The 60,125 m² development plot near Olhos de Água is offered for €13.9 million. The price includes the land and an approved project for a four-star aparthotel, but construction costs are not included. Buyers looking for a sizeable Algarve tourism development site can therefore acquire an approved opportunity close to the coast. The approved scheme allows up to 150 tourist units. It also provides for a maximum of two storeys. The proposed development includes 19,800 m² of construction area. A further 4,800 m² of basement area is included in the approved project. This scale gives developers considerable scope for creating a substantial aparthotel operation. The plot is situated in Pine Valley Resort in Olhos de Água. The nearest beach is approximately 2 kilometres away. Olhos de Água itself is around 2.5 kilometres from the site. Albufeira is approximately 7 kilometres away, offering restaurants, shops, nightlife and established tourism infrastructure. Golf facilities are available about 3 kilometres from the property. Faro Airport can be reached in approximately 32 kilometres. Its location supports a tourism-led business model with access to beaches, golf and regional attractions. The four-star classification may help position the future aparthotel towards holidaymakers seeking quality accommodation. Up to 150 units could provide meaningful rental and operational potential once construction is completed. Investors should assess build costs, financing, operating assumptions and projected returns before proceeding. Planning documentation and supporting property documents are available for due diligence. This opportunity is suitable for developers, hospitality operators and investment groups seeking an Algarve project with approved development parameters. Contact us now for further information, documentation and to arrange a site visit.
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
