Eurofund Group launches into the business of senior living with the launch of Luana, the new brand under which is going to invest 110 million euros for the development of several projects in Spain.
The first two Luana projects will be located in privileged areas of the Costa del Sol, in El Paraíso (Estepona) and Miraflores (Mijas), and will open their doors to the public expectedly in 2027. The first of them, Luana El Paraíso, located in El Paraíso, Estepona, will have 129 apartmentsmainly one and two bedrooms, spread over an area of more than 17,000 square meters. For its part, Luana Miraflores, located in Mijas, will have 157 homes, also up to two rooms and will be located in a space of more than 20,000 square meters.
“Spain’s aging demographic, together with the relative immaturity of its senior housing market, as well as the growing interest of retired people in seeking locations of this type, represent an excellent opportunity to develop residential projects. senior living in the country,” explains Dan Sandford, CEO of Eurofund Living, who assures that “At Eurofund Group we continue working and looking for new opportunities to develop projects like this”.
The launch of Luana is part of the division of Living room of Eurofund Group. This division was born in 2022, when the manager acquired a building in London to convert it into Tribu, its first coliving for students and young professionals that welcomed its first residents two years ago and currently has 100% occupancy in its facilities. With Luana, the company aims at a more senior profile who seeks to enjoy tranquility and independence, while maintaining an active lifestyle.
What is ‘senior living’?
Luana is a concept designed to offer exclusive rental housing resorts to people over 65 years old who want to fully enjoy the tranquility and comfort of an active, independent lifestyle, with all services and amenities included.
These complexes, tailor-made for their residents, They will have the support of specialized teams that will manage all health and well-being needs in a professional manner for users. Some of these services will include maintenance, security, cleaning, haute cuisine restoration, spa, beauty salon, physiotherapy services, among others. All of this, with a Mediterranean style that defines Luana, whose priority is to offer a better quality of life for users.
Spain, a key country for ‘Senior Living’
According to Eurostat data, in 2022 more than a fifth of the EU population had 65 years or older; a figure that will increase by 43% until reaching almost 130 million retirees in 2050. In this context of rapid demographic aging, Spain has become the main retirement destination in Europeand it is estimated that almost 500,000 foreigners over 65 years of age reside in the Spanish coastal areas, (a number that is expected to increase by around 25% in the next five years). “All this, together with other factors such as climate, access to quality medical care, the lack of this type of projects and an abundant supply of land, make Spain a key place for the development of Senior Living projects. “explains the company.
Furthermore, a recent La Caixa survey indicates that more than 85% of the Spanish population over 60 years of age feels lonely, which can cause 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 on a daily basis,” highlights Eurofund.
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