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MDA condemns brutal murder of Daphne Caruana Galizia

Monday, October 16th, 2017

The Malta Developers Association condemns without any reservations the hideous murder of blogger Daphne Caruana Galizia.

MDA steadfastly believes that Malta is a democratic and civil country where freedom of expression is paramount and disagreements are part of normal life.

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KPMG study up for discussion

Friday, October 13th, 2017

The Malta Developers Association (MDA) has noted that the KPMG construction industry and property market study, launched during a press conference at Castille on 3 October 2017, has been attracting interest from multiple entities, public and private, wishing to learn more about this very important sector.

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older news

MDA-commissioned study by KPMG shows construction is 15% of economy

The KPMG study on the construction industry and the property market in Malta, commissioned by the Malta Developers Association, issued today, shows that this sector represents 15% of the nation’s gross valued added, accounting for a total output of €2.55 billion.

In terms of employment, the sector contributes to the creation of 37,275 jobs or over 21% of the total gainfully occupied in Malta and Gozo (all figures related to 2015).

Speaking at a press conference held at the Auberge de Castille, MDA President Sandro Chetcuti said that there were two principal reasons why the MDA has for years been wanting to conduct such a study:

MDA president Sandro Chetchuti presenting a copy of the study to Prime Minister Joseph Muscat. (Photo: James Bianchi/MediaToday)

MDA president Sandro Chetchuti presenting a copy of the study to Prime Minister Joseph Muscat. (Photo: James Bianchi/MediaToday)

MDA_KPMG study

“While as entrepreneurs we have foresight and go by our gut feeling, which is an innate gift, an art, we wanted this scientific study to back up our arguments in order to collaborate with those who are not similarly endowed.

“Secondly, we cannot afford to get carried away by our enthusiasm and we want to foster a climate where the property industry continues to flourish.”

The KPMG study also shows that vacant properties should not be considered as part of the supply of housing stock. While 42% are classified as ‘seasonal or secondary use’, the remaining 58% are ‘completely vacant’. Most properties in the first category are in a good state of repair, while 31% of ‘completely vacant’ properties are also in a good state of repair (data from 2011 Census).

The study found no econometric indicators of an existing property bubble, looks into housing affordability and gives an insight into the economic and social dimensions of the property market. It also considers some new emerging challenges and proposes that MDA should engage with Government and other stakeholders to address these challenges proactively

3 October 2017

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