€300 million project for former Olhão factory
Olhão Town Council has sold the old animal pet foot factory BelaOlhão to Carvoeiro Branco for €9.5 million.
Part of an ambitious plan to transform the marina at Olhão, the former 20,000m2 factory will be turned into a mixed-use project with both tourist and residential accommodation.
The development will have around 500 apartments and a luxury hotel unit on a construction area of around 70,000m2.
The Algarve project, which will cost around €300 million, will be developed by Antrix, a subsidiary of Carvoeira Branco.
Erik de Vlieger, CEO of Carvoeiro Branco, which currently has 1,400 units in the pipeline, emphasised that “we are committed to creating a development that redefines the standards of luxury and quality in Olhão, offering residents and visitors a unique experience. This project is a testament to Carvoeiro Branco’s commitment to the economic and social development of the region”.