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

MDA insists that a holistic plan is needed

The Malta Developers Association (MDA) refers to the news that Government has announced a scheme to exempt the payment of stamp duty on the transfer of shares between those who inherit property in Urban Conservation Areas – UCAs or Grade 1 and 2 buildings. It was also announced the Government intends to introduce more fiscal incentives on the rental and sale of these properties.

The MDA has long been insisting that the problem of abandoned properties in UCAs should lead to a holistic plan that includes fiscal incentives for all those who rehabilitate abandoned and run down properties in these zones – even when the work done is an investment – as well as a change in MEPA’s attitudes and policies so that this work can be carried out.
Unfortunately, Government is acting piecemeal in this regard: instead of attacking the problem aggressively as it deserves, it is announcing fiscal incentives in small and limited dozes which, when one considers the size of the problem, will have a negligible and fictitious result, and is not going to leave any positive, tangible effect.
The MDA once again urges Government to ensure that developers, who are prepared to invest their money and have the means to rehabilitate these buildings in UCAs, can benefit from these incentives.
The MDA is always ready to discuss with the authorities how the problem of vacant properties in UCAs should be tackled in a way that will truly lead to a live environment in the cores of our towns and villages, which are practically abandoned.
On MEPA’s policies for development in UCAs, these should be aimed at the preservation of what is really worth keeping with guidelines on the existing characteristics in streets or in the zones that should be respected. As a general rule, buildings without a damp-proof course and with layouts that cannot be adapted to contemporary needs should be altered and there should not be restrictions on the opening of garages in streets wider than 7.50 metres. At the same time, semi-basements should not be allowed and the building height should remain in line with the present predominant heights while normally building rehabilitation should not lead to an increase in the actual number of residents.
On the lowering of income tax on rents of places in these localities, the MDA has always maintained that, for a healthy rental market to be encouraged, a withholding tax system should be implemented on the income from rents of all property in Malta and Gozo and not as a specific incentive for buildings in UCAs. Even in this matter, the rental scheme announced is only a small doze with a negligible, fictitious effect.

22 May, 2012

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