Realtors raise concerns about new DAP

The members of the Real Estate and Housing Association of Bangladesh (REHAB) have not been able to sign any new agreements with land owners to launch a new project since the government unveiled the new Detailed Area Plan (DAP) four months ago.

Even no company has secured approval to roll out a new housing project, said the association yesterday.

"Most are working on old projects. As a result, there will be a shortage of flats in the future and their prices will increase," said Sohel Rana, vice-president of the REHAB, at a press conference at the Pan Pacific Sonargaon hotel in Dhaka.

Recently, the Rajdhani Unnayan Kartripakkha (Rajuk) came up with the new DAP for 2022-35.

Later, REHAB members met with the local government division minister, the convener of the DAP, and raised concerns about it and demanded a revision to the FAR (floor-area ratio), the ratio of a building's total floor area to the size of the piece of land upon which it is built.

"Most of the buildings in the main Dhaka will have four to five floors due to the reduction in the FAR announced in the new DAP. As a result, the housing shortage will be acute in the future," said the REHAB yesterday.

"Most of the buildings in the main Dhaka will have four to five floors due to the reduction in the floor-area ratio announced in the new DAP. As a result, the housing shortage will be acute in the future," said the REHAB

The association hoped the FAR would be revised.

Kamal Mahmud, vice-president of the REHAB, says that the price of many construction materials, including rod and cement, has gone up, so the price of flats will increase in the near future as well.

The press conference was organised to announce the annual winter fair. The association is going to organise the five-day exposition in Dhaka from December 21 with a view to showcasing flats, plots and other real estate and housing products.

Around 180 stalls will be set up at the fair venue at the Bangabandhu International Conference Centre. Building materials suppliers and financial institutions will also take part in the fair.

On the first day of the annual event, prospective customers and visitors can enter the fair venue at 2pm. During the remaining days, the fair would remain open to the public from 10am to 9pm.

The REHAB has been hosting the fair since 2001. So far, its members have handed over more than 2.25 lakh flats that were either sold or booked at the expositions.

The trade body also holds housing fairs in other countries such as the US, the UK, Canada, Australia, Canada, Italy and the UAE to allow non-resident Bangladeshis to buy properties at home.

"The fair can be a golden opportunity for buyers because many companies will offer flats at special prices," Mahmud added.