Retail giants rush to Mirpur to cash in on growth spurt
Retail giants and realtors are increasingly flocking to Mirpur and its surrounding areas to tap the opportunities being offered by the growing swathe of the capital.
One of them is Bata Shoe Company Bangladesh, the local operations of the multinational company. The company has opened 12 stores in Mirpur since 1991 when its first outlet was established in the area.
"There was a time when high-end products were not sold in this zone," said Arfanul Hoque, head of retail at Bata. "But the situation has changed as people's buying capacity has increased and there are a growing number of customers."
Aarong, a popular lifestyle brand, opened its first outlet in Mirpur in 2010. There are currently two Aarong outlets in the area. Mirpur was chosen as it offers a chance to reach a larger group of customers.
Initially, the current branch of Pizza Hut at Mirpur-2 was only a delivery spot. Then, after getting a good response from customers, it started offering the dining facility in 2023.
Mominul Islam Maruf, manager of Supreme Diners, says there were three restaurants at Mirpur-1 in 2010. One of them used to clock sales of Tk 1 lakh a day.
"Now, the sales volume has gone down because of intense competition," he said.
Sony Cinema Hall, once a relic of the past, has been upgraded to Star Cineplex's Sony Square, a popular hangout for food and entertainment.
Mesbah Uddin, head of media at Star Cineplex, says a few years after the first theatre was opened at the Bashundhara City shopping mall, it was observed that a huge number of movie-goers were from Mirpur.
That prompted the company to initiate a search for the location. Finally, Sony Cinema in Mirpur was chosen.
"We were doubtful initially whether the people of Mirpur would spend Tk 500 to Tk 600 to watch a film. But they have proved us wrong."
Restaurant chain Pizza Inn opened one of its outlets at Sony Square seven years ago and received a positive response as there was no high-quality restaurant at that time.
Later, several other restaurants were set up in the same building. Still, Pizza Inn is faring well, said Abdur Rahman Chowdhury, a manager of the outlet.
Agora Limited started its journey as the first superstore in Bangladesh in 2001. Twelve years later, it opened a store in Mirpur. At present, it has four outlets there.
Shwapno, the largest grocery chain in Bangladesh, runs 26 outlets in Mirpur, according to Sabbir Hasan Nasir, executive director of ACI Logistics, the owner of the chain. Shwapno arrived in Mirpur in 2009 by opening its first outlet at West Kafrul.
In recent years, retailers selling electrical and electronic products, automobiles and home appliances have set up their stores in the locality.
Walton Hi-Tech Industries, a powerhouse in the local market for consumer electronics, rolled out its first store in Mirpur in 2003. Today, it has 20 stores.
"Mirpur is one of the leading sales zones of Walton products in the country," said Augustin Sujan, additional operative director of Walton.
Mirpur is a perfect location for the food business as more residents are choosing to eat out, said Mizanur Rahman, assistant general manager of Biryani chain Kachchi Bhai. It opened its first branch five years ago and currently has three in total.
As people are flocking to Mirpur for low-cost housing, the demand for real estate has climbed. Mirpur, once known for urban squalor, has emerged as a real estate hotspot. To try its luck, BASIC Builders, one of those realtors, started its business in 2008 and constructed 20 buildings in Mirpur.
"After surveying several areas before starting the project, it seemed to us that Mirpur was going to be the next Gulshan because the area has wide roads. You can find such wide roads in Banani and Uttara," said Abdul Latif, managing director of the real estate company.