Kronos Properties Launches WAY to Invest €500 Million in Commercial Market

6 February 2019

WAY has already launched two projects, one in Dos Hermanas (Seville) and another in San Cibrao das Viñas (Ourense), which will involve investments of 90 million and a commercial area of ​​66,700 square meters.

Kronos Properties is making the leap to the commercial market, launching WAY, a firm specialising in commercial properties. The brand has a budget of 500 million euros for investments that it intends to allocate to new-generation, innovative spaces with large areas dedicated to leisure and food service.

Saïd Hejal, a founding partner and general counsel for Kronos Properties, said in a statement that “the market is demanding an evolution to the concept of commercial projects, in addition to the creation of different spaces that contribute to creating a unique experience for the entire family.”

The first two projects, both of which are already underway, are located in Dos Hermanas, Seville, and San Cibrao das Viñas, in Ourense, and represent an investment of 90 million euros for a commercial surface of 66,700 square meters.

WAY Dos Hermanas is looking to reformulate the shopping centre concept, combining large areas with recreational spaces. Construction will likely be completed in the spring of 2020 and will generate 700 direct jobs. WAY’s second project is the WAY San Cibrao, a commercial space that is expected to open in the spring of 2020 and generate 250 new jobs. With these new projects, Kronos Properties is committing itself to the commercial market after having previously focused exclusively on residential developments.

Original Story: EjePrime

Translation: Richard Turner

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