The asking budget for the 60,125 m² Pine Valley tourism site near Albufeira is €13,900,000. This price includes the commercial plot and the approved four-star aparthotel project, but it does not include construction costs. The approved development provides for up to 150 tourist units in buildings of no more than two storeys. The site therefore requires a separate construction and operational budget beyond the purchase price. The proposed scheme includes approximately 19,800 m² of construction area. It also includes around 4,800 m² of basement area. Buyers should account for design, construction, infrastructure, professional fees, finance, licensing requirements and contingency costs. The exact total development budget will depend on the final plans, specifications, procurement method and market conditions. Pine Valley is located in Olhos de Água within the Albufeira municipality. The nearest beach is approximately 2 kilometres away. Olhos de Água is around 2.5 kilometres from the site. Golf courses are approximately 3 kilometres away. Albufeira town is about 7 kilometres from the proposed tourism development. Faro Airport is approximately 32 kilometres away for access by international visitors. This location combines beach accessibility with proximity to golf, hospitality services and established tourist infrastructure. The 150-unit capacity may offer meaningful scale for a professionally managed aparthotel. Its rental potential could appeal to investors targeting holiday accommodation in the Algarve. Any ROI assessment should be based on verified construction costs, projected occupancy, room rates, staffing and ongoing management expenses. The approved project gives a buyer a defined development concept, although all conditions and documents should be independently checked. Contact ICONICA Properties to request further information, review the budget requirements and discuss this Pine Valley investment.
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
