The old BelaOlhão animal feed plant in Olhão’s industrial district, across from the Algarve fishing docks, has been purchased for €9.5 million. The municipality revealed that Carvoeiro Branco, the new owners, envision a vibrant, multifaceted development spanning 20,000 square meters; a €300 million venture.
The site is slated to become a blend of living spaces and tourism offerings, boasting approximately 500 apartments alongside a high-end hotel, encompassing a total building area of 70,000 square meters. ANTRIX, an affiliate of Carvoeiro Branco, will spearhead this undertaking, projected to generate around €300 million.
This emerging real estate firm seeks to broaden its footprint beyond the region, solidifying its stake in the Iberian market. ANTRIX is actively pursuing fresh opportunities in Lisbon, Montijo, Setúbal, and southwestern Spain.
Adding to the public benefit, the plan includes providing Olhão City Council with 250 free, permanent parking spots, creating valuable extra public parking.
Erik de Vlieger, Carvoeiro Branco’s CEO, a company with 1,400 units in development, regards the project as setting a new benchmark for luxury and excellence in Olhão, providing an unparalleled experience for both residents and tourists.
Olhão’s mayor, António Miguel Pina, stated that the project will not only elevate the city’s appearance but also fuel the municipality’s revitalization efforts, specifically referencing the renewed Avenida 16 de Junho, with its expanded and improved waterfront.
