A substantial investment opportunity is available to buy a plot in Olhos de Água with an approved project for a four-star aparthotel. The Pine Valley site is offered for €13,900,000 and combines tourism planning consent with significant development potential. The approved scheme allows up to 150 tourist units across a maximum of two storeys. The purchase price includes the land and approved project, but not the construction of the building. The total plot measures approximately 60,125 m². The approved plans provide for around 19,800 m² of construction area. A further 4,800 m² of basement area is included within the proposed development parameters. This scale creates scope for a substantial hospitality operation in one of the Algarve’s established tourism areas. Olhos de Água is approximately 2.5 kilometres from the site. The nearest beach is around 2 kilometres away, supporting a convenient coastal holiday proposition. Golf facilities can be reached within approximately 3 kilometres. Albufeira is about 7 kilometres away and provides restaurants, shops, nightlife and additional visitor attractions. Faro Airport is approximately 32 kilometres from the development. A four-star aparthotel could appeal to holidaymakers seeking flexible accommodation close to beaches and golf. The approved tourist use may help an investor move more efficiently from acquisition towards detailed development and construction planning. The 150-unit capacity offers potential for diversified rental income rather than reliance on a single property. Long-term returns will depend on construction costs, financing, management, occupancy and market performance. Buyers should independently verify the planning documentation, permissions and commercial feasibility before proceeding. The opportunity may suit a developer, hospitality group or investor seeking a large Algarve tourism project. Contact ICONICA Properties to request the available documentation and discuss this investment today.
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
