An approved 137-unit touristic apartment project near Albufeira is offered for €8,900,000. The sale includes the 25,060 m² plot and the approved project, while the cost of constructing the buildings is not included. This makes it a major Algarve development opportunity for buyers assessing a wellness-led tourism scheme. Located in Olhos de Água, the project is approximately 7 kilometres from Albufeira. The plan allows for a maximum of 137 units across two principal areas. The eastern buildings are intended to support health and wellness activities. Proposed facilities include a reception, communal areas and a fully equipped rejuvenation clinic. The western buildings are planned with families and relaxed resort stays in mind. Family guests would be able to use the wider wellness facilities and communal amenities. The concept therefore combines specialist wellbeing accommodation with broader holiday demand. The nearest beach is approximately 4 kilometres away. Olhos de Água itself is around 2.5 kilometres from the plot. Golf is available approximately 3 kilometres away, adding an important attraction for visitors. Faro Airport is approximately 32 kilometres from the development, supporting access for international guests. The size of the site provides scope for a substantial, professionally managed resort rather than a small residential scheme. A future operator could explore accommodation income alongside wellness treatments, health programmes and related guest services. The approved project may reduce the early planning uncertainty normally associated with identifying and designing a large resort proposal. Nevertheless, construction budgets, operating costs, licensing conditions and expected returns require detailed professional assessment. The property is suitable for buyers seeking a high-value commercial investment in the Algarve tourism market. Contact ICONICA Properties for the approval documents, project information and next steps.
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
