Inurban, through Iberia Reim, has acquired land in Málaga to develop 27 holiday flats

Inurban continues to expand its presence in the high-end holiday accommodation market. Through its investment management arm, Iberia Reim, it has completed the acquisition of a plot of land at 32 Calle Capuchinos, in the heart of Málaga, with a view to developing a building comprising 27 holiday apartments.

This transaction marks the third asset to be added to Arabí Living, the investment vehicle specialising in tourist accommodation projects managed by Iberia Reim, which already has projects in Alicante — where the development phase has been completed — and Valencia.

The project involves the construction of a BREEAM Spain-certified building, reflecting the group’s commitment to sustainability and the highest standards of construction quality. The property will be managed by a specialist operator under a long-term lease with a rent guarantee structure, and is scheduled to open in November 2028. The transaction has an estimated net internal rate of return (IRR) of around 20 per cent.

Arabí Living is a vehicle designed to transform property assets into tourist accommodation buildings in cities with high demand and low seasonality. The model is based on identifying strategic locations, developing or converting the asset, subsequently operating it under a contract with a tourism operator — with fixed and variable rental income — and selling the properties, either individually or as a portfolio.

Málaga has thus established itself as Arabí Living’s third key market, alongside Valencia and Alicante – three cities that combine robust tourist demand with an attractive and stable investment profile.
With this acquisition, Inurban reaffirms its growth strategy in the high-quality urban tourism sector, focusing on well-located, sustainable properties that offer competitive returns for its investors.