The government is set to develop the much-talked Jhilmil residential park for Tk 8,000 crore under a public-private partnership arrangement, said the Rajdhani Unnayan Kartripakkha (Rajuk) in a statement yesterday.

Under the scheme, 85 high-rise buildings will be constructed. Of them, 60 buildings will be 20-storied and the rest 25-storied.

Located at Keraniganj, the Jhilmil residential scheme is one of the much-publicised projects of the government to be developed on about 160 acres of land.

Some 13,832 apartments will be built under the project, which will also include mosque, gymnasium, community centres and other civic amenities, the statement quoted Rajuk Chairman Md Abdur Rahman as saying.

He said the housing project will complete in four years, with construction starting from January 2018.

“We will offer flats at Tk 4,500 per square feet and if you wish, you can start buying flats in the Jhilmil project from now onwards,” said Housing and Public Works Minister Mosharraf Hossain at the contract signing ceremony to develop the residential area.

The project is aimed at reducing the growing pressure for residential spaces in Dhaka by building houses on the outskirts of the capital.

The flats will be sold among the lower and middle income segments at easy instalments.

Rajuk called for proposal for the residential project in January this year. The work order was given to the consortium in October, according to the statement.

The agreement was signed between the Rajuk and a tri-nation consortium comprising BNG Global Holdings SDN BHD, Jianxi Construction Engineering and Multiplex Holdings. Rajuk Chairman Rahman and BNG Global Holdings CEO Sharifah Sabrina signed the deal at the Pan Pacific Sonargaon Hotel in Dhaka. Planning Minister AHM Mustafa Kamal and State Minister for Power Nasrul Hamid were also present.