The Spanish property management firm Argis has launched a new flex living development in Madrid as part of its investment strategy in this type of property. With a total investment of €39 million, seven floors, 11,800 sqm of floor space and 179 studio-style units, the development, named Flipco Retiro, features communal areas including a living hub, social lounge, gym, meeting and co-working rooms, a mini-market and a rooftop with a swimming pool.
Argis’s new flex living development is situated on the site that for years housed the former headquarters of Metro de Madrid, in the Pacífico neighbourhood and just a few minutes from Retiro Park.
According to the company, Flipco Retiro embodies Argis’s commitment to living formats aligned with a demand driven by mobility, flexibility and a less rigid relationship with housing than that maintained by previous generations.
“Flipco Retiro also brings a clear urban dimension to the project, beyond its residential value. The conversion of the former Metro de Madrid headquarters into a flex-living development reflects Argis’s commitment to continuing to adapt existing buildings to new urban needs, whilst doing so with a view to revitalising and updating the uses of existing urban heritage,” they added.
Argis currently has three flex-living projects under development in Madrid city centre, San Sebastián de los Reyes and Tres Cantos, which together comprise 1,078 units. In total, it manages €1.4 billion in assets representing over 330,000 sqm of property space. Furthermore, last February, it finalised its latest acquisition in partnership with BGO, securing a portfolio of 440 flexible residential units comprising two properties situated in central locations in Madrid.
“Demand is no longer driven solely by housing in the traditional sense, but also by flexibility, services and a residential experience that is more closely linked to mobility and urban life. “Our aim is to respond to this transformation with a solution that combines product, operations and market analysis under a single approach. It is not a question of adapting an existing model to new demand, but of building from the ground up a specific response for a resident profile that the market had not served with sufficient rigour,” says Aurelio Rodríguez, Business Director at Argis.
Outside the flex living business, Argis has also been involved in other significant transactions in 2026, such as the purchase of Torre Sevilla from CaixaBank, valued at €130 million. The building comprises 100,000 sqm of floor space spread over 39 floors, with a mixed-use development comprising offices, a hotel and retail space.
