Turkish chef and entrepreneur Nusret Gökçe, better known as Salt Bae, says construction of his luxury residential and restaurant project in Ibiza has around three months remaining.

Gökçe shared a new video on social media showing the progress of The N Residences, the large development being built beside Ibiza Gran Hotel, between Passeig Joan Carles I and Avenida Vuit d’Agost.

In the video, Gökçe dances alongside construction workers while Bad Bunny’s “NUEVAYoL” plays in the background, before showing aerial footage of the development.

The N Residences takes shape

The project, known as The N Residences, combines luxury homes with restaurants and other facilities.

Current project information from construction company Aluman describes an ongoing development of more than 12,000 square metres of built area, with 51 residences, four restaurants, underground parking, a swimming pool and landscaped communal areas.

The building was designed by Ibiza-based architecture studio Ribas & Ribas, while San José Constructora is the contractor.

51 luxury residences

The development will contain 51 homes, including six duplex penthouses, according to the project's published specifications.

The apartments are being marketed as luxury residences, with previous reports putting prices from around €1.5 million for some units, while other reporting has indicated prices reaching several million euros depending on the property.

The exact price of each residence varies according to its size and characteristics.

Four restaurants planned

The residential development will also include four restaurant spaces.

One of these will be operated by Salt Bae himself and is expected to become the first Nusr-Et restaurant in Spain.

That makes the Ibiza project different from Gökçe's existing restaurant locations, as it combines his restaurant brand with a substantial residential development.

Construction began in 2026

Although Gökçe announced the project publicly in 2023, the development has taken several years to progress from its initial plans to construction.

Construction activity was formally under way in 2026, with the first stone laid in March.

By September, the building had progressed substantially, with the external envelope and other construction work continuing.

Aluman currently lists the project as “ongoing” and confirms its involvement in the building's façade and external glazing systems.

Three months left, according to Salt Bae

Gökçe's latest video is the most recent indication of the expected construction timetable.

In the video shared on September 18, he says there are approximately three months left to complete the project.

That would point towards the end of December 2026 if the timetable is followed as stated.

However, the three-month figure is Gökçe's own current estimate and should not be treated as a guaranteed completion or opening date.

Earlier reports had placed completion between the end of 2026 and the beginning of 2027, while previous project information had referred specifically to January 2027.

The project has attracted attention in Ibiza

The development has become one of the more prominent new luxury residential projects on Ibiza's waterfront.

Its location is close to Ibiza Gran Hotel and the Marina Ibiza area, with views towards Dalt Vila.

The design features an undulating, curved form intended to reflect the movement of the sea, with terraces incorporated throughout the building.

A major investment

Noudiari reports that the project represents an investment of more than €100 million.

The development is being promoted as one of Gökçe's major business projects and represents an expansion of his activities beyond restaurants into luxury residential property.

The exact final cost of the development should not be confused with the value of the apartments being offered for sale.

Ibiza will get Salt Bae's first Spanish restaurant

One of the most notable elements for Ibiza's hospitality sector is the planned Nusr-Et restaurant.

Gökçe announced from the beginning that Ibiza would be home to his first restaurant in Spain.

The restaurant is expected to form part of the wider The N Residences development rather than operate as a separate standalone property.

What happens next

The latest construction video suggests that the project is entering its final phase, with Gökçe indicating that approximately three months remain.

If that estimate holds, the development could be completed towards the end of 2026.

For now, however, the safest description is that The N Residences remains under construction, with completion expected around the end of 2026 or early 2027.

The opening date for the residences and the Nusr-Et restaurant has not been independently confirmed as a fixed date.