CHITTAGONG, June 12: The land developers of the country are passing tough time, as the price of land has gone up abnormally and the banks are not coming forward with funding.
The land developers of the country said this while speaking at a roundtable on 'Trends and Development Possibilities of Bangladesh Real Estate Sector' here on Wednesday.
The Rehab in association with the daily Prothom Alo organised the discussion ahead of a four-day real estate fair scheduled to begin at the Chittagong Club Sports Complex on June 18.
Joint Editor of the daily Prothom Alo Bishwajit Chowdhury moderated the discussion.
It is only the government that can help the sector come out of the situation, the developers mentioned.
The government can also patronise the sector by allotting Khas land or lease the acquired land to the developers for building flats for the middle class and lower middle class people of the country, they pointed out.
Only then the sector can survive, they added.
The developers severely criticised the government as some government agencies including Rajuk (Rajdhani Unnayan Kartripakkha) are doing real estate business instead of acting as facilitators.
They suggested that some satellite townships be developed on the outskirts of the port city for middle and lower middle class people, as the city is rapidly becoming over-populated.
They also suggested that those townships should be well-connected with the main city so that people living on the outskirts can easily reach the city within an hour or so.
Addressing the roundtable, Chairman of Chittagong Development Authority (CDA) Abdus Salam said the real estate sector of the country progressed beyond expectation over the last two decades.
Speaking on the occasion, CCCI President Mahbubul Alam urged the Rehab members to find out dishonest developers who were cheating the people and bring them to book.
In his address, Acting President of Rehab Rabiul Haque said the role of real estate sector in the country's development could not be ignored.
But there are bottlenecks in getting land and permission for developing land. The real estate developers cannot sell flats to the poor people as the price of land is skyrocketing, he added.
Mr Haque alleged that the real estate sector was not getting government support like the readymade garment (RMG) sector.
He also alleged that the public-private partnership (PPP) scheme of the government was not functioning properly and the developers were not getting the required support in materialising their plans.
Among others, FBCCI Director MA Salam, BGMEA First Vice President Nasiruddin Ahmed Chowdhury, IEB Chittagong Centre Chairman Manzarey Khorshed Alam, Engineer MA Rashid, Architect Taslim Uddin Chowdhury, Architect Sohail M Shakoor, Dr Moinul Islam Mahmud, Wahid Malik, Rehab Chittagong zone Chairman (elect) Engineer SM Abu Sufian, Abdul Kauiam Chowdhury, roundtable committee convener Dr Kazi Aynul Hoque and Engineer Delwar Majumder were also present.
‘Land price hike poses challenge to realtors’
Our Correspondent | Published: June 13, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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