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On 7 October 2025, Eco Buildings Group PLC and G2 Invest Group entered into a full Shareholders Agreement to establish a joint venture vehicle named Eco Buildings Senegal Limited. G2 Invest has committed an initial €1.75 million payment into Eco Buildings Senegal LLC, which is expected in December 2025. A phase one housing programme totaling 900,000 m² (equivalent to 5,000 homes) has been formally allocated to the joint venture, with mobilisation of the first manufacturing line currently underway.
| Date | 7 Oct 2025 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 2747C |
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.
7th October 2025
Eco Buildings Group PLC
"Eco Buildings", "Eco" or the "Company"
JV with G2 Invest advances to execution phase; factory mobilisation underway and first-phase planning approvals expected before year-end
Eco Buildings Group plc (the "Company" or the "Group"), a UK-listed modular construction company, is pleased to announce a major milestone in its strategic joint venture in Senegal with G2 Invest Group, one of Dakar's leading logistics and facilities management companies.
This milestone follows Eco Buildings' previously announced strategic framework for a 10,000-home programme in Senegal, demonstrating rapid progression from agreement to on-the-ground mobilisation.
Following the binding Memorandum of Understanding (MoU) signed earlier this year, the parties have now entered into a full Shareholders Agreement (the "Agreement") establishing the terms of the joint venture vehicle to be named, Eco Buildings Senegal Limited. In accordance with the Agreement and as previously announced, G2 Invest has committed to making an initial €1.75m payment into Eco Buildings Senegal LLC. This payment is expected to be received in December 2025.
G2 Invest confirmed that phase one of the housing programme totaling approximately 900,000 m² of built-up floor area - equivalent to 5,000 homes - has been formally allocated to the joint venture. This programme will be delivered using Eco's proprietary modular building systems.
This marks a significant commercial inflection point for Eco Buildings as the project moves from planning into the execution and delivery phase.
Eco's modular system enables rapid, high-quality delivery at scale, providing a cost-effective solution to address significant housing deficits in emerging markets.
Planning approvals are expected to be completed before year-end, reflecting the sequencing of regulatory and mobilisation steps. This will allow site works and factory deployment to begin immediately thereafter.
Mobilisation of the first manufacturing line is underway, with deployment scheduled to align with the planning approval timetable, positioning the JV to commence site works immediately following regulatory sign-off.
Dr Etrur Albani, Executive Vice Chairman of Eco Buildings Group plc, commented:
"This joint venture has now moved decisively from agreement to action. With the JV structure in place, factory mobilisation underway, final planning approvals expected before year-end, and a 5,000-home programme allocated, we are positioned to deliver meaningful scale in Senegal. This partnership combines Eco's proven modular technology and delivery capability with G2 Invest's strong local presence and government relationships. Together, we are addressing Senegal's housing challenge with speed, scale, and sustainability.
This first phase not only represents a significant revenue pipeline in its own right, but also establishes a strategic operational base from which Eco Buildings intends to replicate its modular housing model across other West African markets."
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
Eco Buildings is a leading innovator in prefabricated, green housing products, leveraging proven technology based on GFRG panels. Our modular housing solutions cater to both affordable and high-end housing markets, combining cost efficiency, speed of construction, and sustainability. With a growing portfolio of international projects, Eco Buildings is redefining construction for the future.
More information: www.eco-buildings.net
Eco Buildings Group plc
Dr Etrur Albani, Executive Vice Chairman
Fiona Hadfield, Finance Director
Tel: +44 (0) 207 380 0999
Spark Advisory Partners Limited (Nominated Adviser)
Matt Davis / James Keeshan
Tel: +44 (0) 203 368 3550
Tavira Securities Limited (Broker)
Oliver Stansfield / Jonathan Evans
Tel: +44 (0) 203 192 1739
CMC Capital Markets (Joint Broker)
Tel: +44 (0) 203 003 8632
Douglas Crippen