Urbanco's name has officially been reverted to Housing Development Corporation (HDC).

The Housing Development Corporation (HDC) was rebranded to Urbanco on 1 April 2023. 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.

The ceremony to revert the name officially was held on Thursday morning.

Speaking on the occasion, Managing Director (MD) of HDC Ibrahim Fazul Rasheed said that HDC will expand and strengthen its services and make the services easily accessible to the people.

Highlighting the challenges of renaming HDC to Urbanco, Fazul said they "had to revert the name to HDC because one of the biggest challenges while dealing with a foreigner is the confusions regarding the company's name."

He pointed out that changing the name of a company has been challenging in dealing with investors and citizens for a long time.

After reverting Urbanco to HDC, Fazul said the name 'Urbanco', will be used as 'Sub-Branding', which is owned by the company.

"After re-branding, we will use it as a sub-branding for urban designing. Whether it's Urbanco or Kudagiri or Smart City or My Hulhumale', we have decided to make each of them sub-brands of HDC," Fazul said.