The citizenship programme was boosting the building industry with a good number of foreigners wanting to buy property in Malta, Malta Developers Association (MDA) president Sandro Chetcuti said tonight.

Speaking at the MDA annual general meeting in the presence of Prime Minister Joseph Muscat and Opposition leader Simon Busuttil, Mr Chetcuti described the programme as a "wonderful opportunity" for developers.

“This is very positive. Good times are ahead for us," he said.

Mr Chetcuti said the government had managed to restart the property market by accepting to implement many of the developers’ suggestions.

He mentioned as examples lower planning tariffs, the introduction of new schemes for first time buyers and a reform in how government architects evaluated property taxes.

The meeting was also addressed by the prime minister and the leader of the opposition.

Dr Muscat said his government had managed to restart the property market.

"I think the market is responding well to the initiatives we are taking together with the developers," he said.

He promised to continue to listen to developers and to introduce more incentives to keep the industry alive and kicking.

Dr Busuttil admitted that in the last Nationalist legislature the government had been very inflexible and did not listen enough to the industry.

He said it was important that a balance was struck between the use of land and the environment.

"My message to you is very clear. We want consultation, flexibility and balance," Dr Busuttil said.

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