Housing Development Corporation (HDC) on Tuesday, has announced the appointment of its newest board member, Ibrahim Tha’am Mohamed.
Privatization and Corporatization Board (PCB), the watchdog authority of all state-owned enterprises (SOEs) in the Maldives, confirmed Tha’am’s appointment effective Tuesday onward.
Prior to his appointment to HDC’s board, he had been the State Minister of Construction, Housing, and Infrastructure.
Tha’am is also the replacement of Mohamed Waheed, who was removed from the board earlier on April 6, 2025. HDC did not specify a reason for this dismissal.
The board of HDC consists of 10 members.
Earlier on December 19, 2024 all of the board members, with the exception of its Chairperson, were temporarily suspended after it was revealed that HDC had been involved in awarding social housing plots under ‘Binveriya’ Scheme to individuals who were not in the finalized list.
Although all of the board members were suspended, they were reinstated later on December 24 last year.
Maldives Police Service is still investigating the case, and have yet to provide further information on the matter.