Housing Development Corporation Ltd. (HDC) is a 100% state-owned enterprise formed by a presidential decree in 2009. Initially established as Hulhumalé Development Unit in 2001 with the mandate of undertaking the Hulhumalé development project, the organization has had a major role in fostering the development of Hulhumalé.
Hulhumalé is the Maldives’ largest and most ambitious urban development project, with HDC in charge of overall planning. The culmination of the island nation’s effort to reimagine its focus towards being resilient, economically and environmentally, Hulhumalé was the idea of providing the citizens with a different environment from the capital city Male’. HDC has managed to achieve the milestone of managing the overall planning and building of the reclaimed land of Hulhumalé and making it the biggest and most ambitious urban development project in the Maldives.
HDC is currently working towards completing the Hulhumalé project entirely by 2033 to become the nation’s first sustainable venture with projects of hospitality, industrial, recreational, commercial and residential undertaken. As a result of this endeavour, opportunities on a scale never seen before in the country have been generated. As the Maldives’ first Smart City, Hulhumalé will offer a FIBRE OPTIC GPON network to replace the traditional cables used for ICT services, resulting in an improved quality of life for residents and the investors, a brand-new attraction. Environmentally sound transportation systems, as well as the adoption of green architecture and the creation of green energy inside the city, are scheduled to go into operation.
With their experience in the field, HDC has initiated the “Go Beyond Hulhumalé” program, which aims to bring forward 23 years of experience in the planning and building of a smart and green city thereby contributing their knowledge across other regions of the Maldives. This initiative aims to support integrated planning efforts in urban development and other regions to help cities flourish sustainably. City councils, appropriate relevant authorities and HDC will collaborate to ensure a better life for the communities.
As the master developer for three pivotal islands of the Maldives: Hulhumalé, Thilafushi & Gulhifalhu, the corporation will be focusing more on Thilafushi and Gulhifalhu in the years ahead.
Thilafushi, the island’s potentiality, which was not identified until later, is now brimming with opportunities for Maldivian industrialists. While Thilafushi became an absolute solution due to the Male City’s high population density, resulting in overflowing garbage in the region, HDC is working towards making this island a complete solution for the need, and with HDC’s experience, they are formalizing a more systematic strategy for the island.
Gulhifalhu, the half-moon-shaped island, embodies the buoyant economy of Maldives. It is located halfway between Thilafushi and Villingili. With the possibility of residential units on the books, the island is expected to become a major hub for the Maldives’ economy soon. The island is ideal for industrial development because it is so close to the Maldives’ main port and international airport. The island promotes the separation of industrial and urban areas, allowing industrial uses to have a lower environmental and social impact. Gulhifalhu’s strategic location also provides a predominant space idyllic for localized environmental controls that are specific to the needs of an industrial area.
HDC is expanding beyond Hulhumalé to become the Maldives’ largest urban development corporation, and to do so, the corporation must move forward and seek opportunities throughout the country. HDC has already begun the initiative with Fuvamulah City and is in productive talks with them to assist with their expertise in the city’s development.
