Eco Buildings Group, a UK-listed modular housing company whose factory is in Albania, says that it has received a letter of intent confirming a £190m order from the Dominican Republic for 10,000 houses.
“With products that are up to 50% cheaper, two-thirds lighter, and five times faster to build than conventional homes, our technology is uniquely positioned to address the Dominican Republic's pressing social housing needs,” the manufacturer said.
Eco Buildings’ glass fibre-reinforced gypsum (GFRG) panels have already been certified in Chile and approved for use across multiple Latin American markets.
Eco Buildings said that it has received a letter of intent from Gramma Constructora SRL, a large private construction company in the Dominican Republic. This agreement outlines the purchase of 10,000 modular homes over the next five years, subject to regulatory approvals.
A sample wall is already on its way to the Dominican Republic for evaluation and testing. Gramma Constructora SRL has committed to acquiring an initial tranche of 2,000 units a year on receiving the necessary government certifications. There are also talks about setting up a manufacturing facility in the Dominican Republic.
Eco Buildings said that the letter of intent followed a visit to the factory in Albania by a delegation led by the Dominican Republic's housing minister, Carlos Bonilla Sánchez.
According to Eco Buildings: "The visit marks a significant milestone in the partnership discussions between Eco Buildings and the Dominican Republic government."
In a statement following Eco Buildings' London Stock Exchange announcement, the Dominican Republic Ministry of Housing and Buildings said: "Minister Carlos Bonilla Sánchez visited Albania not only in his official capacity as the head of the Ministry of Housing and Buildings of the Dominican Republic (MIVED) but also as a civil engineer. His visit to the company Eco Buildings had the sole purpose of learning about and evaluating, from a technical and practical perspective, the construction method used by the company. The aim was to explore possible innovations that could be implemented in the country and ensure that the construction sector remains at the forefront.
"Furthermore, the company Gramma Constructora SRL has categorically denied having established any contact with the government of the Dominican Republic, through MIVED, for the purchase of affordable housing from Eco Buildings Group."
Eco Buildings chief executive Sanjay Bowry said: "We are very pleased with the progress achieved during the Dominican Republic delegation's visit to our Albanian factory. Their enthusiasm and recognition of our technology's value reaffirms Eco Buildings' ability to meet critical housing challenges globally. The successful alignment of our vision with their housing strategy marks the beginning of what we hope will be a long-term, impactful partnership."
"We look forward to formalising agreements in the near future and contributing to the Dominican Republic's social housing initiatives, helping to deliver thousands of homes that are not only affordable but also sustainable and high-quality."
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