Real estate sector needs pragmatic strategy

A pragmatic strategy needs to be worked out urgently to help grow the country’s real estate sector smoothly and ensure housing for middle- and lower middle-income groups at an affordable cost, speakers told a seminar in the city on Sunday night. Terming the sector the engine of growth, they said the economy will remain vibrant if the sector remains vibrant as there are so many sectors which are directly or indirectly involved with the real state sector, and laid emphasis on optimum utilisation of land. They said private real estate developers are contributing about 12.12 percent of the country’s total GDP (gross domestic product) and proper policy and financing support from the government can help the real estate developers to contribute double, some 25 percent of the national GDP. Real Estate and Housing Association of Bangladesh (REHAB) arranged the seminar, titled ‘Secure and Prospective Investment: Real Estate Industry of Bangladesh’ at Ruposhi Bangla Hotel in the city. Prime Minister’s Economic Affairs Adviser Dr Mashiur Rahman spoke at the seminar as the chief guest while Bangladesh Bank Deputy Governor Dr SK Sur Chowdhury and Sonali Bank Chairman Prof AHM Habibur Rahman as special guests. Executive Director of Policy Research Institute (PRI) Dr Ahsan H Mansur, REHAB General Secretary M Wahiduzzaman and REHAB Vice President Maj Gen M Abdur Rashid also spoke on the occasion while Chairman, Seminar Standing Committee of the REHAB Shafiq Rahman presented the keynote paper at the seminar held with REHAB acting President Mukarram Hussain Khan in the chair, according to UNB.