The Spanish company has three projects in Algarve, the first in a country "very important for us and that it has very sophisticated clients", explains Said Hejal, founder and managing partner of Kronos Homes, where the developer, specialized in architecture and design, plans to focus on the second housing market in Algarve and first housing in the cities of Lisbon and Oporto.

Kronos acquired last November, in Lagos, the project Palmares, a resort with golf and boutique hotel, which will have 400 residential units in the future, with values ranging from €200,000 to €2.5 million, according to the responsibles. The first phase of commercialization will be launched by the end of the year.

In Porto Mós, the real estate company purchased Belmar Resort, with 180 apartments. And in Silves, the Amendoeira Resort, with a golf course, 240 residential units ready and two expected phases of over 70 units. In this project, "we will commercialize what is completed, and we will build from scratch the next phases".

"We are focused on acquiring more projects until the end of this year," explained Rui Meneses Ferreira, a partner of Kronos Homes in Portugal, who has already secured "partnerships with Portuguese architects" to develop new projects.

In Lisbon and Oporto, the company will begin by investing €100 million between the two cities. It intends to stay out of the prime zones and “focus on the national market. The prices have to be within what can be paid, not forgetting that we are in Lisbon”. The distance of the city center is a matter of ticket, because the company bet on the new construction and also by a matter of dimension: "we do not want projects with less than 50 units". But it accepts that “it’s not easy to find plots” for this purpose.

The company has not advanced investment values beyond acquisitions. In Spain, it has 16 residential projects in progress and another 10 underway, and expects to deliver a total of 1,600 houses over the next 2 years.

Design and sustainability are two of the great flags of Kronos

Kronos Homes is "a residential developer focused on architecture and design," explains the company's founder. Under the motto "#puredesign", it bets on an innovative design concept, and "devotes about 3 to 6 months above the industry average for the study of design projects".

Sustainability is also one of the priorities, as well as contributing “to improve the urban landscape” of the regions where it operates. Its Spanish projects are classified as BREEAM, and it chooses the implementation of several systems and technologies for saving resources, such as a more efficient energy management, giving priority to native plants in the gardens or installation of water recovery systems for irrigation. It aims “to be a benchmark in the market” in this context.


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