The regional government and the Bit Foundation will build 120 temporary rental housing units for researchers at ParcBit on three plots of land provided for this purpose, a 20-million-euro project through which the regional government aims to strengthen its ability to attract and retain talent in the fields of innovation and research.
As Antoni Costa, the regional minister of Economy, Finance, and Innovation, explained on Thursday, the homes will be built in a coliving format, with one- and two-bedroom units equipped with a bathroom and living room. The complex will also feature common areas designed to foster social interaction and collaboration among residents.
Construction will begin during the first quarter of 2027, will take 18 months to complete, and is part of the regional government’s strategy to establish ParcBit as a hub for innovation and knowledge.
The project will be carried out thanks to an agreement between the Bit Foundation and the Balearic Housing Institute (Ibavi), under which the surface rights to three plots in ParcBit—where the project will be developed—will be transferred.
Thus, one of the lots will be used for the construction of housing, while the other two will house complementary services and facilities for residents and users of the technology park.
The residential complex will consist of six two-story buildings and will provide temporary housing for employees of companies based at ParcBit, as well as for researchers and faculty affiliated with the University of the Balearic Islands (UIB).
Costa noted that the initiative was made possible by the approval, last April, of the amendment to the ParcBit Special Development Plan, a project included in the Plan to Attract and Retain Businesses and Talent, which has a budget of 68 million euros.
The vice president argued that the project will “facilitate the arrival and retention of qualified professionals” and will help “establish ParcBit as a leading hub for innovation and research in the Mediterranean.”
He also stated that this initiative is part of the regional government’s plan to transform the technology park, which includes measures such as moving forward with the Balearic Islands Research Complex, reclaiming land for new businesses and offices, extending the metro, the future construction of a UIB campus, and the improvement of various facilities and infrastructure.
Costa also announced the future construction of an engineering school at the University of the Balearic Islands (UIB) in ParcBit. As he explained, the regional government is working to finalize the project before the end of the legislative term, although he admitted that he considers it unlikely that construction will begin during the current term.
For his part, José Luis Mateo, the regional minister of Housing, Land Use, and Mobility, emphasized that the housing development is part of the public housing plan promoted by the regional government and noted that there are currently more than 1,200 Ibavi public housing units in various stages of processing in the Balearic Islands.
Mateo also pointed out that ParcBit “had potential that had not yet been realized” and argued that the new development will help meet the temporary housing needs of researchers and professionals associated with the technology park.
