**Summary**
Eco Buildings Group PLC, a UK-listed modular construction company, has announced a €2.2 million contract to build a luxury 18-unit apartment block in Tirana, Albania. Construction will begin immediately, with plans for five additional identical structures in the pipeline. The project is expected to generate €2.2 million per apartment block, maintaining the companys 40% gross margin. Eco Buildings innovative technology, based on glass fibre reinforced gypsum (GFRG) panels, offers a cost-effective and faster alternative to traditional construction methods.
To fund the initial contract, the company has issued a £300,000 zero-coupon convertible loan note to existing shareholder Frazer Lang. The note has a 2-year term, is convertible at 4 pence per share, and includes warrants exercisable at 8 pence per share. This funding will support the companys growth in Albanias booming construction sector.
The contract marks the first phase of a larger luxury development in Tirana and underscores Eco Buildings strategic expansion into Albania. The companys modular housing solutions, catering to both affordable and high-end markets, are poised to capitalize on the growing demand for factory-based building technology globally. With a strong pipeline of projects and innovative technology, Eco Buildings aims to redefine sustainable and efficient construction.