Housing Development Corporation (HDC) announced the official reversion of its name from Urbanco, in a formal ceremony held this morning.
The decision to return to the original name came after the company’s rebranding as Urbanco on April 1, 2023.
During the initial rebranding, HDC expressed the intention to position Urbanco as a partner dedicated to realizing the aspirations of the community. Managing Director Ibrahim Fazul Rasheed, speaking at the ceremony, reiterated the commitment to expanding and strengthening HDC’s services, ensuring increased accessibility for the public.
Addressing the challenges associated with the renaming process, Fazul acknowledged the complexities arising in interactions with foreigners due to confusion surrounding the company’s name. Changing a company’s name, he noted, has historically presented challenges in dealings with both investors and citizens.
Following the reversion to HDC, Fazul clarified that the name ‘Urbanco’ will continue to be utilized as a ‘Sub-Brand’ owned by the company. Explaining the future use of the term, he stated, “After re-branding, we will use it as a sub-branding for urban designing. Whether it’s Urbanco or Kudagiri or Smart City or My Hulhumale’, we have decided to make each of them sub-brands of HDC.”
The move is seen as an effort to streamline communication and avoid potential misunderstandings in dealings with stakeholders. The decision to retain ‘Urbanco’ as a sub-brand underscores HDC’s strategic approach to diversified services under a unified corporate identity.