The MDA is satisfied to see the extension of existing incentives pertaining to the property sector, particularly the schemes offered to first-time and second-time buyers. These incentives were proposed by our association, underscoring our commitment to facilitating accessible homeownership and housing affordability. Furthermore, the MDA is also pleased to note the announcement of the new Condominium Act is a testament which is the culmination of months of hard work by all those involved, particularly and most notably the Condominium Services Section within the MDA.
That being said, the MDA expresses disappointment over the absence of new incentives aimed at encouraging sustainable development, notably incentives related to green building. To really make progress towards a more eco-friendly approach, it’s crucial that we have incentives in play to inspire everyone involved to adopt construction practices that are kinder to the environment. The MDA also notes with concern the oversight in addressing bureaucratic inefficiencies that impede progress and fail to yield value. While the Finance Minister rightly identified unnecessary bureaucracy as an obstacle to our economy, the absence of concrete measures to rectify this issue is regrettable. The MDA notes the limited attention given to critical concerns such as traffic management and Malta’s infrastructure development. Clear strategies and initiatives are crucial to address these pressing challenges.
In conclusion, while the budget exhibits commendable aspects, the MDA urges further steps to bolster sustainable development, streamline bureaucracy, and address critical infrastructural issues for a more prosperous Malta