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Kronos plans to reach 200.000 sqm in retail assets until 2020
06 June 2019 | Vanessa Sousa

Kronos Properties’ goal for 2020 is clear: to build a 200.000 sqm retail portfolio. In order to achieve it, it launched a new brand: WAY, which has 500 million euro to invest.

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In Spain alone, it already has 4 projects belonging to this segment under way and, according to Eje Prime, it also intends to carry out two more, since the total combined area of the assets currently under construction doesn’t go beyond 140.000 sqm.

One of them is being developed in Andalusia and represents a 65 million euro investment on a 48.600 sqm area. Another 18.100 sqm retail centre should soon be built in Galicia and will cost Kronos 25 million euro. The third project is being built in Seville and the fourth in Ourense. These last two projects have a total combined area of 70.000 sqm and will cost 90 million euro.

Kronos started operating on the retail market at the beginning of the year. Until then, the group was mainly focused on the office and the housing markets.

 

Photo: Kronos