IMMO, A UK Based Proptech Platform To Spend More Than £1bn For Retrofitting Homes.

UK based real estate investment platform, IMMO recently announced its massive £1billion plan to buy and subsequently retrofit nearly 3,000 private rented sector homes across the UK. The company’s plan is in line with the government’s minimum energy performance of homes bill. The company uses an AI based platform integrated with other novel data technologies to locate and identify properties that are energy inefficient and further provide solutions to help build a sustainable real estate ecosystem.

IMMO is on the way to acquire 3,000 properties from private landlords in the UK by the end of 2025 and to develop them as per the Performance Certificate C standard. The company has already raised more than £2 billion with a foresight of retrofitting 10,000 homes down the line and assisting the government to be ahead of their net zero target.

The company’s head of sustainability, Anna Clare Harper said, “The built environment is one of the worst offenders when it comes to carbon emissions. Without a programme of mass retrofitting, the UK will not be able to meet its net-zero targets. Public investment and regulations play an important role in bringing Britain’s housing up to modern energy efficiency standards.”

“The private sector plays an important role. Institutional investors such as pension funds and insurers are increasingly on the hunt for assets that produce reliable, long-term income streams to match their liabilities in a way that is socially and environmentally responsible.” She added.

IMMO has future plans to secure additional capital over its already raised $2.5bn in order to fulfil its professional commitments.The funds would be utilised to modernise private rented properties, enabling them to be self sufficient and sustainable.