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Eco Buildings Group PLC said on Tuesday it will launch a new subsidiary in Sudan with Socotra Real Estate Development and Investment Company. Shares in Eco Buildings climbed 35% to 7.16 pence in London on Tuesday afternoon. London-based modular construction business Eco Buildings said it contracted an investment of €5 million by Socotra to fund two new production lines for the new subsidiary Eco Buildings Sudan Ltd. Socotra, a Khartoum, Sudan-based facilities management and logistics group, will receive an undisclosed stake in Eco Sudan and is entitled to receive 50% of any net profits generated. Discussing the joint venture rationale, Eco Buildings said it looking to address the ‘significant market opportunities for modular housing in Sudan’. Eco Buildings said the funding commitment will be received over the course of the next six months to allow for the provisioning of a site to locate the manufacturing facility and initiate the corporate structure and governance of Eco Sudan. Eco Buildings Executive Vice Chair Etrur Albani said: ‘The landmark JV in Sudan with Socotra not only serves to further demonstrate the increasing global demand for our GFRG modular housing solutions, but also the efficiency of our international expansion strategy. Sudan lies at the centre of a geographic region with significant potential. ‘The MOU with Socotra is a material step forward in realising that potential.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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