Basque developer Kategora has announced an investment of €36 million to develop a new hotel project in the Málaga municipality of Rincón de la Victoria.
The complex, called Kategora Malak, will open in 2029 and will offer 120 one- and two-bedroom apartments. The units will range from 55 to 93 m², with terraces and hotel services.
The apartments have gone on sale from €278,000, according to the listing published on idealista. According to the developer’s calculations, they offer an estimated net yield of 6%.
Kategora explains that the proposal follows its own investment model: the buyer acquires an apartment outright and leaves its operation and maintenance to the Kora Living operator, which will handle the full management of the establishment under a hotel licence.
The company already has another project in Málaga: flexliving accommodation in Los Álamos (Torremolinos), which has recorded average occupancy above 90% since it opened last March.
Agustín Orcasitas, the company’s Chief Commercial Officer, points out that the appeal of an investment also depends on the fundamentals behind its returns, including the choice of destination, its ability to attract demand and the quality of the accommodation.
For the investor, the formula consists of buying an apartment outright and delegating both its management and maintenance, so that it becomes part of the joint operation of the complex.
What the project will look like
The asset will be built on a plot zoned for tertiary use, designed from the outset for hotel activity. The apartments will be integrated into a single hotel establishment, whose full operation and management will be handled by the company’s living brand.
Set on a hillside facing the Mediterranean, the project will combine hotel services with communal areas for relaxation and wellbeing, including a swimming pool, gardens, a fitness area and social spaces.
The complex will have 13,600 m² of built area and around 2,500 m² of communal space, split between 590 m² indoors and 1,900 m² outdoors. These will include a lobby, coworking, a gastro txoko (a traditional Basque space for gathering and enjoying food), a yoga area and a sauna.
The architectural design is by the Málaga studio HCP. HofmanDujardin is responsible for the interior design and The Garden by Chio for the landscaping.
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Source: idealista/news