Sheltech opens Tk 25cr hotel in Jan | The Daily Star
12:00 AM, November 18, 2008 / LAST MODIFIED: 12:00 AM, November 18, 2008

Sheltech opens Tk 25cr hotel in Jan

The model of Platinum Suite to be built by Sheltech.

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Sheltech, one of the real estate leaders in Bangladesh, is set to inaugurate a Tk 25 crore hotel in Dhaka, as the company now eyes the hospitality sector and targets foreigners.
“The Platinum Suite will be a state-of-the-art hotel and we mainly aim to attract foreign guests, buyers, consultants and delegates,” Sheltech Managing Director Toufiq M Seraj told The Daily Star.
He said the number of foreign guests visiting our country is ever increasing on the rise in the volume of international trade and the number of meetings and seminars organised by local and international office and NGOs.
"Existing hotels in Dhaka can hardly accommodate the number of foreign visitors and officials, especially the long-term foreign travellers. This is why Sheltech is going to enter a new avenue of business, the hospitality and tourism management sector," Seraj said.
The six-floor Platinum Suite with 24 rooms will be opened in Banani in January.
Four entrepreneurs--former adviser to the caretaker government Tapan Chowdhury, his brother Samuel Chowdhury, former BGMEA president Kutubuddin Ahmed and Taufiq M Seraj-- started Sheltech in 1988.
Seraj said recently two managing partners left the ownership of the company.
"Tapan Chowdhury and Samuel Chowdhury sold a third of the shares of Sheltech to the other two partners in April this year,” Seraj said.
Without revealing the amount of the deal, he said the founding partners of Sheltech have sold their shares as they already have a very big family business, one of the local industrial conglomerates 'Square Group'.
He said Sheltech has already bought four bighas of land at Mirpur Mazar Road to build 'Sheltech Bithika', a structure consisting of 250 apartments having all amenities, mainly for middle class people.
"Our target is the customers who plan to buy an apartment availing of the loans offered from the Bangladesh Bank Housing Scheme," he said.

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