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Kronos Launches 65-Flat Project in Lisbon in €40-Milion Investment
5 May 2021 – Ana Custódio
It is Kronos’ fourth project in the country. The One joins Distrikt, also in Lisbon, and two resorts in the Algarve.
The residential real estate development company Kronos is launching its new project, The One, designed by the architect Eduardo Souto de Moura with the technical collaboration by the Metrourbe architectural studio.
The €40-million project will be located in the centre of Lisbon, in Avenida João XXI, between Avenidas Novas and Avenida de Roma.
The One has 65 one-to-three-bedroom flats on seven floors, along with 75 parking spots. The project also includes four shops, gardens and a gym. The apartments are located close to parks, cultural spaces, schools, restaurants and public transportation, providing easy access to Lisbon’s most well-known point of interest.
“Having a project designed by the architect Eduardo Souto de Moura is not only a privilege and a symbol of excellence but also the perfect combination with Kronos Homes’ values, with [our] considerable] passion for architecture and the quality and distinction that we want to define this project and its unique location in Lisbon. It is also the fulfilment of a goal we had of having a Pritzker prize-winning Portuguese architect [work on] one of our projects”, said Rui Meneses Ferreira, partner of Kronos Homes in Portugal.
Eduardo Souto de Moura, the project’s architect, explains the architectural concept: “This is the first project I’m going to execute from scratch in Lisbon. I have practically only worked on refurbishments. While not at odds with the site, the building is also not a copy of its surroundings; it has its own identity and tries to respond to energy issues that are also fundamental today.”
After three years in Portugal, this is Kronos Homes’ fourth project in the country. The One joins Distrikt, also in Lisbon, and the two resorts in the Algarve – Palmares Ocean Living & Golf and Amendoeira Golf Resort.
“The One is the place for those who want to have more time, more space and be closer to the best of the city of Lisbon. The name conveys its unique character, which is distinguished by its differentiating features and location. It also reflects the mark we want to leave in Portugal, the value we want to add through benchmark, high-quality developments”, says Saïd Hejal, founder and CEO of Kronos.
The developer started operations in the Spanish residential sector in 2015, and since then it has been increasing its portfolio and investments. The firm arrived in Portugal at the end of 2017, thus beginning its international expansion. It currently has 24 projects underway in both markets.
Translation: Richard D. K. Turner