Citra Living and Utopi Partner for Sustainable Housing
Lloyds Banking Group's Citra Living and ESG technology specialist Utopi have joined forces to advance sustainable housing in the UK.
This strategic agreement integrates Utopi's data and technology solutions into Citra's growing housing portfolio.
The initial phase will see Utopi's technology implemented in 92 homes across four locations by summer 2024. This move underscores Citra's commitment to leading the industry in green living.
Utopi's solutions provide Citra with real-time, detailed data from its properties. This data will be used to:
Assess ongoing performance: Citra can monitor the efficiency of its homes and identify areas for improvement.
Track and report on ESG regulations: The data will help Citra comply with environmental, social, and governance (ESG) standards.
Empower residents: Residents will receive feedback on their energy consumption and carbon emissions, enabling them to make informed choices to reduce their environmental impact.
"This strategic agreement with Utopi will both help reduce energy costs for our customers and help us progress towards our net zero carbon ambitions," said Craig Luttman, Chief Strategy Officer at Citra Living. "The ability to closely monitor the performance of our homes across the UK and to use these insights will drive positive changes for our customers and improve the energy efficiency of our growing portfolio. This is the start of an exciting partnership for Citra Living."
The agreement not only allows Citra to maintain its position as a leader in sustainable real estate but also improves the operational efficiency of its homes and supports its net zero carbon ambitions.
Furthermore, the partnership aligns with Citra's goal of making affordable housing more accessible in the UK rental market by helping residents manage their utility costs more effectively.
"This strategic agreement is a great sign of the impact Utopi can make, not just on increasing NOI but also ensuring investors, asset managers and operators adhere to ESG standards and regulations," said Jonathan Burridge, CEO and Co-Founder of Utopi. "Citra Living has an exceptional name in the market, and we’re proud to be aligning our businesses to expand further into the multifamily sector. A sign of good things to come, and we’re excited to be on this journey with them."
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Source: BTR News
