functional daily access point, not a scenic feature. For the social host whose guests arrive from the mainland via water, the jetty is the reception point. On Banana Island, a jetty is the architecture of a life that fully uses the island's primary geographic advantage. A common swimming pool. Shared within the estate's community rather than private to this unit --- which is the corresponding arrangement for the terrace configuration versus a fully detached compound. The pool is available to residents. On Banana Island, where the island itself is managed at community level, a common pool within a well-secured, curated residential estate is a different experience from a shared pool in a standard Lagos apartment building. The environment that surrounds the pool is the estate. The residents who share it are the island's residential community. 2 living rooms. Ground floor social space for receiving guests and hosting at scale. Upper floor family lounge for the private, at-ease version of the household's social life. The separation between public and private social space --- a recurring differentiator throughout this series --- is built into the floor plan here. Both living rooms exist because the developer understood that a 5-bedroom Banana Island home operates at two different social registers simultaneously. 5 bedrooms. 6 bathrooms. 7 toilets. All rooms en-suite. 2-room BQ. Every occupant in this household wakes up to a private bathroom. The 2-room BQ means two dedicated domestic staff quarters --- the household operates with properly configured domestic infrastructure, not compromised arrangements. Seven toilets across the building mean no common area access to bedroom floors for guests. Fitted kitchen. Air conditioning. Pop ceilings. Built-in wardrobes. Tiled floors. Water heater. Guest toilet. The interior finish is complete. Move in. Nothing requires commissioning or sourcing. The property is configured. 24/7 power supply --- standby generator, prepaid meter, borehole, treated water, high-speed internet. Power is continuous and managed. Water is treated and stored. Internet is confirmed. The utilities are operational. Security --- layered and Banana Island-level comprehensive. Security gate. Perimeter fencing. Electric fence. Burglar proof. CCTV. Security gateman. The building's security layers sit within the island's own controlled access security. The bridge is the island's first perimeter. The estate's perimeter is the second. This compound's security is the third. Three independent levels of access control protect this residence. Certificate of Occupancy. The title is individually registered, Lagos State-issued, confirmed, and available for solicitor review today. No upgrade path. No derivation chain. The title is done. $2,500,000 --- approximately ₦3,444,800,943 at current exchange rates. Dollar-denominated. The asset retains its dollar value regardless of naira movement. The entry price for a Banana Island residential address with a C of O, elevator, rooftop, jetty, private compound, and 2-room BQ --- in the most supply-constrained residential address in West Africa --- is $2.5M today. Banana Island does not flood. The island's planned drainage infrastructure, combined with its elevation above sea level and its position above any flood risk scenario that has affected Lagos in recorded history, make it the most physically secure residential address available in Lagos. Smilebay Realties does not list properties in flood-prone areas. This property on Banana Island Estate was assessed against that standard before listing. It passed. The call to action $2,500,000. Banana Island Estate. 5 bedrooms. 6 bathrooms. 7 toilets. Elevator. Rooftop. Jetty. Private compound with gate. 4-car parking. 2-room BQ. 2 living rooms. Pool. C of O. This is the Banana Island residential entry point that is accessible today. The buyer for this property is not comparing it to a house in Lekki or a duplex in Osapa. They are comparing it to the fully detached Banana Island options that are priced $100,000 to $1,000,000 above it --- and deciding whether the one shared wall of a terraced configuration on the island is the correct trade-off for the price differential. For most principals whose capital is structured at $2.5M, the answer is yes. The address is the island. The compound is private. The rooftop is there. The jetty is at the water. The title is clean. One call. C of O available for immediate solicitor review. Viewing by appointment. Call or WhatsApp Smilebay Realties: +234 901 517 4801 Banana Island. $2.5 million. The jetty is at the water's edge. The rooftop is above the island. The title is done. This is the one. 5 Bedrooms --- 6 Bathrooms --- 7 Toilets --- Terraced Duplex --- Serviced All Rooms En-Suite --- Self Compound --- Private Gate --- 4-Car Parking 2 Room BQ --- 2 Living Rooms --- Elevator --- Rooftop Space Common Swimming Pool --- Jetty (Water Access) --- Gym Fitted Kitchen --- Air Conditioning --- pop Ceilings --- Built-In Wardrobes --- Tiled Floors --- Water Heater --- Guest Toilet Power: 24/7 Power Supply --- Standby Generator --- Prepaid Meter --- Borehole --- Treated Water --- High-Speed Internet Security: Security Gate --- Perimeter Fencing --- Electric Fence --- Burglar Proof --- CCTV --- Security Gateman Title: Certificate of Occupancy --- Individually Registered --- Available for Immediate Solicitor Review Banana Island Estate, Banana Island, Ikoyi, Lagos Price: $2,500,000 (approximately ₦3,444,800,943 at current rates --- naira equivalent subject to exchange rate fluctuation) Flood-Free --- Confirmed by Smilebay Realties Pre-Listing Assessment Posted: July 12, 2026 NPC Comparable Context: 5-bedroom fully detached Ikoyi duplex --- ₦2,300,000,000 (not on Banana Island) 5-bedroom Ikoyi mansion --- ₦3,500,000,000 (not on Banana Island) This listing: Banana Island Estate terraced duplex --- $2,500,000 --- island address, jetty, C of O Listed by Smilebay Realties Limited --- Ref: 3568002
Banana Island Estate, Banana Island, Ikoyi, Lagos
5 Beds
6 Baths
7 Toilets
Smilebay Realties Limited
Premium
11
₦75,000,000/yr
Terraced duplex for rent
4 Bedrooms Terrace Duplex
Tastefully finished 5 units of 4 bedroom terrace apartments with a room service quarter each Location: Banana Island, Ikoyi Rent: 75 million Naira per annum per unit* Service charge: 3.5 million Naira exclusive of power Service charge covers, Security, water, cleaning of common areas, lightning of common areas, fumigation... Features; Ample parking space Fully fitted kitchen Walk-in closet Fire alarm system Dining area ACs Preferably a corporate tenant to take all or multiple units Not for shortlet use Contact Awai properties and Luxury Ltd
Banana Island, Ikoyi, Lagos
4 Beds
5 Baths
5 Toilets
3 Parking
Awai Properties and Luxury
Premium
14
₦4,800,000,000
Detached duplex for sale
6 Bedroom Detached Duplex with Elevator, Cinema, 2 BQ, Home Office
A luxury 6 Bedroom detached Smart House on three floors (Ground +3) sitting on 500sqm with the following features: 1. All ensuite bedrooms 2. Spacious parking space that can accommodate up to 6 cars 3. Internal Lift (elevator) 4. Private Swimming pool 5. Home Cinema 6. Home Office 7. Fully fitted gourmet kitchen 8. 2 room staff quarters 9. The Master's suite has a Gym House and a family lounge. 10. A roof-top with a sundeck Banana Island, Ikoyi, Lagos. Price N4.8B A Deed of assignment with a Governors consent. Contact: 09043135508
Banana Island, Ikoyi, Lagos
6 Beds
6 Baths
7 Toilets
3 Parking
Dannaproperties
Premium
13
₦45,000,000/yr
House for rent
Luxury 4 Bedrooms Maisonette
Spacious 4 Bedroom Maisonette with BQ inside a secured and gated estate Location: Banana island Ikoyi Price: N45m ( Ground floor ) N50m ( middle floor ) Features- -Ensuite rooms- Aesthetic pop ceilings- Spacious living room - Cctv cameras - Clean water - Top quality tiles - Pantry - Island countertop - Master's suite - 3 parking spaces - Secured estate - Good access roads - Flood free
Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
4 Toilets
CRL Real Estate
ADVERTISEMENT750 × 120
Premium
18
₦3,200,000,000
Semi-detached duplex for sale
Contemporary 5 Bedroom Semi Detached with a Penthouse, Pool, 2 BQS,
For sale contemporary 5 bedroom semi detached with a penthouse, pool , 2 BQS, elevator etc price ; As unfurnished ; 3.2B Naira As furnished ; 3.5B Naira location; Banana island ikoyi features: Contemporary Design Modern Structure All Rooms Ensuite 3 living rooms Elevator Swimming pool CCTV Video door bell security Fitted Kitchen Pantry 2 BQ Family Lounge Chandeliers Bluetooth Speakers Pop Ceiling Spacious Rooms Aesthetic Light Fittings Security Gate house Spotlights Balcony Interlocked Streets Secure Estate Great Neighborhood 24 Hours security Spacious Compound Stamp Concrete floor Walk-In Closet Water Heater Walk-In Showers
Banana Island, Ikoyi, Lagos
5 Beds
Keland & Associates
Premium
13
₦50,000,000/yr
Terraced duplex for rent
Fully Serviced 4 Bedroom Terraced Duplex + BQ
*for Lease Description: Tastefully finished 5 units of 4 bedroom terraced apartments with a room service quarter each Location: Banana Island, Ikoyi *Rent: 50 million Naira per annum per unit *Service charge: 4million Naira exclusive of power Agency 10% Legal 10% Caution 5% Service charge covers, Security, water, cleaning of common areas, lightning of common areas, fumigation... Features; Ample parking space Fully fitted kitchen Walk-in closet Fire alarm system Dining area ACs Not for shortlet use
Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
3 Parking
360 Degree Properties LTD
Premium
14
₦40,000,000/yr
Terraced duplex for rent
4 Bedrooms Terrace Duplex with a BQ
Property Available for Rent* _Tastefully finished 4-bedroom terrace with an attic room, an atrium, a study, an ante room, a sit-out area at the back, and Bq Available for rent_ Location: Dew of Hermon, Banana island. Features: Gated, Serene and Secured Estate All en-suite bedrooms with guest toilet. 24/7 Power Supply with personal prepaid meter (Pay as you use) Swimming pool, Sit out Lounge Fully equipped Gym Balconies Ample parking with maximum Security. fitted kitchen Rental Value: 40 million Naira Agency @ 10% of rental value Legal @ 10% of rental value Refundable caution deposit: 2.5million Naira Service charge: 2.8million Diesel deposit: 500k Power: N217/kwt
Dew Hermon Estate, Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
Jossy Divine Properties Nig LTD
Premium
1
₦69,999,990/yr
Terraced duplex for rent
Private and Luxury 4 Bedroom Terraced House + BQ
Direct clients preferable Premium & private 4 bedroom terrace house in Banana Island Estate ikoyi Rent: N69.9m per annum Call prince ademola osinuga international now to pay move in immediately
Banana Island Estate, Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
2 Parking
Prince Ademola Osinuga International
Premium
1
$5,000,000
Detached duplex for sale
Luxury 6 Bedroom Duplex Waterfront
A Luxurious Waterfront 6bedroom fully detached duplex in a mini estate with Elevator, family lounge, swimming pool, automated gate, 2rooms BQ and Private Jetty for Sale . Price $5m Banana Island, Ikoyi
Banana Island, Ikoyi, Lagos
6 Beds
6 Baths
6 Toilets
5 Parking
GM Homes LTD
Premium
6
₦1,500,000,000
Terraced duplex for sale
4 Spacious En-Suite Bedrooms Dedicated Parking Space
Banana island, lagos* Description: Renovated 4 Bedroom terrace house with all rooms en-suite, perfectly situated on 2nd Avenue in the prestigious estate in Ikoyi. Property Features *4 spacious en-suite bedrooms *Dedicated parking space *Air conditioning in all rooms *1-room staff quarters *Fully equipped kitchen *Swimming pool *Gymnasium *Balcony terrace on each floor *Serene and secure environment Financial Details Rent value: ₦40,000,000 per annum Service Charge: ₦3,000,000 per annum Diesel Deposit: ₦2,500,000 Vic
Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
Charis Estate
Premium
11
₦30,000,000/yr
House for rent
Furnished 2 Bedroom
Ikoyi parkview furnished rent. 2 bedroom fully furnished Apartment for Lease in Banana Island, Lagos. Rent: 30M X 2yrs Service charge: 3m Alc: 10% gz
Banana Island, Ikoyi, Lagos
2 Beds
3 Baths
3 Toilets
Go Global Realty
Premium
12
₦4,300,000,000
Detached duplex for sale
5-Bedroom Fully Detached on 3 Floors Swimming Pool, Private Elevator
For sale This stunning 5-bedroom fully detached duplex is set across 3 floors and offers premium features designed for comfort, class, and exclusivity. Features - Swimming pool - Private elevator - Open terrace - Spacious living areas - Elevator - Fully fitted kitchen - Premium finishing - Serene Environment Location: Banana Island, Lagos Price: ₦5 Billion Asking Title: Governor's Consent & Building Approval Location: Banana island, Ikoyi. Owner
Banana Island, Ikoyi, Lagos
5 Beds
5 Baths
6 Toilets
Charis Estate
Premium
16
₦50,000,000/yr
Terraced duplex for rent
Tastefully Finished 4-Bedroom Terrace with an Attic Room, an Atrium, a Study, an Ante Room
Semi direct property available for rent _Tastefully finished 4-bedroom terrace with an attic room, an atrium, a study, an ante room, a sit-out area at the back, and Bq Available for rent_ Location: Banana island. Features: Gated, Serene and Secured Estate All en-suite bedrooms with guest toilet. 24/7 Power Supply with personal prepaid meter (Pay as you use) Swimming pool, Sit out Lounge Fully equipped Gym Balconies Ample parking with maximum Security. fitted kitchen Rental Value: 50million Naira Agency @ 10% of rental value Legal @ 10% of rental value Refundable caution deposit: 2.5million Naira Service charge: 2.8million Diesel deposit: 500k Power: N217/kwt
Banana Island, Ikoyi, Lagos
4 Beds
4 Baths
5 Toilets
1st Step Properties LTD
Premium
17
₦40,000,000/yr
House for rent
Fully Serviced 4 Bedroom Apartment with Communal Pool, Gym & Elevator
For Rent Fully Serviced 4 Bedroom Apartment With Communal Pool, Gym, Elevator & Waiting Area. Features: -All rooms en-suite -Fully serviced -Ample parking space -Access card elevator -Functional communal pool -Fully fitted gym -Fitted ACs in all rooms -Fully fitted kitchen with washing machine -24/7 power supply : Banana Island Road, Ikoyi, Lagos State. ₦40,000,000 Per Annum Agency: 10% Legal: 10% Caution: 10% Service Charge: ₦1,200,000 Per Annum
Banana Island, Ikoyi, Lagos
4 Beds
5 Baths
4 Toilets
Ernyson Properties
Showing 101–120 of 409 properties
Area Guide
About Banana Island, Nigeria
Banana Island, is an artificial island off the foreshore of Ikoyi, Lagos, Nigeria. The Island is a man-made island and is shaped 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. Banana Island has residential and commercial areas, as well as sites for recreational activities
It occupies a sand-filled area of approximately 1,630,000 square metres and is divided into 536 plots (of between 1000 and 4000 square metres in size) mainly arranged along cul-de-sacs. Dwellers in this Island are provided with world class utilities including underground electrical systems (versus the overhead cabling common throughout Lagos), an underground water supply network, a central sewage system and treatment plant, and street lighting and satellite telecommunications networks
