How has Ferratur Group evolved since its inception and what strategies have you employed to solidify your position in the housing sector while establishing a distinctive brand?

Our legacy spans over 130 years in the construction sector, particularly focusing on luxury housing. Core to Ferratur’s success are our unwavering commitment to quality and service. These principles have been pivotal as the demand for luxury homes surges, especially with tourists in Mallorca seeking higher quality services. This trend, once confined to specific areas, is now spreading across the island. We’re deeply involved in constructing such high-end homes in various regions. However, challenges arise due to the protection of old buildings in the historic town, which are vital heritage structures requiring the town hall’s safeguarding. Simultaneously, overseas investments are rejuvenating these historical but long-vacant buildings. People, particularly from Northern Europe, are drawn to Mallorca for its tranquility and well-being. Nevertheless, this higher purchasing power creates a disparity between the affluent foreign society and the local one.

How pivotal is site design in the success of the construction sector, and how does Ferratur manage its design team?

Construction methodologies have evolved significantly. In the historic town, the focus now is to harmonize new constructions with traditional architectural styles while integrating modern techniques. Sustainability is key, blending traditional Mallorcan designs with cutting-edge technology. Home automation is a growing trend, enabling remote control of lighting and heating. In other areas, our construction of family houses is driven by spectacular designs envisioned by international architects, often integrating avant-garde technologies. This necessitates a skilled technical team at Ferratur, prompting us to establish a dedicated technical support division. Our personnel undergo continuous training to stay updated with emerging construction technologies.

How is Ferratur addressing sustainability and the digital shift, and what long-term benefits will it yield in terms of investment and energy conservation?

While we’re builders and not architects, we actively contribute to projects by advocating for sustainability when we see an opportunity or lack thereof. Our future project involves constructing a self-sufficient house generating drinkable water and electricity through solar panels, and minimizing concrete use for improved efficiency. This venture has sparked substantial interest, serving as a pilot for a series of such homes. This necessitates extensive training for our team to manage this innovative project. Embracing such technology is becoming more common, however, the industry faces a labor shortage, particularly among young workers, calling for reinvention.

What message do you convey to foreign investors about Mallorca’s construction sector?

Mallorca stands as a safe and secure region for investment, both in terms of its streets and health. The island has effectively managed the COVID-19 situation. Investments on the island, when guided by local expertise, seldom falter. The demand for developments often surpasses completion, given the island’s allure, especially among European investors. The island’s accessibility, coupled with remote working capabilities and robust flight connections, fuels demand. It offers a secure investment ground due to limited supply and high demand.

Can we expect continued high returns on luxury properties, and what are your medium-term aspirations?

High-quality, unique locations command premium prices, attracting buyers willing to pay for exclusivity. Our recent project targeting German investors priced higher than neighboring properties, yet 75% has already been sold due to its amenities and distinctive approach. European investors seek higher profitability by investing more in upscale products, taking greater risks but reaping greater returns. However, it’s crucial for the local government to promote policies facilitating the construction of affordable housing for Mallorca and Ibiza’s citizens. The rising luxury segment needs to be balanced with affordable housing initiatives, requiring government support to prevent an imbalance leading to workforce issues, particularly in service sectors during the tourist season.