Eurofund Group, an international investment, development, and real estate management group with numerous successful projects across Europe, will invest €110 million in the launch of Luana, the new brand under which the company is developing several Senior Living projects in Spain.
The first two Luana 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 Estepona, will feature 129 apartments—mainly one- and two-bedroom units—spread across more than 17,000 square meters. Meanwhile, Luana Miraflores, in Mijas, will offer 157 homes of up to two bedrooms on a site exceeding 20,000 square meters.
Dan Sandford, CEO of Eurofund Living, commented: “Spain’s demographic ageing, combined with the relative immaturity of its senior housing market and the growing interest among retirees in seeking this type of accommodation, provides an excellent opportunity to develop Senior Living projects in the country. At Eurofund Group, we continue to explore and pursue new opportunities to develop projects like this.”
An exclusive concept for seniors
Luana is designed to provide exclusive rental residential resorts for people over 65 who wish to fully enjoy the peace and comfort of an active, independent lifestyle with all services and amenities included.
These complexes, tailored to residents’ needs, will be supported by specialized teams managing health and wellness services in a professional manner. Services will include maintenance, security, housekeeping, fine dining, spa, beauty salon, physiotherapy, and more. All of this will be offered in a Mediterranean-inspired setting that defines Luana, whose priority is to ensure a better quality of life for its residents.
Spain, a key country for Senior Living
According to Eurostat, in 2022 more than one-fifth of the EU population was aged 65 or over, a figure set to rise by 43% to nearly 130 million retirees by 2050. Against this backdrop of rapid demographic ageing, Spain has become the leading retirement destination in Europe. Nearly 500,000 foreign residents over the age of 65 currently live in Spain’s coastal areas—a number expected to grow by around 25% over the next five years. Together with factors such as climate, access to high-quality healthcare, the scarcity of existing projects, and the availability of land, Spain is uniquely positioned for the development of Senior Living initiatives.
In addition, a recent survey by La Caixa indicates that more than 85% of the Spanish population over 60 feels lonely—an issue that can lead to growing health problems among seniors each year. In this context, projects like Luana are essential in tackling the challenge by fostering a sense of community and giving residents the opportunity to interact daily.
Living, the new business segment launched by Eurofund Group in 2022
The launch of Luana is part of Eurofund Group’s Living division. This division was created in 2022, when Eurofund acquired a building in London to create Tribu, its first coliving project for students and young professionals. Tribu welcomed its first residents two years ago and currently operates at 100% occupancy. With Luana, the company is now targeting a more senior demographic—those seeking tranquility and independence while maintaining an active lifestyle in the heart of the Mediterranean.
More information: www.luanaseniorliving.com
