The 60,125 m² development plot near Albufeira is offered for €13,900,000. This price includes the land and an approved project for a 4-star aparthotel in Olhos de Água. It does not include the cost of constructing the proposed buildings. The commercial plot is positioned within the Pine Valley Resort development. Its approved tourism scheme permits up to 150 aparthotel units. The buildings can be designed up to a maximum of two storeys under the approved parameters. The proposal includes 19,800 m² of construction area. It also provides for 4,800 m² of basement area. Such a large development footprint may suit an experienced hospitality developer or investment group. The location is approximately 2 kilometres from the nearest Algarve beach. Olhos de Água is about 2.5 kilometres away. Albufeira town is roughly 7 kilometres from the site. A golf course is located approximately 3 kilometres away. Faro Airport can be reached at a distance of around 32 kilometres. These connections place the plot within reach of beaches, leisure facilities and airport links. The approved project may reduce early-stage planning uncertainty compared with an undeveloped site. A completed aparthotel could target holidaymakers, longer-stay guests or a mixed tourism model, subject to final design and licensing requirements. The Algarve is a recognised visitor destination with demand that varies by season and accommodation type. Investors should assess construction budgets, operating costs, financing and projected occupancy before committing. The €13.9 million purchase price should therefore be considered alongside the full development and operating plan. Ask ICONICA Properties for the documentation and arrange a detailed discussion about this development opportunity.
Usage
Commercial
Type
Plot
Town
Olhos de Água
Parish
Albufeira e Olhos de Água
Municipality
Albufeira, Faro
Region
Algarve (Central)
Plot Area
60.125 m²
● Distance to the nearest beach 2 km
● The price includes the plot and the approved project but not the construction of the building
This plot has an approved project proposing the implantation of a 4 Star aparthotel for touristic use.
The total plot area has 60,125m² with a construction area of 19.800m² plus 4.800m² of basement area.
The approved construction of the buildings permits a maximum of 2 storeys and 150 units.
Location
• Distance to the nearest beach - 2 kms
• Distance to Faro airport - 32 kms
• Distance to Golf - 3 kms
• Distance to Olhos de Água - 2,5 kms
• Distance to Albufeira - 7 kms
