Developers can find this approved tourism project just 2 kilometres from a beach in Olhos de Água, Algarve, Portugal. The €13,900,000 opportunity combines a 60,125 m² commercial plot with an approved 4-star aparthotel project. The advertised price includes the land and approval, but construction of the aparthotel is excluded. The approved concept is intended for touristic use. It allows up to 150 units across buildings limited to two storeys. The planned above-ground construction area is 19,800 m². Basement accommodation or facilities may extend to a further 4,800 m². The substantial landholding offers room for a large-scale hospitality development within the approved parameters. Olhos de Água is approximately 2.5 kilometres from the site. Albufeira is around 7 kilometres away and provides a broad range of tourist services and amenities. Golf facilities are approximately 3 kilometres from the plot. Faro Airport is located around 32 kilometres away. The beach proximity may help a future aparthotel appeal to holidaymakers seeking an Algarve coastal base. The area’s established tourism profile can support a detailed assessment of accommodation demand. Developers may also benefit from having an approved project framework before progressing to construction planning. The opportunity could suit a hotel group, property fund, tourism operator or joint-venture development team. Any projected rental income, occupancy rate or ROI should be calculated after reviewing the design, costs, financing and operating model. The project approval does not remove the need to meet all construction, licensing and regulatory requirements. Professional due diligence is recommended before exchanging contracts. Request the project documents from ICONICA Properties and explore whether this Algarve development matches your investment strategy.
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
