FCMB Backs TEHC Flagship Project in Eko Atlantic with $40m Loan Facility

First City Monument Bank (FCMB) and TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC) have partnered to finance and deliver Louisville Phase 1, a tower that will comprise 157 residential apartments, including two and three-bedroom apartments, four-bedroom maisonettes, and five-bedroom penthouses, in Eko Atlantic City, Lagos.

“This residential tower is phase 1 of the larger Louisville project, a $150 million mixed-used development that will include a world-class hotel complex, a world-class commercial center with retail shops, multipurpose halls, high-quality cinemas and a games arcade, state-of-the-art sporting facilities with a gym, swimming pool, and wellness center, and a car park facility to accommodate over 1,400 cars.

“As West Africa’s first integrated urban ecosystem, Louisville Mixed-Use Development proudly holds two prestigious Excellence in Design for Greater Efficiencies (EDGE) certifications from the International Finance Corporation (IFC). These accolades, recognised during the Future Cities – Africa Green Building Summit co-hosted by the Green Building Council Nigeria (GBCN), reflect Louisville’s bold commitment to sustainability and best-in-class green building practices,” FCMB said in a statement.

The development, it added, will distinguish itself not only by its ambitious scale and innovative mixed-use structure, “but also by its forward-thinking design that embraces smart and eco-conscious living. The entire structure will be built to eco-friendly standards, integrating green technologies, smart home systems, and sustainable construction practices aimed at reducing environmental impact while maximising energy efficiency, comfort, and modern luxury.”

Managing Director and CEO, FCMB, Yemisi Edun, said: “This partnership with Total Energies Housing Cooperative Multipurpose Society Ltd is our commitment to finance a project that supports Nigeria’s urban growth. The Louisville Mixed-Use Development supports integrated living and the development of a live, work and play environment that meets global standards in facilities and hospitality. This collaboration reflects FCMB’s strategic focus on real estate to enable job creation and community development.” 

Chief Commercial Officer, TEHC, Oluwakemi Balogun, stated: “This partnership marks a bold step in global collaboration for urban renewal. We’re proud to work with FCMB to bring to life the first phase of the elite urban ecosystem in Africa.”

Managing Director of ITB Limited, Ramzi Chidiac, said: “Louisville will be a revolution in the developments within Eko Atlantic, Lagos, and Nigeria at large”.