Housing fair begins tomorrow

A five-day housing fair is beginning in the city tomorrow with a view to showcasing flats and plots that are within the buying capacity of customers.

The Real Estate and Housing Association of Bangladesh (REHAB) is organising the winter edition of the event at the Bangabandhu International Conference Centre.

Co-sponsored by 27 realtors, the fair will feature 230 stalls and the participants will include 20 building material manufacturers and 14 financial institutions.

It was disclosed at a press conference organised by the REHAB at the Sundarban Hotel in Dhaka yesterday.

Addressing the event, REHAB President Alamgir Shamsul Alamin said the sector has got a shot in the arm after the central bank raised the ceiling on home loans by banks to Tk 2 crore from Tk 1.20 crore previously.

The recent decision of the central bank and the loan facilities for government employees are helping the sector recover from the crisis, he said.

“We expect at least 9 percent growth in 2019 after a dull 2018.”

The sector would get a further boost if the bank interest rate comes down to single digits, he said, adding that the construction sector accounts for around 15 percent of the country’s gross domestic product.

Liaquat Ali Bhuiyan, first vice-president of the association, said the high interest rate on home loans and a lack of access to long-term finance for all segments of the society were the main barriers to resolving the housing crisis in Bangladesh.

The fair will be open to visitors from 10am to 9pm. However, on the opening day, the visitors will be allowed to enter the venue after 2pm.

The entry fee is Tk 50 for one time and Tk 100 for a maximum of five.