Housing Development Corporation (HDC), on Thursday, January 18, 2024 has officially begun to use its original name as its corporate identity.
The corporation dropped any usage of its former branding of ‘Urbanco’, and commenced its Thursday operations under the new name.
In its post via X, HDC said that the decision to reinstate the original name was with the “aim of connecting” with its roots, and said that HDC would strive to “create diverse initiatives” to benefit to community; as was its mandate originally.
“As master developers of smart and safe cities, we are dedicated to improving our community through ongoing work on community projects aimed at fostering a sense of belonging,” HDC said.
The corporation experienced an MVR 1.8 million full makeover, which became official on April 2023. Its original title was changed to ‘Urbanco’ after which subsequent changes were made to the headquarters, office stationaries, and even the official apparels of its employees.
Under the said rebranding effort, HDC paid MVR 353,008 to replace its tents, display banners and the stand in front of the headquarters to reflect the ‘Urbanco’ name. Another MVR 279,000 was spent towards replacing the stationaries and water mugs that reflected the ‘Urbanco’ branding and logo.
The decision to revert HDC back to its original title was on the table for sometime, with President Dr. Mohamed Muizzu heavily suggesting it earlier.
During a campaign rally back when he was contending for the presidential spot, Dr. Muizzu alleged the corporation, under its previous management, opted for an impulsive rebranding effort in violation to legal procedures to illicitly benefit a third-party.
Around the time of its rebranding, HDC under its ‘Urbanco’ titled had said that the change reflects the corporation’s expanding portfolio and business objectives; that were no longer concentrated on the satellite town but the wider, Greater Male’ Region.