7th Oct 2025 15:09
(Alliance News) - Eco Buildings Group PLC on Tuesday said its joint venture in Senegal has been allocated a 5,000 home housing programme.
The London-based prefabricated modular housing products manufacturer said it has entered a full shareholders agreement with G2 Invest Group to form the joint venture, which is called Eco Buildings Senegal Ltd.
Under the agreement, G2 Invest has committed to making a EUR1.8 million payment into Eco Buildings Senegal LLC.
The payment is expected to be received in December.
G2 Invest said that phase one of the housing programme, which totals around 900,000 square metres of built-up floor area, has been formally allocated to the joint venture.
"This marks a significant commercial inflection point for Eco Buildings as the project moves from planning into the execution and delivery phase," the company said.
Eco Buildings said it expects planning approval to be completed before the end of the year.
It added that mobilisation of the first manufacturing line is underway, with deployment scheduled to align with the planning approval timetable.
"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," said Executive Vice Chair Etrur Albani.
"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."
Shares in Eco Buildings were up 9.8% at 4.50 pence in London on Tuesday afternoon.
By Michael Hennessey, Alliance News reporter
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