With an investment of 36 million euros and an opening scheduled for 2029, the project will have 120 apartments starting from €278,000, with an estimated net return of 6%. Hotel management will be handled by Kora Living
Kategora, a Basque developer specialized in the Living sector, begins the commercialization of Kategora Malak, its new hotel complex in Rincón de la Victoria (Málaga, Costa del Sol). With an investment of 36 million euros and an opening scheduled for 2029, the project strengthens the company’s presence on the Costa del Sol and is added to the Beach line of its hotel brand Kora Living, oriented toward vacation accommodation.
Kategora Malak will offer 120 one- and two-bedroom apartments, with areas between 55 and 93 m², terraces and hotel services. The apartments are going on the market from 278,000 euros, with an estimated net return of 6 %. The proposal follows Kategora’s investment model: each buyer acquires an apartment in ownership and delegates its operation and maintenance to the operator Kora Living, which will manage the establishment comprehensively under a hotel license, offering the investor total legal security and the maximum return on the operation of the asset.
The company already has operational experience in Málaga through the flex living accommodation Kora Olea, in Los Álamos (Torremolinos), marketed as Kategora Oceanika. Since its opening last March, the complex has achieved an average occupancy above 90 %, with ratings above nine points out of ten on Booking and 4.5 out of 5 on Google. With Kategora Malak, the Basque company takes another step in its growth in one of the benchmark vacation destinations on the Málaga coast.
Kategora Malak will be developed on a plot for tertiary use, planned from the outset for hotel activity. The 120 apartments will be part of a single hotel establishment, with professional and centralized management of the activity, services and maintenance in charge of the operator Kora Living, a benchmark in conscious hospitality.
Sustainable design and integration with the surroundings
Located on a hillside facing the Mediterranean, Kategora Malak will combine fully equipped apartments and hotel services with common spaces designed for rest and well-being, such as a pool, gardens, fitness area, and meeting areas. Its design will take advantage of the natural slope of the land, with terraces and landscaped pathways that will favor the integration of the complex into the landscape and allow enjoyment of the Mediterranean climate. Its coastal location and proximity to Málaga complete an accommodation proposal designed to enjoy the destination all year round, catering to both leisure trips and professional stays.
The complex will have 13,600 m² built and about 2,500 m² of common spaces, distributed in 590 m² indoors and 1,900 m² outdoors. Among them are a lobby, coworking, gastro txoko —a Basque tradition meeting space to get together and enjoy gastronomy—, fitness area, yoga area and sauna, in addition to a pool, gardens and a stepped solarium adapted to the topography of the land.
The name Malak refers to the city’s different historical denominations and serves as a starting point for an architectural proposal inspired by the territory. The Málaga-based studio HCP is signing the architectural project; HofmanDujardin is in charge of the interior design, with references to materials and tones from Andalusian tradition, and The Garden by Chio is developing the landscaping, with native vegetation and a reinterpretation of the traditional terraces.
This integration goes beyond design. In line with its conscious hospitality model, Kora Living plans to prioritize the hiring of local collaborators and suppliers in the launch and operation of the hotel, as well as the use of nearby materials and zero-kilometer products. "For us, integrating a hotel into its surroundings goes far beyond its architecture. We want Kategora Malak to contribute to the local economic fabric, generate opportunities for collaboration with businesses in the municipality and allow our guests to discover everything that Rincón de la Victoria has to offer. We understand that being part of a destination means working with those who know it and bring it to life", highlights Eneko Balda, Chief Development Officer of Kategora.
In line with Kategora’s sustainability criteria, the development will incorporate measures aimed at energy efficiency and the responsible use of resources, including photovoltaic panels, aerothermal energy, high-efficiency lighting and rainwater collection systems. Kategora expects the complex to obtain BREEAM sustainability certification and a high energy rating.
A hotel investment model with delegated management
For the investor, the Kategora model consists of acquiring an apartment in ownership and delegating its management and maintenance, integrating it into the joint operation of the complex. Kora Living will be responsible for the operation, guest service and upkeep of the facilities. This unified management makes it possible to market the accommodation and provide hotel services under common criteria, without the owners having to take care of the day-to-day operational tasks.
As Agustín Orcasitas, Chief Commercial Officer of the company, notes, "the appeal of an investment also lies in the foundations that support its profitability: the choice of destination, the ability to attract demand and the quality of the accommodation. In Kategora Malak, twenty years of experience in the development and management of real estate assets converge with the knowledge acquired from operating on the Costa del Sol". Orcasitas adds that this experience allows them to translate what the guest values into concrete decisions about the product and its commercialization. "There lies the connection between the quality of the stay and the results for the investor: accommodation that meets its customers’ expectations has a greater capacity to generate occupancy, build loyalty and maintain its competitiveness".
The income scheme combines a fixed rent, settled quarterly, with a variable part linked to the annual results of the operation, in accordance with the contractual conditions and subject to external audit. The owners will be able to consult the documentation and follow the progress of their investment through Kategora App, in addition to accessing the Kora Rewards loyalty program, with benefits and special discounts at all Kora Living complexes.
The launch of Kategora Malak also coincides with a particularly significant year for the company, which in 2026 celebrates twenty years of experience. Kategora has seven complexes in operation and 23 projects in development, consolidating a model of hotel investment and management backed by its results: in 2025, its operating establishments achieved returns above 9 %.