The Housing Development Corporation (HDC) has officially commenced the process of establishing Management Corporations for strata-titled buildings, as mandated under the Strata Act and its accompanying regulations.

This initiative begins with the Vinares housing project in Hulhumalé. HDC has announced that the inaugural Annual General Meetings (AGMs) for Strata 1, 2, and 3 are scheduled to take place on April 26, 27, and 28, respectively. These meetings represent a significant step toward decentralized property management in urban residential developments.

The primary objective of these AGMs is to elect administrative councils that will oversee the management and maintenance of the properties. Each council will be composed of a President, a Treasurer, a Secretary, and one general member. Once elected, these bodies will assume the legal responsibility for the upkeep and operational governance of their respective strata buildings.

The first set of AGMs will be attended by unit owners, alongside officials from HDC and the Ministry of Housing, Land, and Urban Development. While the law requires these meetings to be held annually, the responsibility for organizing subsequent sessions will transition from HDC to the newly elected management councils following their formation.