HDC announces new board director appointment

Housing Development Corporation (HDC) on Tuesday, April 15, announced the appointment of Ibrahim Tha’am Mohamed as the newest director to the corporation’s board.

The Privatization and Corporatization Board (PCB), which regulates and monitors all state-owned enterprises (SOEs) of the Maldives, on Tuesday confirmed Tha’am’s appointment.

Tha’am had been the State Minister of Construction, Housing and Infrastructure prior to his appointment to HDC’s board.

He will be replacing former board member Mohamed Waheed, who was dismissed earlier on April 6^th though HDC did not specify a reason for this removal.

HDC, which is mandated with the urbanization efforts of Hulhumale’, consists of 10 members on its board.

Earlier, all of its board members with the exception of its chairman had been suspended on December 19, 2024 after corruption allegations were made against HDC as it was revealed individuals who were not on the social housing ‘Binveriya’ scheme received land plots from Hulhumale’.

Despite this suspension, all board members were reinstated later on December 24 last year.

While the board directors were suspended, the Maldives Police Service is still investigating the case.