Planet Smart City to raise 60 million euros from global investors

24 Feb 2022 CW Team

Planet Smart City, a UK-based affordable housing developer, is looking to raise more than 60 million euros to help accelerate the company's business growth plans in key markets like India.

The fundraising aims at pushing the implementation of their business plan including the launch of about 54 smart projects in the span of the next three years which includes a total of about 40,000 housing units.

Planet Holdings is headquartered in London and operates businesses under the Planet Smart City brand and has already invested in an approximately 1.5 million sq ft real estate project which is being developed by the Kolte-Patil Developers in Kondhwa locality, Pune. It is making plans to co-develop over 15,000 housing units with the Kolte-Patil Developers in India in the metro cities such as Mumbai, Pune, and Bengaluru.

Planet Smart City Co-founder and Global CEO, Giovanni Savio said the design of new large-scale residential real estate development projects is characterised by a multidisciplinary approach including digitalisation of services, technological innovation, and promotion of sociality. They integrate the concepts in an innovative as well as scalable offer for the purpose of affordable housing.

Currently, the companies are developing their first project in the Hinjewadi locality, Pune- Universe at the Life Republic. The company has over 20 smart solutions planned for the Pune township project in India and aims for further expansion of the association.

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Also read: Kolte-Patil Developers profit declines 76% to Rs 5.37 cr in Q3 FY22

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