Ibavi will build a development of eight two- and three-bedroom public rental apartments for residents of Ibiza. It will be located on the site of the former Mercat Pagès, at 18 Vicent Serra i Orvay Street. The plot has an area of 245 square metres and a maximum buildable area of 904.87 square metres, distributed across five floors plus an attic. The initial plan was to build ten homes, but in the end there will be eight, as the first floor will include two commercial premises that will be ceded to the City Council, at the request of the Consistory, according to the Balearic Government’s website.
As for the characteristics of the development, it will include six two-bedroom homes, one of them adapted for people with disabilities. The other two units will be three-bedroom duplexes occupying the fourth floor and the attic. The estimated budget for the project is 1.8 million euros and construction is expected to begin in 2026.
The Mercat Pagès development has benefited from the new fast-track procedure introduced by the Government to speed up the processing of public housing projects, through Law 4/2025 of 18 July, on urgent measures to secure land through strategic residential projects in the Balearic Islands.
This law also allows public housing developments to be declared of autonomous interest and to undergo an abbreviated procedure, similar to that of other infrastructures such as educational and healthcare centres. This mechanism shortens processing times —a reduction of one or two years in most cases, and even up to three in some— and is intended to reinforce the Government’s shock plan this term to increase the supply of affordable housing for island residents.