Kronos Homes invests €150 million in Parque das Nações

Kronos Homes, a developer operating in Spain and Portugal, is to invest €150 million in a real estate project with a significant part earmarked for homes and tourist apartments to rent, in addition to a €25 million hotel that will be operated by the Hilton chain.

Located in Parque das Nações (South) in East Lisbon, the development will occupy one of the last parcels of building land left for development in this part of Lisbon.

The CEO of Kronos Homes Portugal, Rui Meneses Ferreira, said the development represented a “significant milestone in the group’s activity in Portugal and is it’s first mixed-use project “integrating residential, hotel and tourist apartments in one quality cosmopolitan and inspirational concept.”

The project is designed by Broadway Malyan and comprises four distinct and complementary buildings that according to the developer are designed to provide an integrated, functional and sophisticated experience in a style that is in line with others seen in European capitals.

MIMA Residences, the residential component, is already being marketed and has 51 apartments (one-four bedrooms) varying between 65m2 and 190m2 selling from €600,000.

MIMA Living, the tourist component, features 180 apartments with integrated services (one-two bedrooms) and areas between 45m2 and 70m2, all fully-equipped.

The four-star hotel will operate under the brand Tempo by Hilton and will have 142 rooms, restaurant, bar, and fitness facilities.

The Kronos Homes portfolio in Lisbon also has The One on Avenida João XXI which is the first residential project from Kronos Homes in Portugal and is completed. It was designed by architect Eduardo Souto de Mora, winner of the Pritzker Prize.