Housing Minister Dr. Haider has announced that the Cabinet has made a significant decision to sell shares of the Housing Development Corporation (HDC) to the public. This move is aimed at increasing public participation in the housing sector and raising funds for future development projects. 

The decision reflects the government's commitment to expanding access to housing and improving infrastructure within the country. By selling shares to the public, the Cabinet hopes to not only enhance transparency and accountability in HDC's operations but also to invite investments from citizens, allowing them to become stakeholders in the corporation's success.

This strategic approach may also lead to improved financial stability for HDC, as the influx of capital can be utilized for ongoing and upcoming housing initiatives. The public offering is expected to generate significant interest among potential investors, given the essential nature of housing in economic development.

In a strategic move to streamline urban development efforts, the Cabinet also has announced the merger of Fahi Dhiriulhun Corporation (FDC) with the Housing Development Corporation (HDC), establishing FDC as a subsidiary of HDC. This decision aims to strengthen the management and execution of housing projects across the Maldives, ensuring a cohesive approach to urban development.

With HDC designated as the primary developer and parent company for urban projects, it is expected to leverage its resources and expertise to oversee larger-scale developmental initiatives. The Cabinet's decision underscores HDC’s pivotal role in shaping urban spaces and responding to the growing demands of the population.

Meanwhile, FDC will focus on managing all social housing projects, expanding its mandate beyond the Greater Malé Area to encompass the entire Maldives. This realignment allows FDC to better address the social housing needs of citizens, ensuring that affordable housing options are accessible to communities throughout the archipelago.

The merger presents an opportunity for both corporations to enhance efficiency and effectiveness in project delivery. By concentrating urban development under HDC and social housing management under FDC, the Cabinet aims to promote sustainable housing solutions that cater to the diverse needs of the Maldivian population, ultimately contributing to the nation's economic and social development goals.

As the details of the share sale unfold, key considerations will include pricing, the timeline for the offering, and the mechanisms through which shares will be made available to the public. Overall, this decision represents a bold step towards fostering a more inclusive economy and enhancing the housing sector's role in national development.