INTERVIEW WITH MICHAEL STIVALA, PRESIDENT OF MDA
Fostering a cooperative environment among all sectors within the property industry, and advocating for mutually beneficial policies, Malta Development Association has been instrumental in driving the sector’s success.
«From the early stages, our aim has always been to present a collective voice rather than individual interests,» explains Michael Stivala, CEO of the MDA, outlining the fact that the Association was originally established to unify developers and landowners, facilitating a collective approach to lobbying the government for policy changes.
Moving forward, the Association’s effort have gone the extra mile with the creation of the National Building Council, this time in collaboration with the Chamber of Architects, in order further enhance dialogue within the sector at all levels. “The council unites all industry professionals and developers, ensuring cohesive, well-rounded policy discussions with the government», Stivala highlights.
This cooperative approach, securing the interests of all professionals in the sector, has contributed to the success of the MDA, which now has over 1,000 members.
MDA has championed several initiatives, including the first-time buyer scheme, contributing to Malta’s impressive 82% homeownership rate. «Homeownership provides financial stability, especially for young people», Stivala notes. The association’s efforts have also led to the implementation of policies that promote sustainable development and modern construction standards.
Addressing the rise in property prices, Stivala attributes it to Malta’s consistent economic growth and increased demand for high-quality construction. «The influx of foreign workers and changes in family dynamics have significantly impacted property demand» he says. The MDA’s influence has been crucial in adapting to these changes and ensuring that the property sector remains robust and attractive to investors.
Economic forecasts predict continued growth for Malta, with a shift towards a quality-based economy to sustain development while enhancing quality of life.
«Malta’s safety, friendly community, and favorable climate make it an attractive destination for investors,» Stivala adds.