Page 8 - Malta Developers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The eurozone’s economy grew at a rapid rate since 2013 and this contributed to the unprecedented boom in Malta’s already flourishing property market. This upswing boded especially well for the lucrative local rentals market. The entire property industry, a very important component of the national economy, has always been one of the best places to invest in, the reason for this being that interest rates given by the banks have been at historic lows for some time. It, therefore, makes far more sense for those with extra savings to invest in the real estate market by means of buying addition...

According to a spokesperson for the environment ministry, the government “has no intention to relinquish this right”. This suggests the government will be responsible to ensure access to the bay is not blocked again and that the public can freely walk to the foreshore. Architect's report notes dangers Chetcuti has said he is willing to allow public access to the bay through his land and insisted through his lawyer that access was closed off because the area is not safe to walk through. If anyone were to get hurt while walking through his land, it will make him liable to damages, he has sa...

Abela said the reform will not weaken the industry but rather increases its sustainability. “We have to accept that we need to raise standards, and walk away from old practices,” he said. The Labour leader said that while developers must be understood and incentivised, government’s priority must be that of protecting the safety of people in their households.   Such a priority, he said is shown in the proposals being forwarded, such as the right to employ an architect if a development is being carried out on neighbouring plots. The expenses would be forked out by the developers themselv...

The number of building-related companies continues to increase with each passing year, although different sets of statistics paint divergent pictures of the size of the sector. Report: Julian Delia While National Statistics Office (NSO) figures indicate that there were 8,980 construction-related business units in 2019, data held by the Malta Business Registry lists 125 companies engaged in construction-related activities last year. Figures held by construction lobbyists, the Malta Developers’  Association (MDA), indicate just over 600 operators in the sector, who have become members, all ...

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