An approved 150-unit aparthotel development near the Algarve coast is available to buy for €13,900,000. The opportunity comprises a 60,125 m² commercial plot in Olhos de Água, near Albufeira. The purchase price includes the plot and approved project, but excludes construction of the aparthotel. The approved scheme is for a 4-star establishment intended for tourist use. It allows approximately 19,800 m² of construction plus 4,800 m² of basement area. The buildings may be developed over a maximum of two storeys. Investors could consider several strategies, including retaining the completed aparthotel as a rental business. Another option could involve a professional hotel operator or a partnership with an established hospitality brand. The 150-unit scale may also support phased planning, subject to the relevant approvals and technical feasibility. The site is positioned approximately 2 kilometres from the nearest beach. Its distance of around 3 kilometres from golf adds appeal for leisure and sports tourism. Olhos de Água is roughly 2.5 kilometres away, while Albufeira is approximately 7 kilometres from the development. These nearby destinations provide access to dining, shopping, entertainment and seasonal visitor attractions. Faro Airport is about 32 kilometres away, making the project accessible to overseas owners, guests and business partners. Year-round tourism in the Algarve may help support a broader operating season than a purely summer-focused resort. A completed aparthotel could offer accommodation revenue, management income and potential capital appreciation, depending on execution and market performance. The approved project can give buyers a defined development framework and a clearer basis for due diligence. Project returns should be modelled against land cost, construction, finance, staffing, marketing, licensing and ongoing maintenance. No guaranteed rental yield or ROI is stated, so investors should obtain independent financial and legal advice. Contact us to review the documentation and assess this coastal Algarve investment opportunity.
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
