This commercial plot for sale in the Algarve offers approved plans for a 4-star aparthotel in Olhos de Água. The property is priced at €13,900,000 and comprises a total land area of 60,125 m². It is sold with the approved project, although the construction of the buildings remains the buyer’s responsibility. The proposal is intended for tourist accommodation and permits a maximum of 150 units. Approved construction totals approximately 19,800 m², with an additional 4,800 m² of basement area. The buildings can reach up to two storeys. This combination of land size and development capacity is suited to a significant hospitality-led scheme. The plot is approximately 2 kilometres from the nearest beach. Golf facilities are available around 3 kilometres away. Olhos de Água is approximately 2.5 kilometres from the site and offers a recognisable coastal setting within the municipality of Albufeira. Albufeira is around 7 kilometres away and provides a large network of tourist services and leisure attractions. The location may appeal to visitors seeking beaches, golf, restaurants and the wider Algarve lifestyle. Faro Airport is approximately 32 kilometres away, supporting access from domestic and international destinations. The site is recorded as Plot 159 at Pine Valley Resort. Buyers looking for approved commercial development land can use the existing project as a starting point for technical and financial evaluation. The intended 4-star positioning may support a premium accommodation strategy if the final design and operation meet market expectations. Potential income could come from holiday stays, aparthotel rentals or a professionally managed tourism business. Actual performance will depend on construction delivery, licensing, market demand, operating costs and the final accommodation product. Interested parties should inspect the planning documents and confirm all conditions before committing to the acquisition. Contact us today to obtain further details about this approved aparthotel plot.
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
