Belgium’s Cofinimmo to Invest in Geriatric Residences in Spain

10 September 2019

Cofinimmo, a Belgian socimi specialised in developing and managing rental properties, is now investing in the healthcare market. The company has begun construction on its first residence for senior citizens in Spain, in Vigo. Cofinimmo will also invest in a second such residence in the province of A Coruña.

Cofinimmo’s subsidiary Gloria Health Care Properties is building the residence in Vigo, with a planned investment of eight million euros. The 8-floor building will have a total of 140 beds and is expected to be ready by November 2020. Clece Vitam, geriatric facility management group responsible for 145 residences and 92 daycare centres throughout Spain, will manage the facility.

Original Story: Planta Doce – A. Escobar

Adaptation/Translation: Richard D. K. Turner

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