Description
This land of 34,640 square meters represents an excellent opportunity to develop a large-scale residential project in one of the most sought-after cities in the Algarve. Centrally located in Lagos, the plot benefits from excellent access, south-facing sun exposure, and wide views over the city, the marina, and the sea. Situated within the urban perimeter, the plot has an already approved urban development plan, allowing for the construction of five lots intended for multi-family residential buildings with four above-ground floors and underground parking. The footprint area is 8,884 square meters, and the gross construction area reaches 16,929 square meters, with the possibility of building up to 112 housing units. With a gentle slope, the land allows for a balanced layout, favoring integration with the surroundings and enhancing the views. The planned public space allocation exceeds 22,000 square meters and includes green areas, sidewalks, roads, and areas for public facilities, ensuring a high-quality urban living environment. There is also an existing urban area of 235 square meters, where a traditional single-storey house with 81.5 square meters and four bedrooms is located, along with a connection to the electricity grid. The plot also preserves some fruit trees, adding a natural and regional touch. The location is one of its greatest assets, just three minutes from the Lagos marina, five minutes from the historic center, and about 50 minutes from Faro International Airport. The region’s most iconic beaches are less than 10 minutes away. Lagos is a historic city with an active cultural life, award-winning beaches, and growing demand in both the residential and tourism sectors. This plot offers the perfect balance of location, scale, and feasibility, making it an ideal solution for investors and developers seeking a project with high return potential.
