In front of CUF Descobertas hospital, the new project will be devolped in an area currently occupied by a parking lot, including 4 buildings with 14 floors each, commercial areas and common areas with garden and pool, for a total of 27.000 sqm.

Construction works should begin in 2020, and the first, of a total of 200 to 240 one to four bedroom appartments, should start being delivered two years later, but the marketing will start on this year’s second quarter. Prices should begin at 300.000 euro, reaching 1.5 million euro, corresponding to 5.000 to 6.000 euro per sqm.

Rui Meneses Ferreira, partner at Kronos Homes in Portugal, told Expresso that the architecture and design will be the main differentiating elements in the company’s projects, and that  «a substantial part of the project will be purchased by Portuguese nationals».

In July, after having just entered the Portuguese market, Kronos announced an initial investment of 100 million euro in  Lisbon and Porto alone, besides other projects it has in the country, outside the cities’ most central areas. New construction is the focus, and so the company is looking for building terrains, with capacity for more than 100 or 200 dwellings.

Besides this first project in Lisbon, Kronos Homes has three projects in Algarve, namely project Palmares, Belmar Resort or Amendoeira Resort, which it acquired last year.

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