President Nasheed has said that the government plans to change the name of ‘Hulhumalé Development Corporation’ to ‘Housing development Corporation’. The President made this announcement at a press conference held today at Hulhumalé.

The President said that with this change of name, the Corporation’s mandate would also expand and would include providing housing facilities. Further, he said that one of the rules that the government would hold was that no household should have to spend more than 20% of their incomes for housing.

President said that construction of ten thousand housing units will start this year and that these housing units would be set across the provinces, Malé and Hulhumalé. Speaking in this regard, the President said that eleven hundred housing units would be built in Malé, nine hundred units in Hulhumalé and at least seven thousand in units in the provinces.

The President was joined at the press conference by the Minister of Housing, Transport and Environment, Mr Mohamed Aslam and Managing Director of Hulhumalé Development Corporation Mr Mahjoob Shujau.