Managing Director of Housing Development Corporation (HDC) Mohamed Saiman has been changed to the Managing Director of Greater Male' Industrial Zone Limited.
Former Managing Director of Greater Male' Industrial Zone Limited Mohamed Nafiz has now been appointed as the Managing Director of HDC, following the change, according to Privatisation and Corporatisation Board. Mohamed Saiman was appointed as the Managing Director of HDC in 2015.
Greater Male' Industrial Zone Limited was established to combine the Gulhifalhu Investment Limited and Thilafushi Corporation Limited. Greater Male' Industrial Zone Limited is mandated with the responsibilities previously held by both these companies.
Meanwhile, HDC is a 100% state-owned enterprise formed by a presidential decree, initially established in 2001. HDC is currently working towards creating Hulhumalé to become the first smart and sustainable city in Maldives and is involved in undertaking projects of hospitality, industrial, recreational, commercial and residential in nature, many of which are unique and of a scale unseen in the country.