Male’, Maldives – The companies, Greater Male’ Industrial Zone Limited and Housing Development Corporation (HDC) have announced that the two companies have now been merged.
In an announcement by the Greater Male’ company, it read that the government has decided to merge both companies, considering the financial and operational benefits as well as the plans to develop the greater Male’ area with the inclusion of Hulhumale’ Thilafushi and Gulhifalhu.
It further read that the development of Hulhumale’, Thilafushi and Gulhifalhu would proceed as per the plans and consultation of the government.
“Hence, as the first step, we publicly announce that all assets, liabilities, employees, agreements and all roles and responsibilities of the Greater Male’ Industrial Zone Limited have been finalized to be transferred to Housing Development Corporation.” read the announcement.
It also said that any changed to be brought to the documentations with regards to agreements with other parties would be communicated soon.