Rupayan City, a subsidiary of Rupayan Group, signed an agreement with North South Society to develop a "luxury city" on the latter's 46 bighas of land at Block-N adjacent to Bashundhara Sports Complex near Purbachal Express Highway.

Mahir Ali Khan Ratul, co-chairman of Rupayan Group, and Anwar Hossain, chairman of North South Society, inked the deal at the Sheraton Dhaka in Banani on Monday, a press release said.

Liakat Ali Khan Mukul, chairman of Rupayan Group, Ahmed Akbar Sobhan, chairman of Bashundhara Group, and Sharif Ahmed, state minister for housing and public works, graced the occasion.

M Mahbubur Rahman, chief executive officer of the realtor, Md Abdul Hamid, convener of the project implementation committee of North South Society, Sadat Hossain Salim and M Shamim Z Basunia, advisers of Rupayan Group, were also present.