Petra land transfer unlocks 19 social homes

Nineteen publicly subsidised homes can now be planned on an urban plot in Petra after the Balearic Government approved its free transfer. The Consell de Govern signed off the handover to the Balearic Housing Institute, known as Ibavi, on Friday, 11 September. A second, rural site in Petra will be used to plan another future housing scheme.

Both plots were owned by Gestur, SA, a company with majority public capital attached to the Ministry of Housing, Territory and Mobility. The Balearic autonomous community holds a 49.33% stake in the company.

Gestur’s general shareholders’ meeting agreed on 19 June 2025 to distribute a dividend from voluntary reserves among its shareholders. The two Petra sites form part of that dividend and are valued at €636,800 and €28,638 respectively.

Topics: Housing · Politics · Petra

Source: Europa Press / Mallorca.com