HOUSING DEVELOPMENT CORPORATION Investors Presentation
Key development and milestones
1
■Phase I
reclamation of
Hulhumalé
began in the
Hulhulé-
Farukolhufushi
Lagoon (HFL)
HOUSING
DEVELOPMENT
CORPORATION
3
■Completed Phase I
reclamation and
coastal structure
development
5
■Completed 1,000
social housing unit
development
project
7
■Initiated the landmark 7,000 social
housing unit development project
■ Obtained financing from international
banks backed by sovereign guarantee
of Maldives
■US$34m loan from Export Import Bank
of India for infrastructure development
9
■■Sinamalé Bridge was
opened, connecting the road
network of Hulhumalé to
Malé
Awarded the "Master Plan
Project Award" at the
Cityscape Emerging Markets
Awards and the "Calix
Innovation Award" at the
Innovation in Next
Generation Networks
11
■Mandate
expanded to
include the
development of
Greater Malé'
Region following
the merger with
GMIZL
1997 2001 2002
2005
2012
2015
2016
2017
2018
2019
2020
2
■Hulhumalé
Development
Unit (HDU) was
established with
the mandate of
developing
Hulhumalé
Ownership of HFL was
transferred to HDU which
was incorporated as
Hulhumalé Development
Corporation Limited
HDC was awarded the
mandate to undertake
housing development
projects in Hulhumalé
Additional 240
hectares in
Hulhumalé
Phase II was
reclaimed by the
Company
8
Started Hulhulé-Hulhumalé Link road project
US$80m loan from Ministry of Finance and
Treasury for infrastructure development
US$369m loan from Industrial and Commercial
Bank of China for 7,000 housing units project
US$159m loan from China Development Bank
for 1,530 housing units project
■US$31m loan from Industrial and Commercial
Bank of China for Hulhulé - Hulhumalé -
Airport Link road project and US$65m loan
from Credit Suisse AG for 7,000 housing units
project
10
Fahi Dhiriulhun Corporation Ltd
took over HDC's social housing role
in Hulhumalé (1) pivoting HDC's
focus towards developing
infrastructure / commercial projects
in Hulhumalé
Ministry of National Planning and
Infrastructure committed to develop
and transfer 6 government offices
to Hulhumalé
Source: Company information.
(1)
HDC will continue with and own its existing social housing projects; FDC will only takeover upcoming social housing projects.
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