12th November 2024
Eco Buildings Group
plc
(the "Company" or the
"Group")
Delegation from the Dominican
Republic Visit
Eco
Buildings Group plc (AIM: ECOB), the
UK-listed modular housing company, is pleased to announce that a
delegation from the Dominican Republic is today visiting Eco's
factory in Albania to inspect the manufacturing facility and its
products being up to 50% cheaper, two-thirds lighter and five times
faster to build than conventionally built homes.
The delegation is headed by Minister
Carlos Bonilla Sanchez - the current Minister of Housing,
Habitat and Buildings for the government and is the first step to
provide much needed social housing for the Dominican
Republic.
Eco Buildings is in detailed
negotiations to provide modular houses in support of the
development of large volumes and expects to provide a further
update in the near term.
As previously announced the
manufactured building material (glassfibre reinforced gypsum wall -
GFRG) has been fully tested and certified in Chile and as a result
is accepted as an approved building material in a number of Latin
American countries including the Dominican Republic.
Sanjay Bowry, CEO, Eco Buildings said, "We believe Eco Buildings produces the highest
specification, lowest cost product in the market. Moreover, with
the fully automated factory in full production, we welcome Minister
Bonilla Sanchez whose visit to our factory to examine our
compelling product and provide assurance over the security of
supply is expected to lead to orders from his
government.
We look forward to updating
the market on meeting the requirements of the social housing
programme in the Dominican Republic.
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Further information is available on
Eco Buildings website: www.eco-buildings.net
For more information
contact:
|
Eco
Buildings Group plc
Sanjay Bowry, Chief Executive
Officer
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
|
Notes
The Company has acquired proven and
innovative prefabricated technology which has been in development
and commercial use since 2006. Eco Buildings' range of
prefabricated, green housing products based on glass fibre
reinforced gypsum panels ("GFRG") provides a construction solution
for both affordable and high-end housing.
Eco Buildings has already secured
two sales contracts with major construction companies, one in
Albania, the other in Kosovo, which are expected to generate gross
sales revenue of approximately up to €38 million in total per annum
over the first three years (approximately €114 million in total)
following Admission.
The market share for factory-based
building technology is expected to grow significantly over the
coming years as private developers and the public sector seek to
address the substantial and growing deficit in housing stock and
issues of construction cost, speed and quality and housing
affordability.