Vol. 5 Num 50 Fri. July 16, 2004  

Rehab housing fair in New York next month

In a bid to promote the country's housing and real estate business by wooing Bangladeshis living in the US, the Real Estate and Housing Association of Bangladesh (Rehab) is going to organise a five-day housing fair next month in New York.

The event titled "Rehab-Biponon Housing Fair 2004" will begin on August 19 at Quality Hotel Hampstead in New York city. Rehab is organising the fair in association with Biponon, a US-based marketing company.

Describing the objectives of the fair, Rehab's Senior Executive Member Ziaul Ahsan said the fair would encourage expatriates to build their houses in Bangladesh as well as attract foreign investors to the country.

Through this fair, the expatriates will get the opportunity to know all about the housing business in Bangladesh, he said. "We think if they know about our real estate sector, they will move to invest in the sector."

Ahsan said the exhibition would contribute to earning more remittance from the US and making more foreign investment in the country’s real estate sector.

A total of 29 Rehab member companies will take part in the fair. They are Building Technology and Ideas Ltd, Hamid Real Estate Construction Ltd, Sheltech (Private) Ltd, Eastern Housing Ltd, East West Property Development Private Ltd, Latif Real Estate Ltd, Bosoti Consortium Ltd, Suvastu Development Ltd, Hasan and Associates Ltd, Amin Mohammad Group, Rangs Properties Ltd, Tropical Homes Ltd, Building for Future Ltd, Ena Properties Ltd, Concord Real Estate and Building Products Ltd, Brac Concord Lands Ltd, Bangladesh Development Company Ltd, Borak Real Estate (Private) Ltd, Living Stone Ltd, Equity Property Development Private Ltd, Japan Garden City Ltd, Al-Hasan Developers Ltd, NM Housing Ltd, Sumona Private Ltd, Rupayon Housing Estate Ltd, Mega Builders Ltd, Assurance Develop-ments Ltd, Building Development and Design Ltd and Crescent Holdings Ltd.

According to Rehab, its 145 members delivered 70,000 to 80,000 apartment units to their customers in last 20 years. Besides, they have been delivering 4,000 to 6,000 plots a year.

The Rehab statistics show the annual turnover of the real estate sector amounts to Tk 7,500 crore and the government earns Tk 700 crore in revenue a year from the sector. About 15 lakh skilled and unskilled labourers are working in this sector.