HDC drops ‘Urbanco’ rebrand, returns to ‘roots’

Housing Development Corporation has reinstated HDC as its corporate identity, less than a year after it was rebranded as ‘Urbanco’.

HDC unveiled the logo and brand name to reflect its legal name on Thursday, in a ceremony attended by the corporation’s managing director Ibrahim Fazul Rasheed and other top officials.

“With the aim of connecting with our roots, today we've reinstated HDC as our corporate identity, and we strive to create diverse initiatives that benefit our community,” announced the corporation, in a post on X.

“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.”

Though HDC previously said that it decided to change the corporation’s name to the Maldives Urban Development Corporation and rebrand itself as Urbanco in 2021, the decision wasn’t implemented until April 2023.

The rebranding cost over MVR 1.2 million.

According to the information released at the time, the biggest spending was on creating the company’s new flags, tents and display banners, with MVR 353,008. Another MVR 279,000 was spent on merchandise including pens, notebooks and mugs with the new logo.

President Dr. Mohamed Muizzu had previously alleged that HDC was rebranded to Urbanco without making any legal changes, simply to award money to a party.