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The Hous­ing De­vel­op­ment Cor­po­ra­tion (HDC) will dis­con­tin­ue its two sub­sidiaries, Fa­cil­i­ties Es­tate Man­age­ment Com­pa­ny Lim­it­ed (FEM­CoL) and As­set Man­age­ment Com­pa­ny Lim­it­ed (AMC), ef­fec­tive No­vem­ber 1.

HDC chair­man Feeroz Khan con­firmed that the move to bring the sub­sidiaries’ func­tions back un­der the main cor­po­ra­tion stems from a “failed struc­tur­al ex­per­i­ment”.

Work­ers told Guardian Me­dia that HDC Man­ag­ing Di­rec­tor Jay­selle Mc­Far­lane met with staff yes­ter­day to of­fi­cial­ly com­mu­ni­cate the clo­sure time­line. FEM­CoL em­ploy­ees were ad­dressed via Zoom, while AMC staff at­tend­ed an in-per­son brief­ing.