Construction sector lobby boasts of unprecedented €100 million surge in revenue for January

Malta Development Association says promises of sales are up by 7%, reports 30% revenue growth, while calling for more govenment investment in sustainable development and infrastructure

MDA President Michael Stivala (file photo)
MDA President Michael Stivala (file photo)

Malta Development Association President, Michael Stivala, has called for more government incentives in sustainable development and national infrastructure, in a statement reporting a 7% growth in promises of sale -pre-sale contracts known as konvenji in Maltese - for the month of January.

The figures are based on data that the MDA says it had collected from “various sources and includes both residential and commercial property.”

“This uptick not only signifies a heightened level of market confidence but also underscores the effectiveness of the country's strategies,” the association said in the statement it issued today, reporting a 30% growth in revenue for the period. “The correlation between the surge in promise of sales and the exponential revenue growth is a testament to the robustness of our industry and the continuous confidence of the Maltese and Gozitans in the property industry,” the MDA said.

Congratulating itself on what it described as “this exceptional performance,” the lobby said its “keen understanding of market trends and the implementation of effective strategies” were contributing factors.  

“Looking ahead, the focus must remain on sustaining and building upon this success. We are confident that our industry's future strategies and goals will pave the way for continued growth and solidify our industry as the leading industry in the Maltese economy.” 

Stivala urged the government to increase investments in sustainable development and infrastructure, “aimed at fostering environmental resilience, economic growth, and improved quality of life for citizens.”