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

NEW THRESHOLDS TO ATTRACT PERMANENT RESIDENTS TOO HIGH

The Malta Developers Association notes that the new government conditions for permanent residents are considered by many developers as imposing financial thresholds that are too high. The MDA understands the genuine motivation behind government’s decision, even though some of its members may be adversely affected.

Contrary to popular perception, the financial thresholds and constraints in the new scheme do not apply to all foreigners who want to buy property in Malta but only to those who want to become permanent residents, a status that leads to heavy social burdens on the Maltese government. Foreigners buying property in Malta only need an AIP permit, which does not give the privileges of permanent residency.

Contrary to what has been capriciously claimed, the new parameters of the permanent residents scheme does not help to prop up property prices. Neither Government nor the MDA are in favour of property prices being artificially high, as had happened in the past, because this is economically unhealthy.

As a serious organisation, MDA is currently discussing with Government proposals for fiscal incentives indicated in the current economic situation, none of which involve amnesties or reducing taxes levied on developers’ profits.

Michael Falzon

President

Malta Developers Association

17 September, 2011

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