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Eco Buildings Group PLC on Thursday announced a new construction contract in Tirana, and a £300,000 loan to support funding. In response, shares in Eco Buildings were 22% higher at 3.35 pence in London on Thursday afternoon. The London-based prefabricated modular housing products manufacturer has won a contract to construct ‘a luxury low-rise apartment block comprising 18 single dwellings’, with building to start ‘immediately’. Once this is complete, Eco Buildings said it has a letter of intent in place to construct two more identical apartment blocks in the next year’s first two quarters. Additionally, it said negotiations continue for the construction of another three blocks. Eco Buildings expects each building to generate €2.2 million in revenue. ‘The Eco Buildings’ board believes this will serve as a precursor to a larger villa development in Albania, which the board hopes will commence upon completion of these 6 apartment blocks,’ the company said. It believes it was able to secure the deal because its technology saves ‘substantial time and costs’ for the developer ‘by delivering a significantly more affordable solution compared to traditional wall construction’. ‘This contract represents the first phase of a premier luxury development in Tirana,’ commented Executive Vice Chair Etrur Albani. ‘It highlights the superior quality of our factory-produced products and reaffirms our strategic decision to establish operations in Albania.’ Additionally, Eco Buildings said it has raised £300,000 through the issuance of a zero coupon, 2-year loan note to fund the initial contract. The CLN is convertible at 4p per share. It said the loan has been subscribed for by existing shareholder Frazer Lang. ‘Having recently visited Eco’s production site in Albania, I am deeply impressed by the team’s expertise and the disruptive potential of their technology to revolutionise the construction industry,’ Lang commented. ‘This funding will enable the company to accelerate growth and capitalise on exciting opportunities, such as this landmark apartment development, amid Albania’s booming construction sector.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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