The Malta Developers Association has issued a press release declaring they are against the recently Government and Church issued affordable property scheme. The Malta Develoeprs Association are accusing the government of rewarding property developers at the expense of others by enabling them affordable properties on public land, effectively enabling them a safe and potentially higher margin of their investment.
The scheme incentives up to 260 residential properties which will be built on public land. The Malta Developers Association are demanding government aid in the form of “public-private” partnerships to sell properties under the market rate. This would involve a similar scheme by which the government would have to fund construction projects.
In reality the fundamental issue may seem to be related to the fact that certain developers seem to be preferred bidders for the scheme as reported by The Shift News. The MDA’s concerns according to their statement is clearly related to the fact that only a handful of developers will be benefitting from the scheme giving an unfair advantage against other developers.
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