This investment plot near an Algarve beach includes an approved project for a four-star tourism aparthotel in Olhos de Água. The 60,125 m² commercial site is available for €13,900,000, including the plot and approved project but excluding construction. It is an attractive option for buyers seeking planning-approved development land close to the coast. The nearest beach is only about 2 km away. The approved plan allows up to 150 tourism units. Development is limited to a maximum of two storeys. The scheme provides for approximately 19,800 m² of above-ground construction. A further 4,800 m² of basement space is part of the approved parameters. The generous land area supports a substantial resort-style hospitality project. Olhos de Água is approximately 2.5 km from the site. Albufeira is around 7 km away. The nearest golf course is approximately 3 km distant. Faro Airport is about 32 km away by distance. These connections can help appeal to international holidaymakers and golf tourists. The Algarve is recognised for its beaches, outdoor lifestyle and year-round visitor appeal. An approved tourism project can give developers a clearer starting point than entirely unplanned land. Investors may consider rental accommodation, an aparthotel operating business or a joint venture with a specialist operator. The 150-unit scale offers the possibility of creating varied accommodation and service packages. Expected returns depend on the final design, construction budget, financing, management and market performance. Buyers should confirm the planning approval, technical conditions and development timetable before committing. Construction is not included and must be arranged and funded by the purchaser. Contact us to obtain further details and schedule a viewing of this approved Algarve development site.
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
