The cost of building an aparthotel in Olhos de Água is tied to the innovative project already approved for this prime plot of land. Priced at €13,900,000, this investment not only secures the land but also includes exhaustive project documentation for a catered 4-star aparthotel, setting the stage for a significant financial return.
Estimating construction expenses will depend on various factors, including design choices and materials, but with a total construction area of 19,800m², investors can expect substantial development potential in an area renowned for tourism. The approved scheme allows for 150 units across two storeys, tailored to meet the growing demands of holiday accommodation.
Olhos de Água’s strategic positioning ensures investors benefit from its proximity to beautiful beaches, just 2 km away, and a golf course only 3 km distant, which collectively attract numerous tourists each year. Managers of this development will enjoy a built-in client base in an area known for the influx of visitors.
Given the ongoing tourism growth, the opportunity to introduce such upscale accommodation is promising. With varied culinary and shopping experiences nearby, the site is perfect for holiday-makers seeking convenience and luxury.
For those interested in developing this project, it's essential to review the approved plans and consult with local construction experts. Don’t hesitate to reach out for more information on this lucrative 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
