Citra

About Citra

Citra operates as a design, construction, and property development firm with a strategic focus on addressing housing shortages through sustainable and technologically advanced methods. The company was founded in 2015 by Joel Baur, Andreas Graf, and Benno Büeler, who combined their respective expertise in architecture, humanitarian aid, and finance to establish the venture. Baur, with a background in architecture and ethical building, moved to Cape Town to lead operations on the ground. Graf's career in humanitarian aid and agricultural engineering fueled the mission for robust disaster-relief housing, while Büeler, holding a PhD in Mathematics with a focus on carbon emission trading, brought financial and environmental viability expertise to the forefront.

The business model integrates property development, design, and construction, leveraging a proprietary building technology. This technology, which is certified by Agrément South Africa, utilizes parametric design and high-precision CNC machines to manufacture components. The core materials include Expanded Polystyrene (EPS) for a lightweight and non-toxic core, and Magnesium Oxide (MgO) boards for the structural frame, which reduces the need for steel. This system allows for the creation of homes with a 50% reduction in carbon emissions over their lifecycle and walls that offer significantly better thermal insulation than conventional methods. Citra's primary market is South Africa, where it targets the middle-income and affordable housing segments by developing large-scale, mixed-use residential estates. Revenue is generated through the sale of residential units and the licensing of its building technology.

Citra's product offerings include various types of homes, such as "eHomes" and "ePods," which are designed to be both affordable and sustainable. A key project, CentralBlue in Cape Town, showcases this technology at scale, with plans for 1,800 residential units on a 42-hectare property. The company has secured land for approximately 4,000 residential units in South Africa and has completed over 100 homes. Having secured USD 20 million in a 2023 funding round, Citra is planning to expand its commercial operations into the United States and has established subsidiaries in the US and Ukraine.