Pan-European real estate investment and development group, Eurofund Group, has launched a new senior living platform. Luana is an independent senior living platform that will offer professionally managed, purpose-built accommodation set within an amenity rich environment that enhances the quality of life of its residents.
Having already secured two sites on Spain’s Costa Del Sol, Eurofund Group is seeking further development opportunities for the expansion of the Luana concept throughout Spain.
These initial sites in Estepona and Mijas will offer 280 units between them, along with amenities including gardens and allotments, club houses with leisure areas, pools, SPA’s, fitness zones, café/bars, games rooms, restaurants, theatres/ dance halls, art rooms, libraries and event spaces. Luana Senior Living communities will be supported by dedicated on-site teams who will manage residents’ social, wellbeing and health needs.
With the EU facing a rapidly ageing demographic (equating to 20% of its total population being over the age of 65 as at 2022), Spain has emerged as a retirement hotspot. Nearly 500,000 foreign nationals over the age of 65 are resident in Spain’s coastal areas, with this forecast to grow by some 25% over the next five years. This is further exacerbated by growth in Spain’s domestic retiree market, which currently represents around 20% of its total population.
This growing senior population, alongside a host of other factors including a temperate climate, access to quality healthcare, lack of existing product and a plentiful supply of land, makes Spain is a natural destination for a new senior living concept.
Dan Sandford CEO of Eurofund Living said: “Spain’s ageing demographics, along with the relative immaturity of its senior living market, presents a golden opportunity to deliver a bespoke new platform that meets the aspirations of this growing market.
We are seeking to rapidly deliver new stock to meet rising demand and are targeting a portfolio of more than 280 apartments by 2028.”
The launch of Luana is an expansion of Eurofund’s existing living division, which also includes co-living platform, Tribu. Its first development of 63 units in London is fully occupied and has achived record rental levels for its market.
Eurofund Group is an asset management, investment and development group operating in Spain, Portugal, the UK, Italy, and Germany. It is a European leader in the development, implementation and management of unique destinations.
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