On Thursday, Housing Development Corporation (HDC) announced that it is greenlighting the commercial use of first floors in private-owned buildings in Hulhumale. The purpose of this decision is to promote the growth of Small & Medium Businesses (SMBs) in Hulhumale City. With this decision, entrepreneurs can utilize the first floors to establish shops, restaurants, and other service provider outlets. However, HDC has banned the use of these commercial spaces for industrial use such as go-downs and garages and this is effective for ground floors, 1st floors and 2nd floors as well.
The decision was facilitated with the advice of the Ministry of Economic Development and aims to provide more opportunities for SMBs to conduct business in Hulhumale and bring economic prosperity to the city. Furthermore, it would diversify the number of services provided in Hulhumale through different service providers selling various goods and services, bringing great ease to the residents of Hulhumale.
The Ministry of Economic Development has been continuously striving to promote the growth of SMBs. As such, the ministry has even facilitated loan schemes for small businesses helping them recover from the pandemic as well. HDC extends its full support to the ministry in its efforts to promote SMBs in the Maldives.