Citra To Expand Into the United States
To date, Citra has secured $20 million in funding to develop and roll out its building technology. This year, Citra is raising additional funds in the range of $5 million to accelerate its commercial expansion into the United States market. The majority of this amount will be used to fund research and development to further improve their industry-leading sustainable housing design, energy-efficient construction technology, net-zero architecture, and innovative green housing systems. A sizable portion of the funds will be used to finance several local pilot projects, similar to their revolutionary eState, CentalBlue located in Blue Downs, Cape Town.
The US is currently facing a pressing need for over 7 million homes. Fortunately, the latest round of funding will provide Citra with an ideal opportunity to contribute towards resolving this issue with their affordable and sustainable innovative green housing systems and bring their eStates to a wider market.
CentralBlue is a sustainable low-cost housing development that played a key role in convincing foreign investors that Citra has the ability and track record to alleviate the current housing crises in the US.
Citra’s Sustainable Homes Lead To Sustainable Success
This investment is the latest success in a series of recent triumphs. Since its launch, Citra has used its unique housing designs and construction technology to build over 50 innovative green houses. They aim to build 120 homes in 2023 and 250 houses in 2024. By 2025, they will look to double their numbers and build 600 in homes Cape Town alone. Their order book for Cape Town is currently filled for the next 10 years.
“Citra technology surpasses even the latest 3D printing approaches in quality and cost-efficiency” – Joel Baur – Citra Co-Founder and CEO
With plans for over 4,000 South African residential units currently in the pipeline, Citra is perfectly positioned to scale up its operations as they expand into the United States and other international markets.
Citra’s Live Different Philosophy To Go Global
The United States is just the first of many countries where Citra is looking to transform the building industry through its innovative green housing technology. Currently, over a billion people are living in shacks, informal settlements, and inhumane conditions across the world. Citra aims to transform the building industry through its energy-efficient technology, unique sustainable designs, and construction systems.
“Our aim is to change the global building industry through innovation. We offer our clients houses with a totally different experience. We ensure substantially lower emissions and energy consumption throughout the lifecycle, and lower construction costs”, Joel Baur – Citra Co-Founder and CEO
After expanding into the United States, Citra has bold plans to explore further opportunities in Ukraine, where they hope to alleviate some of the devastation caused to the country’s infrastructure, and India. Citra was born out of the destruction caused bythe 2010 earthquake in Haiti that left millions homeless and inspired Andreas Graf, Co-Founder of Citra, to develop their fast, reliable, and cost-effective sustainable construction technology.
Click for more information on Citra and details on their plans to expand in the United States.