Potential of EUR 1 billion in property sales for Kronos Real Estate in Portugal
- Valerie Charoux
- Feb 11, 2023
- 1 min read
Updated: Oct 4, 2023
Kronos Real Estate investments in Portugal represent a potential of more than EUR 1 billion in property sales, mainly across the Algarve. Kronos RE and Highgate are also part of a consortium with Davidson Kempner Capital that acquired leading Portuguese investment firm ECS Capital for an amount of EUR 850 million.
The Kronos Real Estate Group investments in Portugal already include 750 properties as well 425 units that are yet to be developed.
The Spanish real estate group will develop 10 resorts and 4 residential projects located mostly in the Algarve. It is to be noted that Kronos has already developed major projects in the Algarve with Palmares Ocean Living & Golf and Amendoeira Golf Resort, as well as residential projects in Lisbon with the development of Distrikt, The One and Zen.
Kronos Homes will be repositioning a range of resorts spread along the Algarve, including the management and real estate development of the renowned Vale do Lobo Resort, while future development plans include a 135-bedroom five-star hotel and luxury apartments and Villas.
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