ETERRA has secured a firm position on an ideal 3-hectare plot in Pòrtol, Marratxí — 15 minutes northeast of Palma de Mallorca. The site will be developed as a fully branded medical spa and wellness clinic, operated under a long-term management contract by a globally recognised brand in the longevity and medical wellness sector.
The project will comprise 80–90 luxury apartments alongside comprehensive medical facilities, a spa circuit, pool, and curated wellness amenities. ETERRA has been developing the site since June 2023 — rezoning, urbanisation (95% complete), and municipal alignment are largely done.
Three operator proposals are on the table with stabilised NOIs of €10–16M per year. The municipality has confirmed an accelerated building permit process of approximately 8–9 months post-submission.
| Plot reference | Properties No. 33262 & 12211 |
| Total plot area | 33,645 m² |
| GFA above ground | 12,602 m² |
| Zoning | EQ1 — Wellness & Social Use |
| Apartments / keys | 80–90 luxury units |
| Urbanisation status | 95% complete |
| Option agreement signed | August 2023 |
| Land purchase (planned) | Q2 2026 |
| Building permit (expected) | Late 2026 / Q1 2027 |
| Construction start | Q1 2027 |
| Completion / opening | Q4 2029 / Early 2030 |
| BNP Paribas valuation (current) | €12.01M |
| BNP Paribas valuation (with permit) | €25.07M |
| Developer | ETERRA AG (Sven Bading) |
Pòrtol is a picturesque district of Marratxí — one of Mallorca's larger municipalities — known for its rich history, traditional architecture, and panoramic views. It offers tranquillity and exclusivity while remaining fully connected to Palma's world-class infrastructure.
The site is positioned away from mass tourism yet within easy reach of the airport, a heliport for VIP arrivals, and Palma's cultural and commercial amenities. Germany and the UK — two of the five largest global wellness economies — account for 70% of Mallorca's visitors and 74% of luxury property buyers, creating a deep, proven addressable market.
| Palma International Airport | 15 km |
| City of Palma | 15 km |
| Son Bonet Heliport | 7 km |
| Golf Puntiro | 5 km |
| Fashion Outlet & Mall | 5 km |
| Closest beach | 13 km |
| Annual sunshine days | 300+ |
| Mallorca annual visitors | 12M+ |
The development will be operated under a long-term management contract by a globally recognised brand in medical wellness and longevity. Each brand under negotiation combines advanced medical treatments with personalised holistic therapies, blending Eastern and Western medicine to promote long-term health and vitality.
The 80–90 luxury apartments alongside the clinic provide a unique opportunity for permanent or seasonal residence — enhancing appeal for international investors and long-stay wellness clients.
Design integrates local Mallorcan architectural characteristics: multiple smaller building units, natural materials, local ceramics, and green roofs — fully aligned with Marratxí's urban planning requirements.
ETERRA began developing the property in June 2023 — ahead of the option agreement signed in August 2023. Since then, rezoning, urbanisation, and municipal coordination have been largely completed.
On 29 April 2025, a final coordination meeting with the municipality of Marratxí — attended by the mayor, city council representatives, and the city architect — confirmed the project is fully supported and the current design complies with all spatial and massing requirements.
The processing time from submission of final operator-aligned plans to building permit issuance is estimated at 8–9 months. The only outstanding item is integration of operator-specific requirements into the final submission plans.
| Land & Acquisition (KG 100) | €7,586,354 11.5% |
| Plot acquisition (net) | €4,130,000 |
| Transfer tax (ITP 10.9%), fees, legal | €489,407 |
| Compensation / pre-dev costs | €2,966,947 |
| Pre-Development (KG 200) | €1,892,850 2.9% |
| Construction — Buildings (KG 300–400) | €27,687,595 42.1% |
| Rooms & Suites (5,844 m²) | €7,422,863 |
| Front of House / F&B (3,689 m²) | €2,277,000 |
| Clinic & Wellness (5,319 m²) | €8,973,450 |
| Pool area, Back of House, Parking | €6,354,597 |
| Construction reserve (8%) | €2,509,685 |
| Outdoor Areas (KG 500) | €1,882,299 2.9% |
| FF&E — Furnishings (KG 600) | €11,800,000 17.9% |
| Rooms (€50k/unit × 60) | €3,000,000 |
| Public Areas, F&B, Wellness | €3,500,000 |
| Medical facilities | €4,500,000 |
| Technical equipment & cleaning | €800,000 |
| Ancillary Building Costs (KG 700) | €8,218,670 12.5% |
| Financing (KG 800) | €3,750,898 5.7% |
| Marketing & Sales (KG 900) | €2,930,180 4.5% |
Three operator proposals have been received from globally recognised brands in precision medicine, longevity, and integrative health. Each offers stabilised NOIs between €10 and €16 million per year by year three. Negotiations are active with the two strongest candidates.
The operator will be selected on brand strength, medical credentials, operator terms, and alignment with the platform's longevity vision. Operator signing is expected by early summer 2026.
| Operator offers received | 3 formal proposals + 1 LOI |
| NOI range (stab. year 3) | €10M – €16M / year |
| Contract type | Long-term management contract |
| Target signing | Q2 2026 (early summer) |
| Contract structure | Base fee + revenue participation |
| Consultancy | Michaeler & Partner (Vienna) |
The Pòrtol Medical Spa & Wellness Clinic is one of Europe's most compelling entries into the longevity real estate sector — backed by three years of preparation, independent valuations, and active operator negotiations. First-tranche investment decisions are time-sensitive given the Q2 2026 acquisition timeline.