REHAB gets positive response from NRBs in the US
Wednesday, 5 November 2008
FE Report
The Real Estate and Housing Association of Bangladesh (REHAB) received spot orders worth Tk 110 crore at the two overseas housing fairs it recently organised in the United States. REHAB considers it a good achievement in the context of the current financial crisis.
REHAB executives said participating member companies were satisfied with the number of visitors and spot orders given by the expatriate Bangladeshis in New York and Florida.
A majority of orders, they said, were received at housing fair 2008 at New York where more Bangladeshis live. REHAB's past experience helped it organise its fifth consecutive fair in New York. It also helped its affiliated companies get better businesses this year.
The REHAB Office Secretary said the fair in Florida was organised as an experiment to know the economic behaviour of the non-resident Bangladeshis living there. He said Bangladeshis who migrated to this part of the United States earn better than in other areas.
"Initially it was assumed that the economic recession might leave an impact on the REHAB fairs," said REHAB President Tanveerul Haque Probal. In reality, he said the non-resident Bangladeshis responded positively opting to invest in accommodation back home.
He said as American banks have cut interest rates, the non-resident Bangladeshis, who are not big investors, opted to choose the alternative option of investment in housing in Bangladesh.
He told FE that the economic turmoil hit the US big investors. The Bangladeshis who earn less than the average Americans faced less impact of it, he added.
REHAB has been organising the international fair in New York since 2004 under its overseas market expansion programme. It also organised fairs in Rome, Italy.
Some 87 real estate and housing companies took part in the fairs cosponsored by Alien Properties Ltd, Concord Real Estate and Building Products Ltd, Genetic Ltd, Mission Energy and Properties Ltd and Sagufta NM Housing Ltd.
The first REHAB fair held in New York was participated by 29 companies. Last year's fair drew 46 real estate companies.
The Real Estate and Housing Association of Bangladesh (REHAB) received spot orders worth Tk 110 crore at the two overseas housing fairs it recently organised in the United States. REHAB considers it a good achievement in the context of the current financial crisis.
REHAB executives said participating member companies were satisfied with the number of visitors and spot orders given by the expatriate Bangladeshis in New York and Florida.
A majority of orders, they said, were received at housing fair 2008 at New York where more Bangladeshis live. REHAB's past experience helped it organise its fifth consecutive fair in New York. It also helped its affiliated companies get better businesses this year.
The REHAB Office Secretary said the fair in Florida was organised as an experiment to know the economic behaviour of the non-resident Bangladeshis living there. He said Bangladeshis who migrated to this part of the United States earn better than in other areas.
"Initially it was assumed that the economic recession might leave an impact on the REHAB fairs," said REHAB President Tanveerul Haque Probal. In reality, he said the non-resident Bangladeshis responded positively opting to invest in accommodation back home.
He said as American banks have cut interest rates, the non-resident Bangladeshis, who are not big investors, opted to choose the alternative option of investment in housing in Bangladesh.
He told FE that the economic turmoil hit the US big investors. The Bangladeshis who earn less than the average Americans faced less impact of it, he added.
REHAB has been organising the international fair in New York since 2004 under its overseas market expansion programme. It also organised fairs in Rome, Italy.
Some 87 real estate and housing companies took part in the fairs cosponsored by Alien Properties Ltd, Concord Real Estate and Building Products Ltd, Genetic Ltd, Mission Energy and Properties Ltd and Sagufta NM Housing Ltd.
The first REHAB fair held in New York was participated by 29 companies. Last year's fair drew 46 real estate companies.