LONDON, March 09, 2018 (GLOBE NEWSWIRE) -- Located 8km off the northeast coast of Malè, the capital of Maldives, lies Hulhumalé, the country’s biggest and most ambitious city development.

The city of Hulhumalé was reclaimed with the aim of relieving the congestion and housing challenges facing the Maldives. The plans will effectively centralise the small island nation’s population, while also promising safer homes for migrants from the outer islands. Since breaking ground in 1997 with a total land area of 432 hectares, the city is now home to over 40,000 residents and boasts a multitude of mega projects, the likes of which have never been seen in the country.

Managed by the government-owned Housing Development Corporation (HDC), Hulhumalé is en-route to becoming a sustainable city - one that fosters creative entrepreneurship among the country’s dominant youth population by offering modern solutions to tackle social challenges. The city is connected to an international airport, and will soon be complete with a number of new facilities including a water theme park, a yacht marina, a football stadium and an international cruise terminal.

The investment will not only improve lives in the short run, but is designed to unleash the benefits of a virtuous cycle of investment and economic opportunity. Paving the way for economic resilience in a country largely dependent on the success of conventional tourism products, Hulhumalé is expected to transform the outlook of the Maldives from a sole luxury destination to a diversified and prosperous sanctum of new economic possibilities.

As the master planner of Hulhumalé, HDC oversees, manages and controls the land use plan, design and construction guidelines for the full range of its developments.  The company welcomes investors from all over the globe to the Maldives to partner in the creation of this city – a hopeful home for over two-thirds of the entire nation’s population.

To read more about HDC’s transformative work in the Maldives, pick up the latest issue of World Finance, available in print, online and on tablet now.

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Elizabeth Matsangou
Editorial Department
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