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Property description
Prime Location with Approved Urban PlanSituated just 900 metres from Lagos Marina and within easy reach of key landmarks, this strategically positioned development plot in Falfeira, Lagos, presents a well-substantiated investment opportunity. The property is located within the area governed by the Lagos Urbanisation Plan and comes with an approved urbanization project (PIP), streamlining the development process. It has been designated for multi-family residential buildings, covering five plots with a total capacity of 112 housing units.
Outstanding Location with Immediate Access to Amenities
Set on the gentle incline of a south-facing plot, the land offers wide-open views across the cityscape, the marina, and out to sea. Its location bridges natural surroundings with urban convenience:
Lagos Old Town: Approximately 5 minutes by car (~2.5 km)
Lagos Marina: 900 m
Meia Praia Beach: About 2.5 km
Palmares and Boavista Golf Resorts: 10–15 minutes by car
Faro International Airport (FAO): under an hour via the A22
This balance between proximity and privacy may appeal to future residents who seek accessibility and tranquillity.
Planning & Construction Parameters
Total Plot Size: 34,640 m²
Intervention Area (SUP): 18,810 m²
Construction Footprint (Implementation Area): 8,885 m²
Total Above-Ground Construction Area: 16,929 m²
Concession Area: 22,384.81 m² allocated for green zones, infrastructure, and pedestrian paths
Permitted Number of Buildings: 112
Zoning Compliance: Articles 73 & 75 of the Lagos Municipal Master Plan
Construction Index: 0.9
Occupancy Index: 0.5
The site is marked by a mild 8% gradient from north to south, becoming nearly flat at its base. This topography, coupled with a lack of dense vegetation or restrictive urban morphology, offers considerable freedom in both architectural expression and spatial configuration.
Design Potential and Urban Integration
The existing approval outlines a four-level basement infrastructure, enabling substantial underground parking—an increasingly essential element in medium- to high-density housing developments. Due to its orientation and elevation, the project has the potential to incorporate design strategies that maximize solar gain, sea views, and landscape permeability. The relationship between public and private domains can be developed meaningfully here, potentially enhancing both the livability and market value of the future apartments.
Key Considerations for Investors
Rather than promising guaranteed outcomes, it is more appropriate to note that current market conditions in Lagos, along with the region's strong appeal to both domestic and international buyers, may support the viability of a project of this scale. The combination of location, existing planning approvals, and potential for future appreciation makes this an appealing asset.
Summary of Strategic Advantages
Existing PIP approval minimises procedural delays
Prime location near city centre, beaches, and transport links
Zoned for high-density residential development
Topography allows architectural versatility
Future-facing area adjacent to the proposed Lagos Urban Park
Interested?
For further documentation or to schedule a visit, please get in touch with our LiveAlgarve Realty Team.
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597,600 €/IMT TAX