Our third coliving building, Atocha Madrid Coliving will be opening on September 5, 2022. With 2,800sqm available for rooms, studios, and apartments, an entire floor of common areas, including a coworking space, gym, lounge, swimming pool, and more, as well as, four terraces it is an incredible residence, to say the least.
After 2 years with no opening, the launch of a new residence is a good opportunity to reflect on our path.
We have come a long way since starting in 2016. Within our first year, we focused on convincing real estate professionals that coliving was an opportunity. We knew that there was a need for communities in residential buildings and had a vision of what it meant to take advantage of each sqm in our spaces. In 2018 we opened our very first residence. Over time, it proved not only that there was a genuine market for coliving, but that the experience we proposed made sense for tenants.
When the world took a turn in 2020, we adapted by strengthening our brand and diversifying our target to reach 50% national and 50% international tenants. We also accelerated the development of our technology for operation, so that our team could focus on the human relationship with our tenants. These shifts helped us in two ways; residents were happier and stayed longer, which we truly believe allowed for even more genuine connections to be made in our spaces.
With the current all-time high occupancy in all our residences, the pandemic certainly has confirmed that our model is resilient and successful. It also confirmed that the need for a new residential experience is growing in our society.
We have numerous opportunities on the rise. We have been working on several openings simultaneously, closing residential management agreements, and most importantly, building partnerships that have propelled us even further throughout the years.
We are extremely grateful, excited, and ready to open Atocha Madrid Coliving’s doors in less than one week. Thank you to each individual that was involved in the process, without you it would have not been possible.