Suiters opens its first coliving in Alicante and plans to invest 60 million to expand the business

Suiters opens its first coliving in Alicante and plans to invest 60 million to expand the business

The first “co-living” of suits it is already a reality. The company owned by Marsh Group; the Tasmania Group, owned by the Catalan businessman Rubén Fernández; and Valwealth, the society of the founders of the Valencian Institute of Infertility (IVI), has inaugurated this Friday its first establishment dedicated to this new accommodation model, specially designed for medium length stayssuch as those carried out by the so-called digital nomads or the professionals temporarily displaced, and which also includes services and shared areas for work or socializing.

A new market segment for which the promoters of this initiative are willing to bet heavily, to the point that they foresee a investment of 60 million euros to expand the model to other Spanish cities until 2025, as explained by the firm’s CEO, Javier Fur. Thus, in addition to the establishment that opened its doors this Friday in Alicante, the firm already has two other properties in its portfolio in Valencia and Malagaand look for new locations.

In this regard, the intention of Suiters is transform existing properties in emblematic locations, recovering singular architecture of degraded spaces, to “contribute to improving the neighborhoods and cities where they are located”. In the case of Alicante, the implementation of the “coliving” has meant the recovery and enhancement of the old building of the insurance company of Axa on Alfonso el Sabio avenue in Alicante, in front of the Central Market. A building that had been abandoned for years and in the process of degradation.

The action has respected the structure, completely reforming the interior and adapting the façade, which has been provided with a plant coating in the spaces between windows – as a vertical garden-, which has already become one of the most characteristic images of the area. A project by the architects Joaquín García Marín and María Langarita.

READ ALSO :   Production chief says Mercedes-Benz has other plans to cut back pocket gas

The first Suites has 49 accommodation units and common areas including laundry, kitchens, lounges, dining rooms and coworking space, as well as other equipment such as a gym or bar. Fur assures that the market response has been immediate and the establishment will open on the 1st with almost 50% of its accommodation already occupied.

For its part, the building that the firm has acquired in Valencia is located on Avenida del Puerto, and will have 40 accommodations; while the one in Malaga, located on Calle Lazcano, will offer 62 residential spaces.

The goal is to reach the 500 housing units before the end of 2025, for which an investment of around 60 million euros is expected. To do this, in addition to the development of its own projects, the firm has opened a new line of business focused on asset management, operating spaces from other owners to incorporate them under the Suiters brand.

The initiative to create this company came from Grupo Marjal, the Guardamar firm whose ownership is shared by the Fur and Gómez families, as a way of diversifying its activity. Thus, the “coliving” joins the promoter that the group already has and that operates under the brand Somium and to the division that manages the chain of tourist resorts Alanniawhere they have the Corpfin fund as a partner.

Newsletter Updates

Enter your email address below to subscribe to our newsletter