Parliamentary Secretary for Planning and Simplification of Administrative Processes Dr Michael Falzon emphasised the importance of quality developments and urged developers to work with the administration on many initiatives that are planned, including land reclamation.
Dr Falzon was addressing members of the Malta Developers Association during a well-attended event held yesterday at Villa Rosa, St Julian’s. Since he had worked at the bank for 35 years, Dr Falzon said he knew many of the main developers personally, most of whom were present in the hall, and he recognised the progress the Maltese economy has made thanks to development.
“Construction is one of the pillars of the economy, along with tourism and financial services. We are constantly doing a balancing act and our position is not always easy,” he added. Among the initiatives he mentioned that have been introduced is those in favour of first time buyers and the new Floor Area Ration regulations that should give new scope for development in the country.
MDA President Sandro Chetcuti said that the Association wants to be in the forefront working with the authorities to pave the way for developers so that what is normally achieved in a week can be obtained within a day. He quoted the Association of European Union Developers (UEPC) that found through research that Malta was among the few European countries to have emerged from the crisis in the property market.
“Between 2012 and 2013 there was a correction and, if were work sensibly, we can create wealth in the country,” Mr Chetcuti said. He mentioned that after the annual general meeting of the UEPC, held last week in Madrid, it was decided that next year’s meeting will be held in Malta. Following a meeting between the MDA Council and the President of Malta Marie Louise Coleiro Preca, he announced that an event will soon be held to raise funds for the Community Chest Fund.