An Introduction to DoveVivo

With most of its presence currently in Italy, DoveVivo is actually one of the largest coliving companies in Europe in terms of beds and offering: it manages a portfolio of 1,500 coliving homes and 7 student accommodation spaces in 10 cities, thanks to a network of 600 landlords and investors and a community of 8,00 members. DoveVivo is also rapidly expanding into major European capitals and cities.

DoveVivo promotes an innovative coliving service that guarantees an all-inclusive, hassle free formula. This formula provides added value to several of their stakeholders:

• Private landlords generate additional sources of revenue;
• Guaranteed managed and secured long-term rental contract for investors, without the risk of insolvency or vacancy (with savings of up to 30% compared with traditional leases and long-term yields of 4-5%);
• Tenants get access to high quality accommodation with a range of community services including 24-hour assistance and customer service, a dedicated DoveVivo App, events programming and sports equipment which the community can hire for free.

Coliving During A Crisis

The current health emergency has, without any doubt, impacted the real estate industry, but the coliving segment is proving to be resilient to the crisis, with demand remaining high. We also believe that young people will continue to seek professional and educational opportunities in the locations where we are expanding. Millennials and Gen Z demographics who have started on or are about to start a long-term professional or university career will not vive up their life plans and will continue to choose house sharing as an opportunity for building relationships, supporting each other and exchanging skills and experiences.

This trend is also confirmed by the results of an Educations.com survey (in collaboration with The Class of 2020) according to which the intention of studying abroad is still very much alive, and only 5.4% of the students surveyed have the intent of changing or cancelling their plans to study abroad. Regarding young professionals, the cities where DoveVivo operated remain attractive as they have the most appealing professional opportunities.

For both Millennials and Gen Z, flexible solutions with the benefit of sharing amenities and utilities will be a great driver to keep on choosing coliving even in the economic constraints that COVID-19 may trigger. During COVID-19 we have also seen a positive performance that proves demand of shared living will stay relevant and/or increase

• 55% of our members remained in DoveVivo facilities during the lockdown (with members securing their contracts even if they relocated during lockdown);
• Our occupancy rates per year to date remain above 90%;
• We have an average stay of 13 months.

Even during COVID-19, we have had over 150+ new members move-in since the beginning of May, with young professionals moving in and seeking access to higher grade Wi-Fi connections and better working from home amenities (i.e. working chairs). In addition to these pandemic measures, we also created new social distancing guidelines and have added ozonators to purify and sanitise and the air quality in our homes.

Coliving Will Not Stop, Rather It Will Evolve!

With tourism and short-term rental sectors being heavily impacted by COVID-19, private and institutional landlords and investors are looking for new investment opportunities and safer returns on their asset in uncertain times. For tenants, events and other communal activities will soon start again: because for DoveVivo the successful key to coliving is not the sharing of spaces but the sharing of experiences and life! For this reason, DoveVivo's coliving formula is destined to attract more and more interest and will continue to evolve post COVID-19 to provide high quality accommodation and strong returns to all of our stakeholders.