FCMB commits $40M to Luxury Green Tower in Eko Atlantic
The Managing Director/CEO, First City Monument Bank (FCMB), Mrs. Yemisi Edun, and the President of TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC), Mr. Louis Ogbeifun, at the signing of a $40m facility from FCMB to fund the construction of phase 1 of TEHC’s Louisville residential apartments in Eko Atlantic City, Lagos. The event took place on July 16, 2025 in Lagos.
First City Monument Bank (FCMB) has committed $40 million to support the development of Louisville Phase 1, a premium residential tower in Eko Atlantic City, Lagos, in partnership with the TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC).
The tower, comprising 157 apartments ranging from two and three-bedroom flats to four-bedroom maisonettes and five-bedroom penthouses, is part of a larger $150 million Louisville Mixed-Use Development, a bold urban infrastructure project set to transform West Africa’s real estate landscape.
The project will include a hotel, commercial centre, retail outlets, multipurpose halls, a cinema complex, gaming arcade, wellness centre, and a 1,400-capacity parking facility—all designed around sustainable, energy-efficient living.
“This partnership with TotalEnergies Housing Cooperative Multipurpose Society Ltd is our commitment to finance a project that supports Nigeria’s urban growth,” said Yemisi Edun, Managing Director and CEO of FCMB.
“The Louisville Mixed-Use Development supports integrated living and the development of a live, work and play environment that meets global standards. This collaboration reflects FCMB’s strategic focus on real estate to enable job creation and community development.”
Louisville’s design incorporates smart home systems, green technologies, and sustainable construction practices, making it one of Nigeria’s most eco-conscious developments to date.
The project has earned two EDGE (Excellence in Design for Greater Efficiencies) certifications from the International Finance Corporation (IFC), awarded at the Future Cities – Africa Green Building Summit co-hosted by the Green Building Council Nigeria (GBCN).
“This partnership marks a bold step in global collaboration for urban renewal,” said Oluwakemi Balogun, Chief Commercial Officer at TEHC.
“We’re proud to work with FCMB to bring to life the first phase of the elite urban ecosystem in Africa.”
Construction has already commenced with piling work completed, and the remainder of the build scheduled in phases over the next 36 months.
ITB Nigeria Limited, a leading engineering firm with a strong track record, has been appointed as the turnkey EPC contractor for the project.
“Louisville will be a revolution in the developments within Eko Atlantic, Lagos, and Nigeria at large,” added Ramzi Chidiac, Managing Director of ITB Limited.
As the sole financier, FCMB sees the Louisville development as a strategic move to address housing deficits, support enterprise within the free trade zone, and stimulate the broader urban economy.
This initiative also marks FCMB’s first major international infrastructure collaboration with a housing cooperative, underlining the bank’s growing interest in large-scale real estate investments that align with Nigeria’s economic and environmental goals.
