- Luana will offer exclusive 1 and 2 bedroom rental resorts to people over 65 who want to enjoy an active, independent lifestyle with numerous advantages and comforts on a daily basis.
- The first projects will be located in Estepona and Mijas and will include more than 280 homes and more than 5,200 square meters of common areas and another 5,000 of garden areas
- Luana will have the support of specialized teams that will manage all the well-being and health needs of the residents.
Madrid, November 21, 2024 – Eurofund Group, an international real estate investment, development and management group with numerous successful projects throughout Europe, will invest 110 millions of euros for the launch of ‘Luana’, the new brand under which the company is developing several ‘senior living ‘ projects in Spain.
Luana’s first two projects will be located in prime areas of the Costa del Sol (El Paraíso, Estepona and Miraflores, Mijas) and are expected to open to the public in 2027. The first, ‘Luana El Paraíso’, located in El Paraíso, Estepona, will feature 129 apartments, primarily one- and two-bedroom units, spread over more than 17,000 square meters. Meanwhile, ‘Luana Miraflores’, situated in Mijas, will offer 157 homes, also with up to two bedrooms, on a site of more than 20,000 square meters.
Dan Sandford, CEO of Eurofund Living : “Spain’s aging population, coupled with the relative immaturity of its senior living market, and the growing interest among retirees in finding such locations, presents an excellent opportunity to develop senior living projects in the country. At Eurofund Group, we continue to work and seek new opportunities to develop projects like this.”
An exclusive concept for seniors
Luana is a concept designed to offer exclusive rental housing resorts to people over 65 who wish to fully enjoy the peace and comfort of an active, independent lifestyle, with all services and amenities included.
These tailor-made complexes will be supported by specialized teams who will professionally manage all of the residents’ health and wellness needs. Some of these services will include maintenance, security, cleaning, fine dining, a spa, a beauty salon, and physiotherapy , among others. All of this will be offered in the Mediterranean style that defines Luana, whose priority is to provide a better quality of life for its residents.
Spain, a key country for the ‘Senior Living ‘ sector
According to Eurostat data, in 2022 more than a fifth of the EU population was 65 or older; a figure that will increase by 43% to reach almost 130 million retirees by 2050. In this context of rapid demographic aging, Spain has become the leading retirement destination in Europe, and it is estimated that almost 500,000 foreigners over 65 reside in Spanish coastal areas (a number that is expected to increase by around 25% in the next five years). All of this, combined with other factors such as the climate, access to quality healthcare, the lack of such projects, and an abundant supply of land, makes Spain a key location for the development of senior living projects .
Furthermore, a recent survey by La Caixa indicates that over 85% of the Spanish population over 60 feels lonely, which can lead to health problems for a growing number of older people each year. In this context, projects like Luana are essential to combat this problem, providing a sense of community and offering residents the opportunity to interact daily.
Living , the new segment with which Eurofund Group expanded its business areas in 2022
The launch of Luana falls under Eurofund Group’s ‘ Living ‘ division . This division was established in 2022 when Eurofund Group acquired a building in London to transform it into Tribu, its first coliving project for students and young professionals. Tribu welcomed its first residents two years ago and is currently at 100% occupancy. With Luana, the company is targeting a more senior demographic seeking tranquility and independence while maintaining an active lifestyle in the heart of the Mediterranean.
About Eurofund Group
Eurofund Group is a real estate investment, development, and management group operating in Spain, Portugal, the United Kingdom, Germany, and Italy, with over 30 years of market experience. It has several business lines: Eurofund Retail , Eurofund Logistics (ELCP), and Living , which already operates as Tribu, a coliving space located in London. It soon plans to invest in Senior Living projects .
Some of the company’s most notable projects include Puerto Venecia in Zaragoza, awarded Best Shopping Centre in the World at MAPIC 2013; the acquisition of UBBO (formerly Dolce Vita Tejo) in Lisbon, which Eurofund Group has transformed into Portugal’s first shopping resort; and the acquisition of Silverburn , the leading shopping centre in Glasgow, UK. Most recently, in March 2024, the joint venture between Eurofund Group and Henderson Park acquired Islazul , Madrid’s largest shopping centre and a pioneer in sustainability.
In 2022, Eurofund Group entered the Italian market with an agreement to acquire Parma Retail and transform it into Parma Promenade , an asset it subsequently purchased this year. In July 2023, Eurofund Group continued its geographic expansion with the acquisition of Rhein Ruhr Zentrum in Müllheim , Germany, through a joint venture with Signal Capital Partners .
Contact
Burson
Clara Arroyo Clara.arroyo@bursonglobal.com
664 364 825
Eurofund Group
Sara Pradas spradas@eurofundgroup.com
Cristina Moncada cmoncada@eurofundgroup.com
648 179 967
