The firm specializing in short- and medium-term accommodations plans to allocate €300 million for ‘coliving’ properties in Madrid and Malaga, as reported by El Confidencial. Since the company was opened in 2021 by Arco Galán and Jaime Bello, thirty million euros have been invested to date.

Although the company currently manages 200 apartments, only 10% are in its ownership. According to statements to El Confidencial, Sharing Co has a goal of tripling this figure in the next year and a half, reaching 600 units.

A 10% increase in the price of rooms in the ‘coliving’ market in Spain is anticipated over the next year, according to the Real Estate Market Report. This growth is mainly attributed to the rise in interest rates by the European Central Bank (ECB) and the reduction in new bank credit.

Malaga stands out as the city with the highest occupancy of flexible workspaces in all of Spain, reaching 92%, according to data from Cbre. In the second quarter of 2023 alone, 290 jobs were contracted in the city, which has 580 flexible workspaces and a stock of 5,800 square meters. The consultancy highlights that Malaga has become one of the main points of expansion at national level for the largest operators in the market.

Specifically, Sharing Co has four buildings in Madrid and two in Malaga. One of them, located in the heart of the capital on Cea Bermudez street, has a project to create 28 ‘coliving’ rooms, six individual studios and seven one- to three-bedroom apartments by 2026. In Malaga, the project to remodel and segregate a space on Paseo de la Farola, transforming the current office into three studios for tourist rental, stands out.