The lack of a holistic government plan for major development projects involving sale of public land risked creating instability in the sector, Malta Developers Association president Sandro Chetcuti warned. He said the government should avoid selling several sites to be developed for real estate purposes at the same time because it could have a negative effect on the property market to the detriment of private property owners and prospective buyers. In such a situation, it would be the government that would be creating an artificial bubble in the property market, which should be avoided at all costs. Mr Chetcuti stressed the need for a holistic plan when selling public land for real estate planning. "If there are too many of these projects going on at the same time the market will be flooded. This will affect our competitiveness and instability will be created again. There is a limit to the demand this country can take," he told the Times of Malta. In a statement, the MDA referred to negotiations the government was having on the transfer of public land to the private sector with regard to real estate development, among them the former White Rocks Holiday Complex site and other...
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