€1,065,000

We present a compelling investment opportunity in Olhão, one of the Algarves most dynamic and sought-after cities. This 712 sq.m plot of land is situated in a calm and pleasant residential area, just a short distance from the Health Centre and a nearby commercial area offering shops, a gym, a pharmacy, and other essential services. The plot benefits from approved construction feasibility for a six-storey residential building, including a basement level with garage and storage areas. A project for the development is already approved, and the respective construction licence is issued and pending payment, meaning it can be activated at any time and construction may commence immediately thereafter. This represents a significant advantage in terms of timing and project execution. The approved project foresees the construction of 20 apartments, with layouts ranging from two-bedroom to four-bedroom units, designed to offer generous interior spaces. Particular emphasis is given to the top-floor apartments, each benefiting from a private terrace of approximately 80 sq.m, offering open views over the city and towards the sea, creating an exceptional outdoor living area. The basement level includes private storage rooms and additional parking spaces, ensuring functionality and convenience for future residents. With easy access to main road connections and Faro International Airport just 15 minutes away, this plot represents an excellent opportunity for investors seeking a well-located project with an approved development framework in the Algarve. For further details about this investment opportunity, please contact us. AlgarveProperty.com - AMI: 2196 - T.: 00351 289310310