Kronos Real Estate Sl.

What Kronos Real Estate Sl. does

Kronos Real Estate Group (legal entity KRONOS INVESTMENT MANAGEMENT SPAIN, S.L., branded Kronos Real Estate Sl.) is a privately held, Madrid-based Iberian real estate development and investment platform founded in 2014 by Saïd Hejal and Manuel Holgado. The group operates a multi-brand portfolio covering five complementary real estate formats across Spain and Portugal: Kronos Homes (build-to-sell residential), Stay by Kronos (build-to-rent), US by Kronos (flex-living, launched September 2025), Kronos Resorts (luxury resort and branded residences, notably in the Algarve), and Way (commercial retail parks). The company develops projects designed by internationally recognized architects including Ricardo Bofill, RCR Arquitectes, Eduardo Souto de Moura, and Rafael de La-Hoz, and has delivered 1,200 homes in 2023 with a target of 1,500 in 2024, while managing a portfolio of more than 20,000 units across 60+ projects supported by a team of 120+ people.

The business model is diversified across one-time home sales (Kronos Homes, Kronos Resorts), recurring rental income (Stay by Kronos, US by Kronos), and commercial leasing (Way), with revenue generated primarily in Iberia and supported by offices in Madrid, Barcelona, Málaga, Lisbon, the United Kingdom, and Luxembourg. The capital structure combines founder-led ownership with a flagship 2020 strategic partnership with Nuveen (TIAA), under which the parties have committed approximately €2,000M toward 5,000 build-to-rent homes in Spain, and brand partnerships with Marriott and Hilton in Portugal. Reported turnover reached €500M in 2023 (up from €456M in 2022), and the company is consistently ranked in the Top 3 of the Spanish real estate sector and Top 10 in Spanish housing deliveries, with recognized leadership in Portugal.

The platform's customers span individual residential buyers, institutional build-to-rent capital partners (notably Nuveen), commercial tenants such as IKEA and Inditex at Way shopping centers, and high-net-worth resort and branded-residence buyers. Go-to-market combines direct field sales for high-value residential and commercial properties, self-serve brand websites for each business line, and institutional investor relations via a dedicated portal. Distribution is multi-channel and multi-geographic across Iberian urban markets (Madrid, Barcelona, Costa del Sol, Valencia, Lisbon, Algarve), with the Málaga, Barcelona, and Lisbon offices serving as regional hubs.

Name

Kronos Real Estate Sl.

Legal name

KRONOS HOMES – KRONOS INVESTMENT MANAGEMENT SPAIN, S.L.

Website

https://kronosre.com

Company type

Private

Founded year

2014

Operating status

Operating

Short description

Kronos Real Estate Group is a privately held, Madrid-based Iberian real estate developer operating five branded verticals—build-to-sell (Kronos Homes), build-to-rent (Stay by Kronos), flex-living (US by Kronos), luxury resorts (Kronos Resorts), and commercial parks (Way)—with 20,000+ managed units and €500M of turnover in 2023.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Residential Property Managers (531311), Lessors of Residential Buildings and Dwellings (531110), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131)

SIC

Real Estate Dealers (For Their Own Account) (6532), Lessors Of Real Property, Nec (6519), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industry

Ultra-Luxury Villas & Estates (THAMAEAA)

Keywords

• Residential real estate development
• Build-to-rent housing
• Luxury resort residences
• Flexible living spaces
• Commercial retail parks

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Build-to-Sell Residential (Kronos Homes): Development and sale of residential properties to individual buyers. Revenue is generated through one-time property sales at project completion. The company has delivered 1,200 homes in 2023, 700 in 2022, and expects 1,500 in 2024.
2. Build-to-Rent (Stay by Kronos): Development and operation of residential properties for rental. The company manages units under the Stay by Kronos brand, with 470 homes delivered in 2024 and a target of 5,000 units by 2026. Generated business turnover of +500M€ in 2023.
3. Flex-Living (US by Kronos): Flexible living spaces under the US by Kronos brand, launched in September 2025, targeting modern urban living needs.
4. Resort Properties (Kronos Resorts): Luxury resort developments including Palmares in Algarve with branded residences (Marriott), and hotel partnerships (Hilton).
5. Commercial Parks (Way): Development and operation of commercial retail parks under the Way brand, including Way Dos Hermanas, Way Cáceres, and Way Ourense.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Kronos Real Estate Group invests in, develops and manages residential and commercial real estate assets across the Iberian Peninsula through five branded business lines: Kronos Homes (build-to-sell residential), Stay by Kronos (build-to-rent rental housing with amenities), US by Kronos (flex-living modern urban residences), Kronos Resorts (luxury resort and branded residences including Marriott and Hilton partnerships), and Way by Kronos (commercial retail parks). The company has delivered and managed more than 20,000 units across over 60 developments in Spain and Portugal, with a 2023 turnover exceeding €500M.

Product overview

Kronos Real Estate Group operates a multi-brand real estate development platform across the Iberian Peninsula. The portfolio consists of five main sub-brands: Kronos Homes (build-to-sell residential), Stay by Kronos (build-to-rent), US by Kronos (flex-living), Kronos Resorts (luxury resort properties), and Way (commercial retail parks). Projects are developed with renowned architects including Ricardo Bofill, RCR Arquitectes, Eduardo Souto de Moura, and Rafael de la Hoz, among others. The company reported managing over 20,000 units and completing more than 60 projects across Spain and Portugal.

Differentiator

Problem solved

Functional benefit

Brands

• Kronos Homes: Build to sell residential development brand
• Stay by Kronos
• US by Kronos
• Kronos Resorts
• Way by Kronos

Products and services

• Kronos Homes (Build-to-Sell Residential) Build-to-sell residential development brand developing homes for purchase across the Iberian Peninsula (Spain and Portugal), featuring architect-led designs by Ricardo Bofill, Eduardo Souto de Moura, RCR Arquitectes, and Rafael de La-Hoz. Targets individual and family buyers in luxury and mid-to-high urban and resort markets.
• Stay by Kronos (Build-to-Rent) Build-to-rent residential brand providing managed rental housing with amenities (gym, coworking, community spaces) across Spain, targeting institutional investors as capital partners and individual tenants as residents. Examples include STAY Tarragona (from €630/month for 144 units), Stay Cordoba, Stay Cuatro Vientos, Stay Pamplona, Stay Torrejon.
• US by Kronos (Flex-Living) Flex-living residential concept offering flexible, contemporary living solutions for urban professionals through short- and medium-term rental offerings.
• Kronos Resorts (Luxury Resort Residences) Luxury resort and branded residence development brand operating primarily in the Algarve (Portugal), combining architect-designed residences (including RCR Arquitectes' award-winning Palmares) with Marriott and Hilton hospitality services for high-net-worth buyers of vacation and second homes. Kronos invested €500M in Vale do Lobo resort development.
• Way by Kronos (Commercial Retail Parks) Commercial retail park development and operation brand managing shopping centers across Spain, including Way Dos Hermanas, Way Cáceres, and Way Ourense. Generates revenue through commercial leases to retail tenants including anchor brands such as IKEA and Inditex/Lefties.

Quantifiable outcome

• 1,200 homes delivered in 2023, with 1,500 expected in 2024
• +3 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered flagship and core.

• Marriott InternationalflagshipStrategic or Co-development Partner · 1 May 2025Kronos partnered with Marriott to launch branded residences at the Salgados Resort Algarve. Marriott-branded residences represent a premium offering within the Kronos Resorts portfolio, combining luxury real estate with hospitality services.
• HiltonflagshipStrategic or Co-development Partner · 1 May 2025Hilton partnered with Kronos to bring Tempo by Hilton to Portugal. This hotel/branded residence partnership represents Kronos' expansion into the Portuguese hospitality market under the Kronos Resorts brand.
• Ricardo Bofill (RB4)flagshipStrategic or Co-development PartnerRenowned architect Ricardo Bofill designed signature projects for Kronos including IKON tower in Valencia (the tallest building in Valencia) and the Brava project. Bofill's posthumous design for Palmares continued the partnership legacy.
• RCR ArquitectesflagshipStrategic or Co-development PartnerPritzker Prize-winning architecture firm RCR Arquitectes designed Palmares Ocean Living Golf resort in Algarve, including signature villas and the acclaimed clubhouse that won the National Real Estate Award.
• Rafael de La-HozcoreStrategic or Co-development PartnerAward-winning architect Rafael de La-Hoz designed La Finca by Kronos Homes in Sotogrande and The Edge residential complex on the Costa del Sol waterfront.
• Eduardo Souto de MouracoreStrategic or Co-development PartnerPritzker Prize-winning architect Eduardo Souto de Moura designed The One by Kronos Homes in Lisbon, representing a flagship partnership for the Portuguese market.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Greystar: Global leader in build-to-rent development and operation. Comparable to the Stay by Kronos platform on BTR operating model, though at vastly larger scale and global geographic reach.
• Merlin Properties: Spanish SOCIMI (REIT) with a large portfolio of commercial assets including retail parks. Comparable to the Way by Kronos commercial parks segment on asset type and Iberian footprint, though at much larger public-company scale.
• CBRE Investment Management: Large global real estate investment manager with European BTR programs. Comparable as a potential institutional capital partner and BTR operator alongside Kronos's Nuveen-backed model.

Direct peers

• Azora: Spanish real estate investment manager with a strong build-to-rent platform and prior management of large Spanish residential portfolios. Carlos Rodríguez-Bailón joined Kronos from Azora, and the BTR strategy at Stay by Kronos closely mirrors Azora's institutional BTR model.
• Vía Célere: Spanish residential developer (currently owned by Bain Capital) operating across Spain's major metros. Comparable to Kronos Homes in unit volumes, geographic footprint, and buyer profile.
• Grupo Lar: Spanish real estate developer with Iberian and Latin American operations spanning residential and commercial. Multiple Kronos senior executives (Holgado, Meneses, Rodríguez-Bailón, Herráez) came from Grupo Lar, and the strategies are highly aligned.
• Habitat Inmobiliaria: Spanish residential developer active in primary and secondary Spanish markets with a similar mid-to-high product positioning. Directly comparable to Kronos Homes on segment and Iberian focus.
• Neinor Homes: Spanish residential developer listed on the Madrid Stock Exchange with a comparable Iberian BTS/BTR strategy. Overlaps directly with Kronos Homes on build-to-sell and has an emerging BTR platform, making it the closest publicly traded comparable.
• Metrovacesa: Listed Spanish real estate developer with one of the country's largest residential land banks. Comparable to Kronos on residential development scale and Spanish market positioning.
• Aedas Homes: Madrid-based residential developer focused on build-to-sell in Spain's primary markets. Highly comparable to Kronos Homes on geography, product type, and target buyer segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kronos-real-estate-group
• Instagraminstagram.com/kronoshomes

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kronos Real Estate Sl.