The asking price is €8,900,000 for a 25,060 m² development plot near Albufeira with an approved project for a wellness resort of up to 137 tourist units. The price includes the land and approved project, but construction costs are not included. This represents an opportunity for buyers seeking a large, approved tourism development in the Algarve. Located in Olhos de Água, the plot is approximately 4 kilometres from the nearest beach. The site is also around 2.5 kilometres from Olhos de Água and 7 kilometres from Albufeira. Faro Airport is approximately 32 kilometres away, supporting access for international visitors and future guests. Golf facilities are available about 3 kilometres from the development. The approved concept is divided into two principal areas with different guest experiences. The two eastern buildings are planned around health and wellness services. They include reception and communal facilities within the proposed resort structure. A fully equipped clinic specialising in rejuvenation is also planned for the eastern area. The two western buildings are intended to offer a more relaxed environment suitable for families. Guests in the family-oriented wing would also have access to the wellness facilities and shared amenities. The layout creates potential for a balanced resort combining health, relaxation and family tourism. Buyers can investigate the rental potential of up to 137 units within a recognised Algarve holiday destination. The approved planning framework may help reduce early-stage development uncertainty compared with a site requiring a new project application. Any projected ROI, operating model and construction budget should be independently assessed before purchase. The commercial classification makes the property relevant to hotel groups, wellness operators and development investors. Contact ICONICA Properties to request the project information and arrange a viewing of this investment opportunity.
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
