Housing Development Corporation's asset
Housing Development Corporation


HDC is a 100% state owned enterprise formed by a presidential decree, initially established in 2001.


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Urbanco is a leading urban developer in the Maldives, offering a wide range of products and services to create opportunities for better homes, health, employment, and education. With a focus on intelligent, innovative, and sustainable development, Urbanco is dedicated to redefining quality living in the Maldives. Starting from humble beginnings as a small unit under the Ministry of National Planning, Housing, and Infrastructure, Urbanco has grown to become the go-to urban development partner for the government.

From developing housing projects, Urbanco has expanded its portfolio to include major regions like Hulhumalé, Gulhifalhu, Thilafushi, Kudagiri, Urban Isle, and the Greater Malé Region. Urbanco offers various products and services, including land sale, lease, development, and sale rights. They also engage in joint venture models, where both parties share the profit and risks.

The company specializes in developing residential properties, including social, mid-range, and luxury housing, using different business models like end-user financing, lease-to-own, and outright sales. Additionally, Urbanco offers commercial units for lease, using lease and minimum monthly guarantee models. Their objective is to fulfill the needs of residents and build a strong commercial lease clientele while enhancing the overall brand identity of Hulhumalé.

Furthermore, Urbanco is actively involved in property management, ensuring the smooth operation and maintenance of real estate properties. They also focus on developing smart city solutions, including a city-wide digital infrastructure and network infrastructure such as GPON networks, TV channels/multicast, and dedicated fiber links. They also provide duct leasing and tower projects to enhance mobile coverage within the city.

With a vision to be a leader in redefining quality living and a mission to establish higher standards of living through intelligent, innovative, and sustainable development, Urbanco is committed to creating a better future and a world of better tomorrows for generations to come in the Maldives


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Public Company

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