Planet Group Ends 2018 With a New Round of Capital Injection Consisting of €34 Million From Equity Investors

LONDON, January 16, 2019 /PRNewswire/ --

The international player, leader in Smart Affordable Housing, plans to launch eight smart cities in the next 24 months  

Planet Holding Board of Directors have just announced a capital increase of €34m raised from 193 new and existing shareholders. This capital increase, which took place at the end of 2018, follows the first round of €10m capital injection, secured in September of the same year.

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The shareholders have endorsed an ambitious plan which aims to launch eight new smart cities in the next 24 months. Three will be launched in Brazil, where Planet is already building Laguna Smart City - the first smart city for affordable housing in the world with 6,500 housing units. Five smart cities will be planned in countries characterized by a large affordable housing deficit.

Planet's unique value proposition tackles affordability, one of the most pressing global issues in real estate, and responds to the current demand for sustainable and technological solutions, integrating eco-sustainable technologies, digital infrastructures and social innovation into large projects, while offering a stream of dedicated services through a District App. The value-added services make the life of the smart community citizens easier, going well beyond traditional building and construction operations.

Gianni Savio, the Group CEO, commented: "It's impressive to see how our business model has been understood so quickly by such a large number of institutional and non-institutional investors and how our original group of investors has been enriched thanks to new ones coming from the international financial and industrial community. I'm also particularly glad that 22 of our employees invested their own money in the company, demonstrating their commitment with our vision. Along with the projects already launching in Brazil, we are analyzing with great interest the Indian market where the affordable housing deficit tops 25 million units."

Stefano Buono, Chairman of Planet Holding Board of Directors, declared: "With this capital injection, the number of Planet Holding shareholders reaches 234, following a model - which is dear to me - of a private company already operating as a public one. The challenge now is to rapidly broaden the executive committee who will lead the Group towards a quick expansion, continuously improving and replicating its unique business format in different countries. I'm convinced that the services offered through our digital platform and the District App will be the major driver of development for the Group. We will invest heavily in that."