Yes, a €13.9 million Algarve development site with an approved 150-unit aparthotel project is available in Olhos de Água. The opportunity comprises a 60,125 m² plot and approval for a four-star tourist aparthotel. The asking price covers the plot and approved project, while the construction of the buildings remains the buyer's responsibility. The scheme permits a maximum of 150 units. The approved buildings can reach up to two storeys. Planned construction totals 19,800 m². A basement area of 4,800 m² is also included in the project parameters. This provides a substantial platform for a professionally planned hospitality development. The site is located at Pine Valley Resort within the Albufeira municipality. The nearest beach is approximately 2 kilometres away. Olhos de Água is about 2.5 kilometres from the property. Albufeira lies around 7 kilometres away and is recognised for its established holiday market. Golf facilities are approximately 3 kilometres from the site. Faro Airport is about 32 kilometres away, helping connect the future aparthotel with overseas demand. The coastal location may support holiday rentals, extended stays and a range of leisure-led accommodation strategies. A four-star aparthotel classification can provide a clear positioning framework for future branding and operations. Investors could consider development, ownership and operation, or a partnership with an experienced hospitality company. Any projected ROI, occupancy level or rental income must be confirmed through independent market research and financial modelling. Buyers should also verify the approval, construction requirements, licensing and infrastructure arrangements before exchanging contracts. Supporting documents are available to assist with the initial assessment. This is a rare scale of approved tourism opportunity in a well-known Algarve destination. Contact us today to request the full details and arrange a site inspection.
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
