Maldives government came through with its decision of merging HDC with GMIZL.
Moreover, the merger will grant new authority to develop Thilafushi, Gulhifalhu and Hulhumale’ under a singular management.
The state observes the merger as a move to improve operational efficacy and to leverage economic and financial benefits.
Meanwhile, the multi-island development projects will run in accordance with strategies made by current administration.
Furthermore, the merger meant transfer of GMIZL’s legal ownership along with its assets, liabilities under HDC.
This decision have also put transition of GMIZL personnel and contractual agreements as well as its obligations under HDC supervision.
Additionally, the merger means GMIZL will seek to novate its contractual agreements under HDC.