Planet Smart City announces plans for more than 50 smart projects in three years

Planet Smart City is seeking to raise €60m capital to accelerate business plans to build smart affordable housing and neighbourhoods, which includes more than 50 smart projects over the next three years, totalling some 40,000 housing units.

Since its establishment in 2015, the company has raised more than €160m from 390 institutional and private investors. It reports that in 2021, the group recorded revenues of approximately $105m (€93m) doubling the 2020 figure of $52m.

Inclusivity and sustainability

Planet Smart City’s mission is to combine infrastructural, technological and social innovation to create communities that respect local cultures and support inclusivity and sustainability.

The model has been proven in Brazil where four projects are underway and the first families are moving into its neighbourhoods: Smart City Laguna; Smart City Natal; Smart City Aquiraz; and Viva!Smart.

In 2020, the business expanded into India through a partnership with Kolte Patil. In Italy, the company collaborates with leading real estate developers in numerous smart social housing projects.

Planet’s approach to community building is aligned with the high environmental and social sustainability standards which can be measured through its proprietary digital platform, the Planet App, which is provided to all residents for free.

The app has 70 per cent adoption rate across its projects and aims to provide residents with increased convenience, helps them save money, and live more sustainably.

The group’s approach also aims to transform the traditional real estate business model whereby revenues come exclusively from the sale of properties, rather than deriving money via its digital business unit from the management of services offered to the community and data analytics. Planet said this also enables it to continue to reinvest in its neighbourhoods for the long-term.

“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,” said Giovanni Savio, co-founder and global CEO of Planet Smart City.

He added: “Our unique approach is also increasingly recognised by sector players who are looking for Planet to involve us in their projects and create together first smart neighbourhoods in Dallas.”