The 25,060 square metre development plot with an approved project for up to 137 tourist units is offered at €8,900,000 in Olhos de Água, Albufeira. The price covers the plot and approved project, but it does not include the cost of constructing the resort. This makes the opportunity suitable for buyers assessing the acquisition cost of a large, planning-led Algarve tourism development. Located at Pine Valley Resort in Vale Navio, the commercial site provides considerable scope for a substantial hospitality scheme. The approved concept is centred on a wellness resort with communal facilities. Its two eastern buildings are planned around health and wellness activities. Reception facilities, shared areas and a fully equipped clinic specialising in rejuvenation are included in the eastern concept. The two western buildings are designed for a more relaxed family-oriented experience. Families using the western wing would also be able to access the wider wellness facilities and communal amenities. A maximum of 137 units creates the potential for a sizeable accommodation operation. The number of units may support several revenue streams, including tourist stays, wellness programmes and related services, subject to implementation and licensing. The nearest beach is approximately 4 kilometres away. Olhos de Água can be reached in about 2.5 kilometres, while Albufeira is approximately 7 kilometres from the site. A golf course is around 3 kilometres away, strengthening the location’s appeal to holidaymakers. Faro Airport is approximately 32 kilometres distant, supporting access from international markets. The site therefore combines an approved development concept with proximity to beaches, golf and established Algarve destinations. Investors can use the stated €8.9 million price as a starting point for assessing land acquisition, construction finance and potential operating returns. Detailed due diligence should include confirmation of planning conditions, project validity, infrastructure obligations and the full build budget. Speak with ICONICA Properties to obtain the project documents and discuss whether this development matches your investment strategy.
Usage
Commercial
Type
Plot
Town
Olhos de Água
Parish
Albufeira e Olhos de Água
Municipality
Albufeira, Faro
Region
Algarve (Central)
Plot Area
25.060 m²
● Distance to the nearest beach - 4 km
● The price includes the plot and the approved project but not the construction of the building
This plot has an approved project for a Wellness Resort. The development is divided in two main areas with a maximum of 137 units. The two east buildings will focus more on health and wellness of the resort. They will have a reception and other communal facilities but also feature a fully equipped clinic specialized in rejuvenation.
The two west buildings will have a more relaxed feel appropriate for families. The west wing will also have access to the wellness facilities and other communal amenities.
Location
• Distance to the nearest beach - 4 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
