UK-based Planet Smart City inks pact to acquire architectural, engineering design co Politecna Europa

UK-based affordable housing and advanced proptech solutions major Planet Smart City has entered into an agreement to acquire Politecna Europa, a company specialising in architectural and engineering design.
The specialist knowledge of both companies will be applied to create intelligent neighbourhoods and homes by increasing their efficiency and maximizing the user experience of residents across its projects world over including India.

Planet Idea, Planet Smart City’s Competence Centre, and Politecna Europa are already involved in activities oriented in this direction. Planet Idea designs innovative solutions in fields including technological systems, planning and architecture, social innovation, and the environment.

These solutions are integrated into real estate development projects that Planet Smart City carries out in Italy, India, Brazil, and the United States, as well as supporting consultancy services to third party real estate developers.

“Planet Smart City and Politecna Europa have the same vision of real estate development aimed at the joint application of proptech together with the principles of ESG. The integration of our respective skills and professionalism will lead to the establishment of an interdisciplinary group that will increase our ability to generate and implement ground breaking ideas,” said Giovanni Savio, CEO of Planet Smart City.

The acquisition will help in elevating the overall livability quotient in the projects developed by Planet Smart City where the brand has a joint venture with Kolte-Patil Developers to develop 15,000 housing units

The innovative Proptech solutions curated in Turin will be utilised to develop a first-of-its-kind Innovation Hub in projects Three Jewels and Universe at Life Repubilc in Pune.

Planet Idea and Politecna Europa are already working on joint projects around the world.

After the two companies are fully integrated, an entity will be established including 350 professionals. A prime 4,000 square meter building has been chosen as the headquarters in Turin and, from October, will become an international centre of technological innovation and ESG in real estate.

Politecna Europa, founded by Luca Massimo Giacosa and Pietro Putetto, specialises in project management activities and is at the forefront of architectural, structural, and industrial design in the civil and infrastructure sector. The company is involved in innovative activities across Italy, France, Switzerland, and Oman, leveraging a team of over 100 engineers and architects.

Since its establishment in 2015, Planet Smart City, which specialises in large-scale projects aimed at creating smart neighbourhoods and affordable homes, has raised more than 160 million euros, from 390 institutional and private investors.

Apart from Maharashtra and Karnataka, the company is working on identifying other opportunities for co-development of affordable housing projects. This is aimed at creating a platform to help Planet Smart City emerge as a global leader in the affordable segment of housing by 2030 with more than 45,000 homes sold each year.