Sharing Co seeks to increase its business tenfold in the next five years. The short- and medium-stay accommodation manager plans to invest 300 million euros for coliving properties in Madrid and Malaga, according to El Confidencial. Since Arco Galán and Jaime Bello decided to open the company in 2021, the company has invested thirty million euros to date.

Specifically, Sharing Co has four buildings in Madrid and two in Malaga. One of them is located in the heart of the capital, in Cea Bermudez street, through a project that will seek to create before 2026 a total of 28 coliving rooms, six individual studios and seven apartments of between one and three rooms. In the case of Malaga, the project to remodel and segregate a space on Paseo de la Farola, transforming the existing office into three studios designed for tourist rental, stands out.

“Sharing Co manages 200 apartments, although only 10% are owned by the company”.

Today, the company manages 200 apartments, although only 10% are owned by the company. In statements to the same media, Sharing Co assures that it plans to triple this figure over the next year and a half, reaching 600 units. Another of its objectives is to divest itself of individual units and concentrate on buildings.

The coliving market in Spain is expected to increase the price of rooms by almost 10% over the next year, according to the Real Estate Market Report, News and Prospects 2023, prepared jointly by the consulting firm Forcadell and the University of Barcelona (UB). The main causes that would explain this growth are the rise in interest rates of the European Central Bank (ECB) and the reduction of new bank credit.

Malaga is the city with the highest occupancy of flex workspaces in Spain, with 92%, according to data from Cbre. In the second quarter of 2023 alone, 290 jobs were contracted, and the Andalusian city has 580 flex workspaces and a stock of 5,8000 square meters. The consultancy highlighted in its report that the city has positioned itself as one of the main expansion points on a national scale for the largest operators in the market.