The AIM-listed housing tech company has reached a key construction landmark on its Balfin contract, extending a month-long 19% rally.
Eco Buildings Group PLC (AIM:ECOB, FRA:9ZL0) shares rose 4% to 14p on Tuesday, extending a 19% advance over the past month, after the AIM-listed industrialised housing technology company announced it had completed the ground floor and sub-ground parking level of the first apartment block at the Rolling Hills residential development in Tirana, Albania.
The project is being delivered for the Balfin Group, one of the region's leading property developers, and represents what Eco Buildings describes as a flagship reference site for future contract opportunities across Albania and its wider target markets.
Each apartment block at the site is expected to generate approximately €2.2 million in revenue, with margins in line with those previously reported by the company, subject to programme delivery and normal commercial conditions.
The first block contains 18 apartments averaging 100 square metres and forms part of a larger multi-building programme, with the apartment blocks serving as a precursor to a villa development on the same site.
Eco Buildings said it holds sufficient manufactured GFRG (glass fibre reinforced gypsum) panel inventory to complete the first block without further production delays, a detail that reduces near-term execution risk and underlines the company's industrialised, manufacturing-led approach to construction.
The milestone matters beyond its immediate revenue contribution because Eco Buildings' investment case rests on demonstrating that its prefabricated panel system can be deployed repeatably across multiple geographies and housing segments, reducing its dependence on any single contract or market.
Delivery for a recognised regional developer such as Balfin, whose portfolio includes premium residential and mixed-use schemes across the Balkans, provides the kind of third-party validation that could support future contract conversion in new markets.
Executive Vice Chairman Dr Etrur Albani said the milestone demonstrated that the company's technology could compete in premium residential markets while maintaining the speed and consistency central to its proposition.