The Malta Developers Association has welcomed the government’s decision to launch the Residence and Visa Programme for Malta which grants resident permits to third party nationals in return for investment in government bonds and property.

The MDA stressed the need for a serious due diligence process for the programme in order to make it truly successful.

It said that as a result of this scheme owners of vacant properties would be encouraged to refurbish them.

This programme would lead to a further strengthening of the property market and, as a result, to economic growth.