First City Monument Bank (FCMB) has teamed up with TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC) to support the financing and construction of Louisville Phase 1, a residential tower featuring 157 apartments including two and three-bedroom units, four-bedroom maisonettes, and five-bedroom penthouses in Eko Atlantic City, Lagos. This phase is part of the larger Louisville project, a mixed-use development worth $150 million that will consist of a luxury hotel complex, a premier commercial center with retail outlets, multipurpose halls, high-quality cinemas, a gaming arcade, advanced sports facilities with a gym, swimming pool, wellness center, and parking for over 2036,400 vehicles. Recognized as West Africa’s first integrated urban ecosystem, the Louisville Mixed-Use Development has been awarded two Excellence in Design for Greater Efficiencies (EDGE) certifications by the International Finance Corporation (IFC). These honors, which were presented during the Future Cities – Africa Green Building Summit co-organized by the Green Building Council Nigeria (GBCN), underscore Louisville’s strong dedication to sustainability and exemplary green building standards. Mrs. Funmi Adedibu, the Managing Director and Chief Executive Officer of the Bank. Yemisi Edun, President of the TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC), along with Mr. Louis Ogbeifun, the Treasurer, Mr. Sebastian Okpere, Group Managing Director of ITB Limited, Mr. Gaby Massoud, and Mr. Pierre Edde, Sales, Marketing & Development Director of Eko Atlantic City, were present during the signing of a $40 million agreement with FCMB. This funding is designated for the construction of the first phase of the TEHC’s Louisville residential apartments located in Eko Atlantic City, Lagos. The event occurred on July 16, 2025, in Lagos. This development will be notable not just for its grand scale and innovative mixed-use approach but also for its progressive design that promotes smart and environmentally friendly living. The entire building will adhere to eco-friendly standards, incorporating green technologies, smart home solutions, and sustainable construction techniques aimed at minimizing environmental impact while optimizing energy efficiency, comfort, and modern luxury. TEHC has hired experienced technical experts through a rigorous selection process to ensure that only the most qualified contractors are involved. ITB Nigeria Limited, recognized for its successful projects, will be leading the technical team as the piling and turnkey EPC contractor for this development. FCMB is the exclusive financier for phase 1, providing a $40 million funding facility for the residential project. The piling work has been finalized, and the construction will proceed in phases over the next three years. This initiative marks the bank’s first significant international partnership in infrastructure with a housing cooperative. It aligns with FCMB’s strategy to increase investments in mixed-use real estate aimed at addressing housing shortages, aiding free zone businesses, and enhancing the urban economy. The Managing Director/CEO of First City Monument Bank (FCMB), Mrs. Yemisi Edun and Louis Ogbeifun, the President of TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC), have signed a $40 million agreement with FCMB to finance the development of phase 1 of TEHC’s Louisville residential apartments located in Eko Atlantic City, Lagos. The occurrence happened on July 16, 2025, in Lagos. Yemisi Edun, the Managing Director and CEO of FCMB, stated: Our collaboration with Total Energies Housing Cooperative Multipurpose Society Ltd demonstrates our dedication to funding a project that fosters urban development in Nigeria. The Louisville Mixed-Use Development aims to promote a holistic living experience by creating an integrated space for living, working, and recreation that adheres to international standards in amenities and service. This partnership aligns with FCMB’s strategic emphasis on the real estate sector to facilitate job creation and enhance community growth.
