Land for sale in Funchal, Portugal — €950,000

About this land

Original listing description, in Portuguese.

Unique investment opportunity in one of Madeira’s most prestigious locations. This urban plot of 530 sqm is located in Ajuda, Funchal, close to the ocean, luxury hotels, shopping centres, restaurants and all essential services. A planning study indicates the possibility of developing a modern residential building with approximately 901 sqm of gross construction area, making it an excellent opportunity for developers and investors. Proposed Development: - Basement level with approximately 265 sqm for parking, technical areas and storage. - Ground floor access gallery. - Residential apartments on floors 1 to 4. - Rooftop leisure area with social space, solarium and jacuzzi. Urban Planning Parameters: - Plot Area: 530 sqm - Maximum Footprint: 265 sqm - Maximum Gross Construction Area: 901 sqm - Construction Index: 1.70 - Maximum Floors: 7 - Maximum Building Height: 29 metres Ideal for a luxury residential development in one of Funchal’s most sought-after areas. (FC-28)