Citra Living and Utopi form strategic agreement

The mutual agreement between Citra Living and Utopi will enhance both business’ commitment to the UK multifamily landscape.

Citra Living and Utopi form a strategic ESG agreement to be initially rolled out to 92 homes | BTR News

Lloyds Banking Group owned Citra Living and ESG technology specialist Utopi have announced a strategic agreement centred around Citra’s growing housing portfolio in the UK.

The agreement will see Utopi’s data and technology solutions integrated into Citra’s schemes across the UK. There will be an initial roll-out to 92 homes across four locations by summer 2024.

This showcases Citra’s commitment to being an industry leader in green living. Utopi’s solutions will enable Citra to use real time, granular data from its properties to assess ongoing performance, to monitor and report on ESG regulations, and will be fed back to residents to help them minimise and control energy consumption and carbon emissions.

“This strategic agreement with Utopi will both help reduce energy costs for our customers and help us progress towards our net zero carbon ambitions. 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.”

Craig Luttman, Chief Strategy Officer, Citra Living

The agreement will allow Citra to not only continue to achieve the highest standards of sustainable real estate, but also enhance the operational efficiency of its homes and help it achieve its net zero carbon targets.

Alongside the sustainability focus, the agreement will also support Citra’s goal of offering more affordable housing to the UK rental market, by helping ease the financial burden of utility costs on its customers.

“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. 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.”

Jonathan Burridge, CEO and Co-Founder, Utopi