Spain: Developer Group Marjal, one of the pioneers of coliving in Spain, is to convert an existing asset in Bilbao into a 62-unit coliving property.
The building is in the Ibarrekolanda neighbourhood and will consist of 62 studios, marketed under the company’s Suites brand.
This project, still in the licensing process, is not the first coliving property in Bilbao, but the first by a major developer. It is aimed at “young professionals looking for a residential environment consistent with their work needs”.
Each tenant will have a private space and will be able to access common areas such as kitchens, coworking, gym and laundry, creating “an environment balanced between privacy and community”.
Marjal Group opened its first coliving building in Aliante, in 2022. The average stay in Alicante is 5.2 months, with monthly rates ranging between €800 and €1,050. Although the majority of tenants in Alicante are from overseas, in Bilbao the profile of residents is expected to diversify, especially due to the high demand for temporary accommodation by workers in the audiovisual industry.
The Suites brand also has projects under development in Madrid, Valencia and Malaga, and new openings planned in Barcelona, Vigo and Bilbao. Marjal’s strategy consists of “revitalising buildings that currently do not contribute positively to their environment, turning them into valuable real estate assets and improving the quality of life in the urban areas where they are located”.
