Torremolinos has a new landmark, and it’s not another glass tower. Kategora Oceanika, the fourth Flex Living complex from Spanish operator Kategora, has landed on the Costa del Sol as the largest timber-built hotel structure in southern Europe — a €40 million project built almost entirely from PEFC-certified wood.
The numbers tell their own story. The development spans 10,000m² and comprises 180 apartments — 150 one-bedroom and 30 two-bedroom units — split across six typologies. Around 3,500 cubic metres of timber went into construction, allowing the building itself to lock in roughly 3,500 tonnes of CO2. It’s earned a BREEAM “Very Good” certification, putting sustainability at the centre of the investment case rather than as an afterthought.
Location does the heavy lifting. Set just a ten-minute walk from Los Álamos Beach, five minutes from Málaga airport, and fifteen minutes by train from the city centre, Kategora Oceanika sits in one of the most connected pockets of the coast — a deliberate bet on Torremolinos as a rising alternative to Málaga city itself, where, per Idealista data, it already ranks as one of the most in-demand places to buy on the coast.
This is where flex living gets serious. Operated under the Kora Living brand as “Kora Olea,” the asset opens its doors in March 2026, following the operator’s earlier launches in Vitoria, Pamplona, and Valencia. Apartments are on the market from €238,000, with a projected net annual return of around 6.5% — pitched squarely at investors who want hands-off ownership paired with hotel-grade management.
The bigger picture: this isn’t a one-off. Flex living — the hybrid model blending short- and mid-term stays with community-driven design — is gaining ground fast in Spain, driven by remote work, rising mobility, and a growing appetite for flexible, service-rich living over traditional rentals. Kategora already operates seven such projects nationally, with 23 more in development. Kepa Apraiz, CEO and founder of Kategora and Kora Living, frames the Costa del Sol launch as proof that sustainability and profitability aren’t competing goals — they’re increasingly the same pitch.
For investors watching the coast, Kategora Oceanika isn’t just a new building. It’s a signal of where the market is heading next.
Source: SUR in English
