The real estate sector describes Sareb's blocking of 50 plots of land in the Balearic Islands as a "scandal."

PalmThe Balearic National and International Real Estate Association (ABINI) described this Monday as a "scandal" and expressed its "deep concern and indignation" because the Management Company for Assets from Bank Restructuring, Sareb, is keeping 50 plots of land in the Balearic Islands blocked, with the capacity to build 583 homes.

The real estate association has accused Sareb of colluding with investment funds and asset management companies (services), instead of responding to the objective for which it was created in 2012: to clean up the accounts of financial institutions and reorganize the real estate market. ABINI recalled in a statement that in the Balearic Islands, where the shortage of building land has been denounced for more than a decade, it is "unacceptable" to keep these plots undeveloped. The association has pointed out that this paralysis worsens the residential crisis facing the islands and marginalizes local developers, historically linked to affordable housing.

Although, since 2022, Sareb is a public entity financed by taxes, according to ABINI, its management "continues to respond to speculative dynamics" that prevent residents from accessing decent housing. As an example, the association cited the case of Son Busquets, the former military barracks in Palma where the construction of 800 homes is planned, a project that has been stalled for decades. ABINI considered that this situation reflects "inefficiency and neglect" on the part of both the administrations and Sareb itself.

The real estate association has demanded the immediate processing and implementation of the 583 homes on Sareb land, as well as the 800 in Son Busquets, and has requested that these projects be exclusively for residents of the Balearic Islands.