Eco Buildings has signed a framework agreement with the government of The Gambia to establish a manufacturing base and deliver a housing programme of at least 10,000 homes in the West African country.
The modular housing technology company said the agreement, signed with Gambia’s interior and defence ministries and with Lumen Holdings, an existing business-development service provider to Eco, would make the country its West African headquarters and an “AI-powered centre of excellence,” with a manufacturing hub intended to serve the wider West African ECOWAS bloc.
An initial phase would cover at least 1,000 homes.
The company described the deal as a long-term industrial framework rather than a conventional supply contract, and said it would set up a local operating company to handle manufacturing and delivery.
It would retain ownership of its intellectual property, while the government would assist with land, permits and other approvals.
However, this is far from a done deal, with detailed investment, financing, and shareholder arrangements, including how the project will be funded and the cost of the manufacturing facility, yet to be agreed and would be documented under separate definitive agreements.
Dr Etrur Albani, Founder and Executive Vice Chairman, said: “Today marks a defining moment in Eco’s development. This is not just an agreement to supply homes and it is not simply an agreement to build a factory.”
“It establishes the framework for Eco to become a long-term strategic industrial partner to the Government of The Gambia and to build our West African Headquarters, AI-Powered Centre of Excellence. This proposed Centre will include an advanced automated manufacturing facility; an AI and Construction Innovation Centre; a Technical and vocational training academy; a regional logistics and deployment hub and a Digital engineering and BIM cent and regional export platform.”
Eco Buildings shares sprang into life last year when it announced a series of deals that validated its concept and set it on the path to higher revenue generation. Upcoming interims will be a crucial gauge of how well this has been executed.