This commercial plot for sale in Olhos de Água is an investment opportunity with an approved project for up to 150 aparthotel units. It is priced at €13,900,000, including the 60,125 m² plot and the approved 4-star aparthotel scheme. Buyers should note that the purchase price excludes construction of the buildings. The proposed development is intended for touristic use. Approval is in place for buildings of up to two storeys. The permitted construction area is 19,800 m². The project also includes 4,800 m² of basement area. This scale may appeal to developers seeking a substantial Algarve hospitality asset rather than a single residential property. The plot is located approximately 2 kilometres from the nearest beach. Olhos de Água itself is around 2.5 kilometres away. Albufeira is approximately 7 kilometres from the development. Golf is available at about 3 kilometres. Faro Airport is roughly 32 kilometres away. The nearby coastline can provide a strong lifestyle and tourism draw for future guests. Local access to Albufeira adds further appeal for visitors seeking dining, entertainment and services. An approved tourism project can offer a clearer framework for feasibility studies, funding discussions and delivery planning. The 150-unit capacity creates potential for multiple accommodation formats within the approved concept, subject to detailed design and legal compliance. Rental income and investment performance will depend on the finished product, operating strategy, seasonality and market demand. Buyers should independently verify the approval, development conditions and all associated costs before purchase. The opportunity is best suited to professional developers, hospitality operators or investors with the resources to complete a major project. Contact ICONICA Properties to review the available documentation and discuss the next steps.
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
