First City Monument Bank (FCMB) and TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC) have joined forces to finance the construction of Louisville Phase 1, an ambitious residential tower in Eko Atlantic City, Lagos.
9am News report gathered that the tower will feature 157 premium apartments, including two and three-bedroom flats, four-bedroom maisonettes, and luxury five-bedroom penthouses. The project marks the initial phase of the $150 million Louisville Mixed-Use Development, West Africa’s first integrated urban ecosystem, designed to blend residential, commercial, and hospitality offerings.
When completed, the larger Louisville project will include a world-class hotel, a high-end commercial centre with retail shops, multi-purpose halls, cinemas, games arcades, top-tier sporting facilities with a gym, swimming pool, and wellness centre, alongside a car park facility for over 1,400 cars.
The development proudly holds two Excellence in Design for Greater Efficiencies (EDGE) certifications from the International Finance Corporation (IFC), a testament to its sustainability standards and innovative green building design. The project was recently recognised during the Future Cities – Africa Green Building Summit, co-hosted by the Green Building Council Nigeria (GBCN).
With sustainability at its core, Louisville Phase 1 will incorporate smart technologies, green construction practices, and energy-efficient systems to deliver a modern, eco-friendly lifestyle.
ITB Nigeria Limited, the reputable engineering firm behind major landmark projects in Nigeria, has been appointed as the piling and turnkey EPC contractor for the tower, following a rigorous selection process by TEHC.
FCMB is backing Phase 1 with a $40 million facility its first major international infrastructure collaboration with a housing cooperative. Piling work has been completed, and construction will proceed in phases over the next 36 months.
Yemisi Edun, Managing Director and CEO of FCMB, described the partnership as a milestone that aligns with the bank’s strategy to bridge Nigeria’s housing gap and stimulate urban growth:
“This collaboration reflects FCMB’s strategic focus on real estate to enable job creation and community development. 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.”
Oluwakemi Balogun, Chief Commercial Officer of TEHC, added:
“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.”
Ramzi Chidiac, Managing Director of ITB Nigeria Limited, said:
“Louisville will be a revolution in the developments within Eko Atlantic, Lagos, and Nigeria at large.”
The project is expected to create jobs, attract high-value investments, and strengthen Eko Atlantic’s reputation as a beacon of sustainable urbanisation in Africa.
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