News

MDA insists its Budget proposals as agreed before general election

Saturday, September 16th, 2017

The Malta Developers Association presented a substantial document with concrete proposals for Budget 2018, some of which can be implemented immediately.

MDA President Sandro Chetcuti, who headed a delegation of Council members, augured that the Prime Minister and his Government would continue to achieve further progress and success in its endeavours to take the country to the next level. He praised Government’s initiatives that have truly brought the best of times in terms of employment and a booming economy.

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Both PN leadership contenders request meeting with MDA

Sunday, September 10th, 2017

The two Nationalist Party leadership contenders, Dr Adrian Delia and Dr Chris Said, held separate meetings with the Malta Developers Association Council. The meetings, held at the request of the two candidates, turned out to be two long, fruitful discussions.

Both Dr Delia and Dr Said acknowledged the good work of the MDA and its highly valid contribution to the country.

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older news

Government urged to take up MDA suggestions

The Malta Developers Association refers to the reaction of the Finance Minister regarding the concern expressed by the European Commission on the increase in problematic property loans and their impact on the Maltese banking sector.
MDA has been warning about the deterioration in this sector ever since it was set up in September 2010. While the Minister is correct in saying that our banks have been much more prudent than banks in other EU states, MDA feels that this does not mean that the problems pointed out by the European Commission do not exist.
Recently published statistics in which prices of property are gauged from the asking prices in advertisements appearing in the press are misleading and, in fact, contradict the statistics showing that the number of units being sold has substantially decreased.
MDA believes that the Government should look more positively at its suggestions to take steps that would lead to a resurgence of activity in the property market so that pressure by and on banks could be eased.
These steps should include a revision on the way property sales are taxed so that at any time vendors could opt to pay tax on their actual profit as part of their normal income tax; as well as the removal of barriers being faced by foreigners who buy property in Malta, such as the ban on foreigners to lease their property as holiday premises – thus excluding the possibility of foreigners buying property in Malta as an investment.

2 June, 2012
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