HOUSING DEVELOPMENT CORPORATION Investors Presentation
1 HDC is wholly owned by the Ministry of Finance,
which provides it with strong financial support
Corporate and shareholder structure
Key regulators
President Office of the
Maldives
Ministry of National
Planning, Housing and
Infrastructure
Ministry of Economic
Development
In-house
development team
HDC
Government of
Maldives
(GoM)
Ministry of Finance
(Shareholder)
100% ownership
3rd party contractors/
consultants
HOUSING
DEVELOPMENT
CORPORATION
As a SOE, HDC performs its duties in conjunction
with the support received from the Ministry of
Finance (Maldives) ("MoF")
MoF provides assistance to HDC in multiple areas,
including financial and technical expertise as well as
consultancy
■MoF has provided sovereign guarantees for a significant
portion of HDC's debt and also provides refinancing facilities
to HDC to help service its existing debts
■ HDC works closely with key regulators such as the President
Office of the Maldives, Ministry of Housing and Urban
development, Ministry of Economic Development as well as
Ministry of National Planning and Infrastructure, to
implement the various development projects across
Hulhumalé
■There exists a high likelihood of extraordinary support from
the Government of Maldives through MoF, as well as very
high default dependence between the two entities
HDC has full land planning and real estate
development capabilities, where it maintains and
develops the master land use plan for Hulhumalé
HDC also manages and implements its own projects
in Hulhumalé
For large projects, HDC will engage 3rd party
contractors/developers as well as consultants to assist
with construction and development of buildings given the
additional level of expertise required
Source: Company information.
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