Olhão Council has sold land between the Real Marina Hotel and the city, officially known as Lot No 3 of the Porto de Recreio, to Cenparque Imobiliária.
The €5 million price was offered in a sealed bid process, won by a developer registered in Braga but well known in the Algarve.
The opening of bids, under the terms of the poorly promoted public tender, was held on 1 June in the Council offices.
The winning company, Cenparque Imobiliária, is responsible for the Delmar development in Fuseta, located on the water’s edge in Public Maritime Domain which remains a suspicious and ‘legally dubious’ project, according to local blog, Olhao Livre which also points to the current auction as being a fait accompli as the company also is building the adjacent Delmar Marina block of apartments, prices between €300,000 and €750,000, and offered exactly the minimum price registered on the hard-to-find auction details.
Mayor António Pina said this sale is, "a further step towards the modernisation and upgrading of the Olhão's Ribeirinha Front."
According to the Council, after the bids were opened, and "once all the documentation had been verified, the committee decided to award the sale to Cenparque Imobiliária, Lda., which has presented a proposal of €5 million.”
This lot by the Real Marina Hotel & Spa, has permission for a 6,000 m2 building on a construction area of 17,500 m2.
The final sale will go through towards the end of 2019, according to the Council.
There will be few local complaints as residents are more interested in the preservation of the historic centre that in new hotels or apartment blocks on the outskirts of the city. Olhão suffers from a lack of hotel space and the use of wasteland for an economic activity is broadly welcomed, especially by those whose incomes depend on tourist euros.
