Introduction
Hulhumalé Development Corporation - HDC for short - was a government owned corporation that previously undertook solely the development and management of the Hulhumalé. In 2009, the name of the corporation was changed to Housing Development Corporation, and mandated to undertake government housing projects not only in Hulhumalé but elsewhere in the Maldives as well. Its mission now is to relieve the urban congestion in the Maldives by providing housing in a socially responsible and commercially viable manner.
While the HDC now has the vision of providing quality housing to the whole of the Maldives, its main focus currently lies in developing Hulhumalé into a unique island city in the North Malé Atoll, while creating opportunities for better homes, health, employment and education services in the Maldives.
HDC – the largest real estate development company in the Maldives – occupies three roles in the development of Hulhumalé.
Firstly, it acts as a master developer, delivering the vision, inspiration and imagination of the project in a manner that is feasible and commercially viable.
Secondly, HDC is a builder, investing in the infrastructure necessary for quality living and business prosperity. These include the development of roads, landscaping, and ensuring that basic utilities as well as other essential services are available for investors and residents.
Lastly, HDC acts as regulator, overseeing detailed planning, architectural guidelines and building regulations.
The HDC deals with the lease and sale of land as well as developed property on Hulhumalé. The company focuses on three broad areas of real estate development: residential, commercial, and industrial.