Eco Buildings Group (AIM:ECOB) has entered a binding Strategic Investment Framework Agreement with the Government of The Gambia, covering a minimum 10,000-home housing programme with an initial 1,000-home order.
The AIM-listed technology-led housing manufacturer, which builds using its proprietary GFRG (glass fibre reinforced gypsum) technology, signed the deal alongside co-signatory Lumen Holdings and Gambia's Ministries of Interior and Defence.
A new local entity, Eco Buildings Gambia, will act as the exclusive implementation, manufacturing and technology-transfer platform in the country, positioned as Eco's West African headquarters and an AI-powered "Centre of Excellence".
The government will provide a site of roughly 300 by 400 metres with expansion rights, alongside facilitation on land, permits, customs, utilities and investment approvals, while Eco retains ownership of its patents, software and manufacturing know-how.
Financing, shareholder and manufacturing terms are still to be agreed under separate definitive agreements, and the specifications and funding of the planned production facility remain undecided.
Eco's model targets roughly six homes per day per production line, with the Gambian site intended as a base for regional exports across ECOWAS, the Economic Community of West African States.
"This is not just an agreement to supply homes and it is not simply an agreement to build a factory," said Dr Etrur Albani, Eco's founder and executive vice chairman, calling it validation of the company's shift "from an MMC producer into a technology-led housing manufacturing platform."
Next steps include establishing NEWCO and negotiating the shareholders, investment, land, manufacturing and supply agreements needed to move the project into delivery.
News Intelligence what this means for the company
Eco Buildings has secured a binding framework agreement with The Gambia's government for a minimum 10,000-home programme with an initial 1,000-home order, plus establishment of a West African manufacturing hub and technology centre. The deal validates the company's pivot from a domestic MMC producer into a technology-licensing platform, but critical terms—financing, shareholder structure, manufacturing facility specs, and funding—remain unsigned, leaving execution risk material.
This is a material expansion of Eco's addressable market beyond the UK and Albania into West Africa, with the Gambian site positioned as a regional export base across ECOWAS. However, the framework is binding only on the housing programme and government land provision; the absence of agreed financing, manufacturing terms, and facility specifications means the path from 1,000 homes to 10,000 remains contingent on separate negotiations, and the company has not disclosed capital requirements or timeline.
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