The Government grants two estates in Petra to the IBAVI for protected housing

The Governing Council of the Balearic Islands has authorized the free transfer of two properties located in the municipality of Petra to the Balearic Housing Institute (IBAVI) for the promotion and construction of public protected housing. The agreement, adopted in the session of September 11, 2026, is published in the Official Gazette of the Balearic Islands (BOIB) no. 115, of September 15, 2026, under agreement number 9187.

The measure is part of the Balearic Government’s housing access policy and is based on Article 86 of Law 6/2001, of April 11, on the heritage of the Autonomous Community of the Balearic Islands, which grants the Governing Council the competence to authorize the free transfer of assets with a value exceeding 500,000 euros. The agreement was adopted upon the proposal of the Minister of Economy, Finance and Innovation.

The origin of the properties: the dividend in kind from GESTUR

The two properties come from a dividend in kind distributed by Gestió Urbanística de Balears, SA (GESTUR), a commercial company in which the Autonomous Community of the Balearic Islands holds a 49.33% stake, with a majority of public capital and attached to the Department of Housing, Territory and Mobility. The distribution, agreed upon by the General Shareholders’ Meeting on June 19, 2025, assigned 2,466,500 euros to the CAIB, of which 1,801,040.77 euros were in cash and the remainder in the two properties in Petra.

On May 29, 2026, the Governing Council accepted the dividend in kind and authorized its direct acquisition, and on June 11, 2026, the execution of the corporate agreement was notarized. The properties are registered in the Inventory of assets and rights of the Autonomous Community under asset numbers 100000021818 and 100000021819.

The transferred properties and their value

The properties subject to the transfer are as follows:

• Urban property no. 7458 of Petra, CRU 07029000103040 (vol 4353, book 344, page 199), with cadastral reference 0055906ED1805N0001GZ, valued at 526,298.73 euros plus 110,522.73 euros in VAT.
• Rural property no. 5244 of Petra, CRU 07029000092788 (vol 4353, book 344, page 196), with cadastral reference 07041A007003120000IF, valued at 28,637.77 euros (not subject to VAT).

The total value of the properties is 636,821.46 euros. The request for transfer was made by the president of IBAVI (NIF Q5750001I) on June 28, 2026, and the Director General of the Treasury, Financial Policy and Heritage authorized the start of the proceedings on July 24, 2026, with a favorable report from the Financial and Heritage Instruments Service on July 30.

Conditions of the transfer

The agreement establishes a term of five years to execute the intended purpose. If, after this term, the assets are not allocated to the intended use or subsequently cease to be so, the transfer shall be considered revoked and the properties shall revert to the Autonomous Community, which shall be entitled to receive from the transferee, following a prior expert appraisal, the value of the damages and deteriorations experienced.

The transfer must be formalized in a public deed, registered in the corresponding Property Registry, and recorded in the general Inventory of assets and rights of the Autonomous Community. The agreement, which exhausts the administrative route, may be appealed for reconsideration before the Governing Council within one month or directly through contentious-administrative proceedings before the Superior Court of Justice of the Balearic Islands within two months. The agreement is signed by the secretary of the Governing Council, Antònia Maria Estarellas Torrens, and the president, Margarita Prohens Rigo.

Impact for citizens

The transfer will allow the IBAVI to have public land in the municipality of Petra to promote public protection housing in any of the modalities permitted by the regulations, a direct response to the need to expand the supply of affordable housing in the Balearic Islands. With this operation, the Government leverages public assets to allocate them to a social purpose, in a context of increasing pressure on access to housing.

Fuente: Official Gazette of the Balearic Islands, no. 115, September 15, 2026, Section III, p. 49895 (official reference: Agreement of the Governing Council no. 9187).