Orders worth Tk 6.7b booked at REHAB Fair in Ctg
Friday, 5 February 2010
Pankaj Dastider
CHITTAGONG, Feb 04: Realtors gained instant orders worth Tk 6.7 billion and further commitment of Tk 5.4 billion during the just concluded three-day REHAB fair in the port city.
The developers and builders said they had received unexpected response from the lower income group of people, who want smaller plots or flats between 800 and 1,000 square feet at an average price of Tk 1,400 per square feet.
The fair held at the Tennis Compound of Chittagong Club was organised by the real estate and housing association of Bangladesh Chittagong chapter, It drew huge crowd thanks to attractive discounts and offers at the fair, an annual event organised by the trade body in the port city.
Maj (retd) Jamshed Hasan, chairman of REHAB Chittagong chapter and convener of the REHAB Fair, Chittagong-2010 told the FE that many clients showed interest for smaller flats and apartments at Tk 1,400 per sq ft.
The realtors said sales of apartments in the first half of 2009 fell because of the global financial crisis but gained in the second half and helped boost sales of mainly expensive and luxury apartments due to the budgetary provision allowing investment of black money.
They observed that the fair helped the REHAB members understand the need of the city dwellers, which would certainly help them increase business in future.
They are trying to cater to the needs of the growing housing demand of an increasing number of lower middle income and middle income groups in the port city. Their objective is to successfully develop several integrated residential projects on the outskirts of the commercial city and in the three hill districts.
Mr Jamshed said, "It is high time to develop residential projects in the city. But it needs government patronage. The Chittagong Development Authority and Chittagong City Corporation are the proper local authorities to take up coordinated efforts for such projects.
"We can turn Chittagong into a tourist paradise by not disturbing the natural beauty of the city if the government wants it to be developed by dependable developing houses on BOT (build, operate and transfer) basis in line with government's public-private partnership (PPP) system," he added.
"But the government should bring down the price of land. Apartment prices are higher now because the construction cost has gone up due to the hike in land prices, which has limited the purchasing capacity of the buyers," he said.
He also suggested that the government can take up projects for raising smaller apartments and plots in selected areas in the three hill districts for the lower income people living there.
CHITTAGONG, Feb 04: Realtors gained instant orders worth Tk 6.7 billion and further commitment of Tk 5.4 billion during the just concluded three-day REHAB fair in the port city.
The developers and builders said they had received unexpected response from the lower income group of people, who want smaller plots or flats between 800 and 1,000 square feet at an average price of Tk 1,400 per square feet.
The fair held at the Tennis Compound of Chittagong Club was organised by the real estate and housing association of Bangladesh Chittagong chapter, It drew huge crowd thanks to attractive discounts and offers at the fair, an annual event organised by the trade body in the port city.
Maj (retd) Jamshed Hasan, chairman of REHAB Chittagong chapter and convener of the REHAB Fair, Chittagong-2010 told the FE that many clients showed interest for smaller flats and apartments at Tk 1,400 per sq ft.
The realtors said sales of apartments in the first half of 2009 fell because of the global financial crisis but gained in the second half and helped boost sales of mainly expensive and luxury apartments due to the budgetary provision allowing investment of black money.
They observed that the fair helped the REHAB members understand the need of the city dwellers, which would certainly help them increase business in future.
They are trying to cater to the needs of the growing housing demand of an increasing number of lower middle income and middle income groups in the port city. Their objective is to successfully develop several integrated residential projects on the outskirts of the commercial city and in the three hill districts.
Mr Jamshed said, "It is high time to develop residential projects in the city. But it needs government patronage. The Chittagong Development Authority and Chittagong City Corporation are the proper local authorities to take up coordinated efforts for such projects.
"We can turn Chittagong into a tourist paradise by not disturbing the natural beauty of the city if the government wants it to be developed by dependable developing houses on BOT (build, operate and transfer) basis in line with government's public-private partnership (PPP) system," he added.
"But the government should bring down the price of land. Apartment prices are higher now because the construction cost has gone up due to the hike in land prices, which has limited the purchasing capacity of the buyers," he said.
He also suggested that the government can take up projects for raising smaller apartments and plots in selected areas in the three hill districts for the lower income people living there.