Development Land In Faro

Excellently situated in Gambelas, Faro, in the heart of the stunning Algarve, this large plot offers a unique investment opportunity with an approved project for the construction of 47 apartments, as well as a commercial establishment. With a generous area of 13,460 square meters, this project encompasses four distinct lots, each consisting of four three-storey blocks (A, B, C, and D), totalling 3 apartments per block, with the exception of block A on lot 1, which incorporates a retail store on the ground floor.

Each block has a footprint of 180 square meters, with a maximum above-ground construction area of 315 square meters, distributed between 105 square meters for the ground floor and 210 square meters for the upper floors. The basement/garage provides 64 private parking spaces, complemented by 46 public parking spaces, for a total of 112 spaces.

Standing out for its commitment to quality of life, the land reserves a generous area of 2,628 square meters for green spaces, swimming pools, a children’s playground and a multipurpose field, exclusively intended for the private use of residents. In addition, it has a public utility area of 4,561 square meters, dedicated to collective equipment, green spaces, streets, sidewalks and parking lots, as provided for in Ordinance 216-B/08 of 03/03.

This property is strategically located just 1 km from the prestigious University of Algarve (Gambelas campus) and Hospital Particular do Algarve, 3 km from Faro airport, 5 km from the stunning Faro Beach and 6 km from Faro city centre. Enjoy all the benefits of a modern and convenient life, surrounded by education, health services, shopping options, public transport, green spaces, and sports and leisure facilities.

Don’t miss the opportunity to explore this exceptionally planned investment project. Come and witness the harmonious fusion between urban functionality and the serenity of the Algarve.
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