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Highlights:
- Dominican Partnership Secured: Eco Buildings Group has partnered with the Dominican Republic government to provide 10,000 modular homes.
- $237 Million Deal Inked: The agreement with Gramma Constructora spans five years, with 2,000 units planned for delivery annually.
- Sustainable Manufacturing Expansion: Plans include testing advanced gypsum panels and exploring a local manufacturing facility.
Shares in Eco Buildings Group PLC (LSE:ECOB) surged 24% following an announcement of significant progress in its partnership with the Dominican Republic government. The housing initiative is part of Eco Buildings’ strategy to revolutionize construction with its modular housing technology, which delivers cost-effective and sustainable housing solutions.
Housing Minister Carlos Bonilla Sanchez recently visited Eco Buildings’ advanced modular housing factory in Albania. The facility produces homes that cost half as much as traditional builds, weigh two-thirds less, and can be constructed five times faster. The minister’s tour marked a pivotal moment in strengthening ties between Eco Buildings and the Dominican Republic’s housing program.
Eco Buildings has secured a letter of intent with Dominican construction company Gramma Constructora to deliver 10,000 modular homes over the next five years. The deal is valued at $237 million and outlines an initial annual delivery target of 2,000 units. The rollout is subject to regulatory approvals and homologation, a process that aligns certifications from other regions with local requirements to minimize delays.
The agreement extends beyond housing delivery. Plans are in place to test Eco Buildings’ innovative glass fibre-reinforced gypsum panels, which offer enhanced durability and sustainability. Discussions are also underway to establish a manufacturing facility in the Dominican Republic, further showcasing Eco Buildings’ commitment to creating affordable, high-quality housing while contributing to local economic development.
This partnership underscores the potential of modular construction to address global housing challenges. By reducing costs, speeding up construction timelines, and incorporating sustainable materials, Eco Buildings is positioning itself as a leader in affordable housing solutions. Shares in the company rose to 8.4p, up 1.65p, reflecting investor confidence in the transformative potential of this collaboration.
