REG - Eco Buildings Group - Operational Update on Senegalese Subsidiary

Eco BuildingsAnnouncement

07/10/2025 07:00

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RNS Number : 2747C  Eco Buildings Group PLC  07 October 2025

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"

 

Eco Buildings Secures Senegal JV to Deliver 900,000 m² / 5,000-Home Modular Housing Programme

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.

About Eco Buildings Group plc

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

For more information, please contact:

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

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