The Housing Development Corporation (HDC) has unveiled its ambitious “Transforming Tomorrow” initiative, under which it plans to roll out 15 major development projects in Hulhumalé. The launch event, held at Central Park in Hulhumalé, was attended by prominent officials, with the Minister of Economic Development and Trade, Mohamed Saeed, presiding over the ceremony.
The extensive range of projects reflects HDC’s commitment to enhancing infrastructure, housing, and recreational facilities in Hulhumalé. The key projects announced include:
- Rasmale Project
- Private Row Houses in Hulhumalé Phase 2
- Social Housing Projects
- Modern Prefab Homes for Binveriya scheme recipients
- Farukolhufushi Gated Community – a luxurious private living space
- SOE Office Building and SME Building
- HDC Headquarters
- Elderly Care Facility
- Parking Facilities
- Isle Adventure Park
- History Center
- Knowledge Park
- Nuveli – Island Retreat
- Kinaria – Destination Island
- Smart Warehouse Complex
- Scenic City Tree Planting Project
These projects align with President Dr. Mohamed Muizzu’s vision, as outlined in his manifesto, to develop Hulhumalé as a hub for residential, business, and recreational activities.
During the event, a Memorandum of Understanding (MoU) was signed between HDC and City Investments Pvt Ltd, represented by Director Nalinda Alathgame, to provide design consultancy for the Isle Adventure Park. HDC’s Managing Director, Fazul Rasheed, signed on behalf of HDC. The park is set to include a racing track, go-kart track, drift track, roller skating rink, and a water theme park, promising a unique attraction for residents and visitors alike.
Concept design for Isle Adventure Park
One of the highlighted projects is the Row House Development, which will see the construction of 32 private row houses in Hulhumalé Phase 2. Each unit will feature amenities such as exclusive clubhouses and a swimming pool. Meanwhile, the Modern Prefab Homes project, aimed at recipients of land plots through the Binveriya scheme, will be implemented with financing options from the recently launched Hiyaavehi loan scheme.
Concept design for the Modern Prefab Homes
Additionally, the Farukolhufushi Gated Community will provide luxury villa-style living, while a new HDC Head Office and SOE office complex will further boost the city’s commercial infrastructure. HDC also plans to build 15 parking buildings to alleviate parking congestion, as well as a dedicated Elderly Care Facility.
Concept design for the luxury gated community to be established in Farukolhufushi
Social housing remains a priority, with plans to construct 2,100 flats alongside commercial units intended for local businesses, reinforcing HDC’s focus on inclusive development.
Speaking at the ceremony, Managing Director Fazul Rasheed described these projects as transformative for both HDC and Hulhumalé. “These initiatives will drive economic growth and enhance the quality of life for residents,” he said. Fazul emphasized that the projects span various sectors, including housing, business, and entertainment, signaling a holistic approach to urban development.
He further noted that the corporation’s revenue is expected to triple as a result of these projects. Additionally, a water theme park is planned for Kudagiri Picnic Island, with accessibility for both locals and tourists, marking HDC’s efforts to expand leisure options in the region.
With the “Transforming Tomorrow” initiative, HDC aims to shape Hulhumalé into a vibrant, sustainable urban space, supporting economic growth and catering to the diverse needs of its community.
