On Thursday, January 18, 2024, the Housing Development Corporation (HDC) officially reverted to using its original name as its corporate identity, abandoning the use of the ‘Urbanco’ branding that was adopted in a full makeover officially launched in April 2023.
In a statement posted via X, HDC explained that the decision to reinstate the original name was aimed at reconnecting with its roots. The corporation emphasized its commitment to creating diverse initiatives for the community, in line with its original mandate as master developers of smart and safe cities.
“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 stated.
The corporation underwent a full makeover costing MVR 1.8 million, which included changes to the headquarters, office stationaries, and official apparel of its employees, all reflecting the ‘Urbanco’ branding. The rebranding effort involved expenditures such as MVR 353,008 to replace tents, display banners, and the stand in front of the headquarters to reflect the ‘Urbanco’ name. Another MVR 279,000 was spent on replacing stationaries and water mugs featuring the ‘Urbanco’ branding and logo.
The decision to revert HDC back to its original title had been under consideration for some time, with President Dr. Mohamed Muizzu strongly suggesting it earlier. During a campaign rally, Dr. Muizzu alleged that the corporation, under its previous management, had impulsively rebranded in violation of legal procedures to benefit a third party.
At the time of its rebranding, HDC, under the ‘Urbanco’ title, claimed that the change reflected the corporation’s expanding portfolio and business objectives, no longer confined to the satellite town but encompassing the wider Greater Male’ Region.
