Affordable housing company Planet Smart City has launched a €60m capital raise to accelerate the Group’s ambitious business plans
Since it was established in 2015, Planet Smart City has raised more than €160m, from 390 institutional and private investors.
In 2021, the Group recorded revenues of approximately $105m dollars (€93m), doubling the result of 2020 which had been $52m dollars.
The €60m capital raise is aimed at accelerating the company’s business plan that includes the launch of approximately 54 smart projects over the next three years (a total of over 40,000 housing units).
Planet’s projects are aimed at ‘revolutionising’ how residents live in urban environments.
For example, in Brazil families are moving to their neighbourhoods, and this has created a unique proposition compared with the rest of the real estate market, particularly in the affordable market segment.
The projects are aligned to the highest environmental and social sustainability standards which can be measured through its proprietary digital platform, the Planet App.
This enables services to be accessed through digital solutions which provide increased convenience, and helps residents save money and live more sustainably.
‘Solutions that promote sociality’
Giovanni Savio, co-founder and Global CEO of Planet Smart City commented: “The design of new large-scale residential real estate developments is increasingly characterised by a multidisciplinary approach: technological innovation, digitalisation of services, and solutions that promote sociality.
“Planet Smart City is the only global company that integrates these concepts into an innovative and scalable offer for affordable housing. Our unique approach is also increasingly recognized by sector players who are looking for Planet to involve us in their projects and create together first smart neighbourhoods in Dallas.”
