This commercial plot in the Algarve offers an approved 4-star aparthotel development with potential for tourism rental income. Located in Olhos de Água near Albufeira, it is listed for €13,900,000. The sale includes the 60,125 m² plot and approved project, while construction costs remain separate. The approved plans permit up to 150 aparthotel units. Development is limited to a maximum of two storeys. The scheme provides for 19,800 m² of construction area. It also includes 4,800 m² of basement space. These parameters give investors a substantial basis for assessing a large hospitality operation. The nearest beach is approximately 2 kilometres away. Olhos de Água is around 2.5 kilometres from the plot. Albufeira is about 7 kilometres away with its established visitor infrastructure. A golf course is approximately 3 kilometres from the site. Faro Airport is around 32 kilometres away. The combination of beach access, golf proximity and Algarve connectivity may support the attraction of holiday guests. A 4-star positioning could provide a clear market concept for an operator developing quality tourist accommodation. The approved status may help buyers evaluate the opportunity more efficiently than a plot requiring an entirely new project. Rental potential will depend on the completed accommodation, management quality, pricing, seasonality and local competition. Investors should prepare a full feasibility study covering construction, finance, staffing, maintenance and compliance. No guaranteed ROI or rental yield is stated in the property information. This opportunity is particularly relevant to developers and commercial investors seeking a sizeable tourism asset in a recognised Algarve destination. Contact ICONICA Properties to obtain further details and arrange a professional review of the project.
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
