The 60,125 m² development plot near Albufeira is offered for €13,900,000. It includes an approved project for a 4-star aparthotel with tourist-use potential in the Olhos de Água area. Construction costs are not included, so buyers should budget separately for building, infrastructure, fit-out and operating requirements. The approved concept permits up to 150 accommodation units. It provides for approximately 19,800 m² of above-ground construction area. The plans also include around 4,800 m² of basement space. Buildings can have a maximum of two storeys under the approved parameters. This sizeable development platform may appeal to hotel groups, developers and private investment partnerships. The location places the future aparthotel about 2 kilometres from the closest beach. The nearest golf course is approximately 3 kilometres away. Olhos de Água is around 2.5 kilometres from the site, providing access to local services and coastal amenities. Albufeira lies approximately 7 kilometres away and is known for its broad visitor economy. Restaurants, entertainment, beaches and retail facilities in the wider area can support tourist demand. Faro Airport is approximately 32 kilometres away, helping connect the development with international markets. The property is a commercial plot at Plot 159, Pine Valley Resort. Its approved status may help investors move forward with a defined hospitality concept rather than beginning with a blank site. The 150-unit capacity creates opportunities to develop a managed aparthotel with multiple accommodation formats. Rental income and return on investment will depend on construction expenditure, financing, occupancy, pricing and professional management. Buyers should review the planning approval, technical documents and full development budget with qualified advisers. Contact us now for the current project information and to explore the purchase of this Algarve development plot.
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
