News

PropertyMalta Foundation holds national conference

Sunday, December 3rd, 2017

Malta Developers Association (MDA) President Sandro Chetcuti, in his capacity as Chairman of the PropertyMalta Foundation, appealed to those attended the National Conference – Analysis of the Property and Construction Industry, last Thursday to come forward with ideas on how to improve the Malta property product.

“We can learn by combining our knowhow and work more professionally,” he said. Apart from taking part in its first international property fair in Cannes, France, last month, the PropertyMalta Foundation intends to launch an on-line campaign to reach different audiences. Read more »

National Conference : Analysis of the Property & Construction Industry

Tuesday, November 14th, 2017

National Conference : Analysis of the Property & Construction Industry

Thursday 30th November 2017
Grand Hotel Excelsior, Valletta
Registration at 8.15am.
Lunch will be served at the end of the conference at 12.30pm.

The recent KPMG Property & Construction Industry Study commissioned by the Malta Developers Association will be published and discussed during the conference. A copy of the document will be given to all participants.

Hon. Ian Borg, Hon. Chris Agius and Hon. Edward Scicluna will also be addressing the conference.

Conference fee : Eur70
(includes coffee breaks & lunch)
FREE OF CHARGE FOR MDA MEMBERS

The conference will be addressed in Maltese.

 

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older news

MDA submissions on strategic objectives of development plan

The Malta Developers’ Association (MDA) has made submissions to the Malta Environment and Planning Authority (Mepa) as part of the public consultation exercise following its publication of a draft document setting out the strategic objectives of the Strategic Plan for Environment and Development (SPED).

The submissions reflect the discussions carried out on the issue in the MDA council as well as in the BICC, the Building Industry Consultative Council.

Basically, the strategic objectives set out in the draft document should not be unduly controversial, the MDA said. However, it said in its submissions, the timeframe for the finalisation of SPED is too short and such an important document merits more discussion between all interested parties. The time allotted for the second stage – the drafting and the eventual finalisation of SPED – is certainly too short.

The MDA said the launching of SPED before the publication of the results of the census just carried out by the NSO is contra-indicated. One cannot define proper objectives as the draft document sets out to do without first scrutinising the current situation. The examination of the current situation is therefore flawed as it is not based on hard facts, as these hard facts are not yet in hand.

The issue of vacant properties is one of the more serious issues as far as the current situation is concerned. The document refers to a “guess estimate” of the number of vacant properties in Malta and Gozo. The census results on this figure (which is not yet known) needs to be followed up by a study in which a scientific sample of the vacant properties listed in the census are investigated so that one can arrive at a breakdown of the number of vacant properties, distributed according to the various reasons why the properties are vacant. The actual property situation and the demand and supply equation need to be researched scientifically before one can set out serious planning objectives in this area. Anything else is just guesswork: One can only keep guessing at what the strategic objectives regarding development of housing units should be.

The MDA said Mepa has failed to solve the problems resulting from the published, approved Local Plans and keeps refusing permits for proposed development that is within the parameters of the approved Local Plans. Attempting to solve this problem after SPED is approved will lead to a prolonged period of instability in the property market as we are in a position where one cannot be certain that a development according to Local Plan parameters will be approved. This means that the value of property within Local Plan areas is uncertain. Hurrying up SPED to solve this problem will lead to more mistakes and the Local Plans issues should be tackled as a priority.

Indicating particular policies at this stage – such as has been done in the case of semi-basements and penthouses – is a mistake as it gives the impression that they are the most important polices to be revised.

Changing existing policies in a way that decreases the development potential of sites when compared with the present situation is a very delicate issue as it could negatively impact on the assets of the private property owner, more so when the property in question would have been bought at a price that reflects the development potential at the time of the purchase. Apart from the inherent injustice in such moves, this also continues to contribute to an exacerbation of the uncertainty in the property market, with negative economic consequences.

The draft SPED objectives fail to highlight the problem of Gozo’s shrinking economy and effective resident population. There is no mention of a possible permanent link between the islands, even though the same Cabinet which approved the document approved the use of EU funding for studies about such a link. The document ignores the possibility of this link materialising during the period when SPED will be in force.

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