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.

 

invite_MDA

older news

Public property being undervalued

Discrimination against Maltese
and Gozitan developers

In its last meeting the Council of the Malta Developers Association (MDA) discussed recent reports in the press saying that parcels of land within the Smart City site are being offered for sale to individual developers.
MDA has received a large number of complaints from its members, who insisted that this news goes to show that, despite foreign investors being given very advantageous conditions to the detriment of Maltese developers, the realisation of projects, originally intended to be financed totally with foreign money, ends up depending on the input of the local investor. This can only be considered as undervaluing of public property with no justified and proportional input benefiting the country. This had already happened in other cases, such as the Chambray project.
MDA realises that a project like that of Smart City needed a prestigious international developer to succeed and appreciates the positive spirit in which the project was launched in Malta. The prevalent negative international economic situation, however, does not impinge only on projects originally destined to provide foreign investment and users of developments, but also on the efforts of the small Maltese developer.
Once again, MDA insists that it cannot but express its serious disagreement with a system whereby Government gives advantageous conditions to foreigners to develop public land while individual developers of private land are hassled by the Malta Environment and Planning Authority (MEPA), and by excessive bureaucracy from practically all government departments and entities, besides the prevalent system of taxation on sale of property and the way it is applied.
Moreover, this contrasts with current Government policy that is intended to eke out the maximum possible income from its property, raising rents and ground rents to exorbitant levels. This has been happening in the case of renewal of all leases or ground rents. Meanwhile the property market remains depressed.
Only two weeks ago, an MDA delegation had the opportunity to discuss these problems in the property market with the Minister of Finance, Tonio Fenech, presenting him with a number of proposals intended to help the country overcome these difficulties without any substantial loss in Government revenue and without encouraging new development on virgin land.
In these circumstances, MDA appeals to Government to accept and adopt its requests and recommendations without any further delay.

30 July, 2012

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