€300 million project for former Olhão factory

 In News, Property, Real Estate, Residential Real Estate

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”.