Madrid-based real estate developer Kronos Homes said on Tuesday it has sold 50% of the 65 housing units in The One residential complex in the heart of Lisbon, Portugal.
The €45 mln project on Avenida João XXI was designed by award-winning architect Eduardo Souto de Moura and comprises a mix of one- to three-bedroom flats over seven floors.
The residential complex also has three floors below ground with 78 parking spaces and storage rooms, in addition to a commercial area with four shops, a gym and a small garden.
Construction work is already underway and should be completed by the end of 2023.
The vast majority of the buyers of the flats, priced from €450.000, are Portuguese citizens.
The One is Kronos Homes’ fourth project in Portugal. Its portfolio includes the residential development Distrikt in Lisbon’s Parque das Nações, as well as two resorts in the Algarve - Palmares Ocean Living & Golf and Amendoeira Golf Resort.
The Spanish company has another residential project in Lisbon in the pipeline, a closed condominium with approximately 170 flats.
