Buyers can find this approved 4-star aparthotel development plot for sale in Olhos de Água, Albufeira, in Portugal’s Algarve. The asking price is €13,900,000 for the 60,125 m² plot and approved project. It offers a sizeable commercial investment opportunity for a developer planning a tourism business with rental potential. The project allows the construction of an aparthotel for touristic use. Up to 150 units are permitted within the approved scheme. The buildings may reach a maximum of two storeys. The planned construction area totals 19,800 m². A further 4,800 m² of basement area is included in the approved development parameters. The purchase price covers the land and the approved project. Construction costs are not included in the advertised price. The site is approximately 2 kilometres from the nearest beach. Olhos de Água is around 2.5 kilometres away, providing access to local services, restaurants and coastal attractions. Albufeira is approximately 7 kilometres from the plot. Golf facilities can be reached in about 3 kilometres. Faro Airport is approximately 32 kilometres away for international accessibility. The Algarve’s established tourism market may support seasonal and year-round accommodation demand. An approved project can help investors progress towards development without starting the planning process from the beginning. The scale of the land provides flexibility for a substantial hospitality concept, subject to the approved plans and applicable regulations. The commercial classification is suited to buyers seeking to develop and operate a tourism-led asset. Potential returns, occupancy and final rental performance will depend on construction, management, market conditions and the completed scheme. Contact ICONICA Properties to request the project information and arrange a consultation 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
