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Highlights
- Groundworks and foundations for 18-unit apartment block in Tirana completed.
- The company receives first 10% contract payment of EUR 220,000 from developer.
- Ground floor construction commenced with project ahead of schedule.
Eco Buildings Group PLC (LSE:ECOB), a designer, manufacturer, and builder of modular housing systems, announced that it has completed all groundworks and foundations for its 18-unit apartment development in Tirana, Albania. The completion of this phase has triggered the receipt of an initial 10% contract payment worth EUR 220,000 from the project’s developer.
Following this milestone, Eco Buildings confirmed that ground floor construction has now commenced, and the project remains on track to be delivered ahead of schedule.
Progress Aligned with Earlier Announcements
The update follows prior RNS statements released on 4 September 2025 and 9 September 2025, in which the Company reported that 40% of the required materials had already been produced and stocked. The latest progress confirms that the project continues to advance within the previously communicated 6-to-9-month delivery timeline.
Expanding Pipeline and Ongoing Negotiations
The 18-unit apartment block represents the initial stage of Eco Buildings’ expanding project pipeline in Albania. The company reported that negotiations are underway for three to four additional apartment blocks and broader discussions are taking place regarding a potential nationwide roll-out of its modular technology.
This development is being executed in partnership with one of Albania’s leading property groups, aimed at delivering energy-efficient housing solutions using Eco Buildings’ proprietary Glass Fibre Reinforced Gypsum (GFRG) modular system. The site in Tirane will ultimately include six apartment blocks and several high-quality detached villas of varying sizes.
Next Steps and Management Commentary
The completion and handover of the first apartment block are now anticipated ahead of the original schedule.
Dr. Etrur Albani, Executive Vice-Chairman of Eco Buildings, stated:
“Eco Buildings continues to position itself as a leading innovator in sustainable modular housing, combining speed of construction, reduced carbon footprint, and enhanced thermal performance to address the growing demand and shortage of housing across Europe and emerging markets. The Company will provide further updates as the Albanian project reaches new construction milestones and as the additional apartment blocks are formally contracted.”
Share Performance
The company shares are currently trading at GBX 21.96 slightly down by 0.66% from its previous close of GBX 22.10.
