The Malta Developers Association refers to negotiations that the Government is currently conducting on the transfer of public land to the private sector that are intended for development, among them the former White Rocks Holiday Complex site and other prime sites, particularly where real estate development will be permitted and placed on the market in competition with other developments built on private land.

Once again, the MDA insists with the Government that the transfer of public land for private commercial development should be at the commercial going rate on the day and not at a lower rate. This price should take into consideration the building volume (density) that is to be allowed on particular sites to be transferred, as well as the nature of the development.
This is very important both so that the State will safeguard the common good, as well as to avoid unjust competition and speculation between developers who buy private land at commercial rates and others who buy public land at preferential rates. In this way, there will be a level playing field that is desirable because unjust discrimination will be avoided.
The Government should also seek to avoid selling several sites to be developed for real estate purposes at the same time. This could have a negative effect on the property market to the detriment of all those who own private property and prospective buyers. In such a situation, it will be the government that is creating an artificial bubble in the property market, which should be avoided at all costs.
In this regard, the MDA fully agrees with Finance Minister Prof. Edward Scicluna, who recently emphasised that no economic sector should be allowed to overheat and reach overcapacity.