Real estate fair pulls in crowds

A huge number of visitors flocked to a real estate fair in Dhaka yesterday, reflecting their renewed interest in the housing sector that faced a slowdown in recent years.

On the first day on Wednesday, hundreds of potential buyers visited stalls at the REHAB Fair 2016 at Bangabandhu International Conference Centre.

The Real Estate and Housing Association of Bangladesh organised the five-day winter fair where companies are showcasing their products and projects in 175 stalls. All the developers are receiving good responses, the association said in a statement.

The visitors, who were mostly from the lower-middle and middle income groups, were scoping out offers for small apartments, according to the association.

The realtors are offering discounts and gifts to attract buyers. Financial institutions that have lending operations in the housing sector are also taking part in the fair, presenting additional benefits for the visitors.

Participants said the potential buyers have taken project brochures and they hope they will contact them in future to make a purchase.

Apart from housing projects, developers are also showcasing various civic facilities, such as educational institutions, community centres, gymnasium and mosques.

Among the participants, Navana Real Estate has undertaken four projects in the capital's sprawling Mirpur area, keeping in mind the need and purchasing capacity of the middle-income buyers. Of the four projects, three projects -- Navana City Dale, Urban Dale and Spring Dale -- are located in Mirpur-15. There will be 1,500 flats in the projects with sizes ranging between 1,300 and 2,048 square feet.

Building Technology and Ideas Ltd, another developer, has undertaken two projects in Uttara, with the size of the apartments ranging between 935 and 1,249 square feet.

Rakeen Development is developing a city on 50 bighas of land in Mirpur-14. The housing project will have some 1,950 flats ranging between 1,553 and 1,872 square feet.

Riding on recent political stability and price corrections, Bangladesh's real estate sector may make a comeback this year, after three years of bad luck.

Since 2012, the once-burgeoning real estate sector has been in difficult times due to the intermittent political instability, squeezed bank loans, a bearish stockmarket, and a lack of adequate gas and electricity supplies.

The fair will continue until December 25.