News

Hon. Silvio Parnis meets the MDA Council

Thursday, January 18th, 2018

As part of the current consultations regarding the Local Council and LESA Reform, a delegation of officials headed by Hon. Silvio Parnis met with the Malta Developers Association Council. Various matters concerning the construction industry were discussed.

 

MDA Football Team wins Dar tal-Providenza Tournament

Tuesday, January 2nd, 2018

The Malta Developers Association football team participated in the yearly football tournament between the constituted bodies in aid of Dar tal-Providenza. We won the tournament for the third consecutive year, thus ending the year with another success !

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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