The use of the name 'Urbanco' has been discontinued and the name 'HDC' will be used again.

The Housing Development Corporation (HDC) was rebranded and Urbanco was being used as its name from April 1 last year. The company said at the time that the rebranding of the company was to make Urbanco a partner who could fulfill the dreams of the people.

A source in the company told One today that although the company has been called Urbanco, all official documents still use HDC's name and legally the name is used as HDC.

Therefore, the public is confused and that's why we decided to stop using the name 'Urbanco', he said, adding that the company was not rebranded in the name of HDC.

The company was established as a unit of the President's Office in 2001, followed by Hulhumale' Development Corporation and later operated as Housing development corporation.