Property Description

Building Plot in Faro

Discover an exceptional opportunity with this expansive 31,170m² plot of land located in the burgeoning city of Faro. Nestled in a rapidly growing area, this parcel is strategically positioned near the Fórum Algarve, ensuring convenient access to various amenities and services. Moreover, it is merely an 8-minute drive from the Airport and a mere 10-minute drive from the pristine beaches of Faro. The land comprises 9 individual lots, totaling 31,170m², showcasing a generous construction index of 60%. This translates to an impressive potential built-up area of 18,702m². Notably, the land benefits from an already approved subdivision project by the Municipal Council of Faro, envisioning the construction of 157 residential units, including a mix of apartments and retail spaces. The property is easily accessible with well-maintained asphalt roads, and it boasts fully developed infrastructure, including water, electricity, and sewage connections. The level topography of the land adds to its development appeal, providing a hassle-free canvas for realizing your construction aspirations. In summary, this is a rare and lucrative investment opportunity in the thriving city of Faro, offering a pre-approved project for 157 residences amidst a rapidly developing locale. Don't miss the chance to be part of Faro's growth story and secure this prime piece of real estate for your next development venture.
Energy Rating: Exempt
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