Housing Development Corporation Ltd. (HDC) is a 100% state owned enterprise formed by a presidential decree, initially established in 2001.
HDC undertakes and manages the overall planning and building of the reclaimed city of Hulhumalé – the Maldives’ biggest and most ambitious urban development project. Currently working towards creating Hulhumalé to become the nation’s first sustainable city, the corporation undertakes projects of hospitality, industrial, recreational, commercial and residential in nature, while introducing new opportunities on a scale previously never seen before in the country.
Hulhumalé aspires fostering creative entrepreneurship among the youth, stimulating economic solutions and tackling the social challenges faced by the nation. In essence, HDC presents a variety of its own products including community based developments; Central Park, Fehires Park, Indoor Sports Complex & Outdoor Sports Arena, Fahiveni Community Center, Fisheries Harbour, Local Market as well as commercial and industrial developments such as Green Office Building and Warehouse Shell. Curving a welcoming path for investment, Hulhumalé Phase II, the newly reclaimed addition to the existing conurbation promises diverse development opportunities.