Madrid-based real estate developer Kronos Homes has invested more than €200 mln in the development of six new residential projects in Spain and Portugal.
A total of 750 homes will be marketed on the Costa del Sol (Torremolinos and Mijas), in Catalonia (Montjuic and Cubelles), Madrid (Carabanchel) and Lisbon (Portugal).
Construction work will kick off in 2023 and delivery is expected between the end of 2024 and throughout 2025.
The only exception is the development in Madrid's Carabanchel district on which work will start after the summer, in one of the most revitalised areas of the Spanish capital.
Rui Meneses Ferreira, general manager of Kronos Homes said: ‘Our developments are singular; the design, the avant-garde and the quality of the materials make them different and unique. We also have great architects in their development, so we expect to close the marketing of these homes this year and thus continue to advance in our strategic plan for Spain and Portugal, which includes the delivery of more than 1,000 homes by 2022 and sales of more than €500 mln.’
As design is one of the hallmarks of its projects, Kronos Homes collaborates with architects of national and international renown.
In the case of the six developments, the studios that will be in charge will be Josep Mias, Orfila 11, Adoras Atelier and Manuel Clavel.
All the homes will feature the BREEAM seal, the highest sustainable rating standard on the market.
Separately, Kronos Homes has paid €50 mln for two plots of land in Madrid to Coral Homes, a servicer of the Lone Star fund.
In Los Pocillos (Villanueva de la Cañada) it acquired 85,000 m2 of buildable area to build 500 homes, becoming one of the major owners, and in Los Ahijones (Desarrollos del Sureste) another 100,000 m2 for 1,000 units.