Planet Smart City: one place, a thousand opportunities

In 2014, the McKinsey Global Institute estimated that by 2025, 440 million households – affecting 1.6 billion people – could be living in unsafe or inadequate housing, or struggling with housing costs. A stark reality, but also an opportunity to make a difference. “We want to create the cities of tomorrow by changing the paradigm and standards of affordable housing,” says Gianni Savio, co-founder and CEO of Planet Smart City, a company dedicated to the development of sustainable and smart large residential districts.

INNOVATIVE HOUSING SOLUTIONS

Planet Smart City is tackling the global housing crisis with a unique approach. Unlike traditional developers, who move on after selling, Planet Smart City remains involved in the community. They build shared spaces, managed by community professionals, with a focus on fostering social innovation. To support this, they’ve developed the ‘Planet App,’ which allows citizens to manage 200 different smart solutions and digital services from their phone and stay informed about local events, often held in the shared spaces, or ‘innovation hubs’ which are the pulsing heart of Planet social intervention model.

The company mainly focuses on countries with growing population and high urban migration, such as India or Brazil. Their neighbourhoods are designed for low-income families unable to afford housing on the free market. "We aim to produce affordable housing and empower people with technology and knowledge that can help them climb the social ladder," explains Gianni. “After 9 to 10 months, 90% of social initiatives are driven by residents who can autonomously solve problems and support the creation of thriving communities, where real impact is measured by Planet.”

LEARNING FROM EUROPE’S PAST

Planet Smart City competence center is headquartered in Turin. They draw on Europe’s past experience and current knowledge base to address similar challenges elsewhere today. “In the 1950s, European countries faced housing crises due to urban overpopulation and often fostered communities within these neighbourhoods: European developers and policy makers have matured a large experience within social housing districts” he explains. Today, Planet Smart City draws on that experience to improve housing outside of Europe. Nevertheless, they remain active also on the old continent, providing advisory services on urban regeneration, including for instance a €500 million project to repurpose the Ex Macello-district in Milan and transform it into the city’s first carbon-negative area.

Planet Smart City’s rapid growth would not have been possible without strategic funding.

Oltre Ventures, supported by the EIF, is amongst the equity investors that have supported Planet to scale-up. These investments enabled the company to pursue ambitious projects that combine sustainability, digital technology, impact and housing development at attainable prices – something not traditionally seen in the real estate sector.

“I’m addicted to my job because it directly impacts people’s lives,” smiles Gianni. “It fills me with pride for what we’re building.” With its innovative model, Planet Smart City is setting new standards for sustainable urban development, accelerating real estate innovation, and fostering a brighter future for communities.

Location: Turin

Financial Intermediary: Oltre Ventures

SME:  Planet Smart City

Sector: affordable housing

Number of employees: 200

Financing purpose: scale-up

EU financing: SIA