HDFC to play active role in NE housing

Sanjeevi Jayasuriya

The Housing Development Finance Corporation (HDFC) caters to housing needs of low and middle income segments of the country.

Housing is a national need and as a premier housing institution, HDFC focuses on fulfilling their needs.

“We are geared to play a dominant role in the housing industry where there is a growing demand,” newly appointed HDFC Chairperson Siromi Wickramasinghe told Daily News Business.

There is a growing demand for housing needs in the North and the East regions and HDFC will target to capture this market. HDFC will support the Government policy in keeping with the vision of the President Mahinda Rajapaksa - Shelter for all.

The HDFC will play an active role in the North and the East development. It is in the process of conducting a survey to assist flood victims.

“We will help customers affected by floods and hope to look into their problems. Action will be taken to grant relief on their repayment requirement. The affected could contact the nearest branch for more details,” she said.

Among the future plans of the HDFC would be to carve a brand name as premier housing institution and to become an expert in housing and related services.

The low interest rate regime is an encouragement for the housing sector to develop and obtain loans to build houses. The construction industry will benefit from these activities and fuel an economic growth.

The HDFC will expand its 27 branch network further with the addition of four branches in the North this year. The Vavuniya branch will be opened on June 8.

Wickramasinghe has 28 years experience in the banking and financial services sector.

HDFC is a quoted company in the Colombo Stock Exchange with its share currently trading at Rs 170. It has a BBB+ rating from Fitch Ratings.