Buyers looking for an approved aparthotel development site in Olhos de Água can consider the Pine Valley plot in the Algarve. The property is a 60,125 m² commercial plot with an approved project for a four-star aparthotel. The asking price is €13,900,000, excluding construction of the proposed buildings. Planning approval allows up to 150 aparthotel units across buildings of no more than two storeys. The permitted construction area is approximately 19,800 m². An additional basement area of approximately 4,800 m² is also included in the approved parameters. This provides a substantial platform for a large-scale tourism scheme. The nearest beach is around 2 km away, giving the future development a strong coastal lifestyle connection. The plot is approximately 2.5 km from Olhos de Água and 7 km from Albufeira. Local beaches, restaurants and visitor amenities are accessible within the surrounding area. Golf is available approximately 3 km away. Faro Airport is approximately 32 km from the development site. These distances may help the project appeal to holidaymakers arriving from Portugal and overseas markets. The approved use is particularly relevant to developers and hospitality operators seeking a tourism-led asset. Future income could potentially be generated through short-term aparthotel rentals, subject to completion and successful operation. The final revenue profile will depend on design, management, market conditions and the overall investment strategy. The purchase includes the plot and project approval, not the construction works or completed accommodation. Buyers should budget for building costs, professional services, infrastructure and statutory requirements. Project documentation is available to support an informed due diligence process. The Pine Valley setting offers a rare opportunity to plan a sizeable Algarve aparthotel close to the coast. Contact us to request further information or arrange a viewing of the development site.
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
