Housing Development Finance Corporation (HDFC)

MANAGING DIRECTOR

Housing Development Finance Corporation (HDFC) was incorporated in 2004, by a Presidential Decree under the Companies Act. (Act No. 10/96). HDFC’s commercial operations commenced on 29th March 2004 with hundred percent shareholding by the Government of Maldives which later in 2008 was privatized with the shareholding from ADB, IFC and HDFC Investments Ltd., (India) holding 51% of the share and the 49% of the shares by the Government of Maldives. HDFC is unique as the only mortgage housing institution in the Maldives. As the demand for housing loans continues to grow which exceeds the supply, and to find the matching funds, we have structured and issued long-term Bonds and Sukuk in MVR as the way forward.

PRODUCTS & SERVICES:

HDFC offers both Conventional and Islamic housing finance facilities with affordability, flexibility, longest repayment method period and highest quality of service in the Maldives. Our products are available for home construction, home purchase and home renovation. We also manage government social housing schemes under both conventional and Islamic concepts. Some of the products are: 1. Home construction and Home purchase 2. Home improvement 3. Lease buyout 4. SOE product 5.