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Planet Smart City signs exclusive agreement to acquire Politecna Europa

India, June 2022 – Planet Smart City, a global leader in smart affordable housing and advanced Proptech solutions, has signed an exclusive agreement to acquire Politecna Europa, a company specialising in architectural and engineering design. The agreement reinforces Planet Smart City’s position as an international business with expertise in the application of Proptech and Environment Social Governance (ESG) principles to large-scale projects. 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.

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 & 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 United States, as well as supporting consultancy services to third party real estate developers. Planet Idea’s interdisciplinary team already includes architects, engineers, and urban planners, as well as digital transformation and social innovation specialists, who all work together at the Competence Centre in Turin.

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 civil and infrastructure sector. The company is involved in highly innovative activities across Italy, France, Switzerland, and Oman, leveraging a team of over 100 engineers and architects.

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 prestigious 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.

Planet Smart City will exercise exclusivity aimed at acquisition upon completion of due diligence within the coming weeks.

Giovanni Savio, CEO of Planet Smart City, said, “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.”

The acquisition will help in elevating the overall liveability quotient in the projects developed by Planet Smart City, including India, where the brand has a Joint Venture with Kolte-Patil Developers Limited to develop 15000 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, India.

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