A Basque developer has announced a €36million hotel apartment project in Rincon de la Victoria.
Named Kategora Malak, it is geared towards investors and has 120 units on sale from €278,000.
It is scheduled to open in 2029 on a Mediterranean-facing hillside.
The development will offer one- and two-bedroom apartments ranging from 55 to 93 square metres, with terraces and access to hotel services.
Under Kategora’s investment model, buyers own an individual apartment while handing its operation and maintenance to Kora Living, which will manage the entire complex under a hotel licence.
The developer estimates a net rental yield of 6%.
The apartments will form part of a single hotel establishment on land designated for hotel use, rather than a conventional residential development.
Facilities will include a swimming pool, gardens, fitness area, yoga space and sauna, alongside a lobby, coworking facilities and communal meeting areas.
A ‘gastro txoko’ – a space inspired by the Basque tradition of gathering to cook and eat together – is also planned.
The complex will have 13,600 square metres of built space and approximately 2,500 square metres of communal areas, including 590 square metres indoors and 1,900 outdoors.
Malaga architecture practice HCP is responsible for the building design, with interiors by HofmanDujardin and landscaping by The Garden by Chio.
Kategora already operates a ‘flexliving’ development in Los Alamos, Torremolinos. The company says that property has achieved average occupancy above 90% since opening in March.
