How is customer demand shaping the real estate sector of Bangladesh? Read the bti blog to find out.
“Easy communication changed the scenario”
Source: Prothom Alo
Date: 8 October 2018
The article features the evolution of Mohammadi Homes Residential Area over the years as price of land in the area has skyrocketed from what it used to be in 2001 when the area used to be quite deserted. Before, per katha land price in the area used to be around Tk 7 lac which has now increased to Tk 85 lac.
The neighborhood is in Mohammadpur Dhaka and it is commonly known by the local people as “Mohammadi Homes Residential Area.” A resident of the neighborhood Mr. Anwar Hossain said that he had bought 3 katha land at Tk 21 lac in 2001 but the price has now increased by 13 times. There are hardly any empty plots in the area. He commented that the area has made quick progress due to easy communication system, good educational institutions nearby, security and large market place ensuring all the people get amenities within reach. The entire project was once owned by Mohammadi Housing Ltd. but common people bought the lands from them while the building construction job was contracted to Mohammadi Homes Ltd. Assistant General Manager of the company stated that they have been involved with the construction work in the area since 2006 where they are constructing 280 flats in about 300 katha of land. The existing price of flats in the area ranges from 75 lac to 95 lac and the area has no water or electricity problem. However, the downside includes overflowing of Ramchandrapur canal during rainy season, creating problems for the residents as the roads remain submerged and the accumulated water provides the breeding ground for mosquitoes. Mr. Hossain urged WASA to look after the canal to reduce the plight of the residents during the rainy season.
“Gas price not increasing in the real estate sector”
Source: Somoy News
Date: 12 October 2018
The report features a statement made by State Minister for Power, Energy and Mineral Resources Nasrul Hamid who spoke that gas prices in the real estate sector will not increase considering the public interest. He made the statement to the reporters at his home last Friday. He further added that gas supply has increased in Chattogram due to the emergence of LNG (Liquefied Natural Gas).
‘Pushpodhara wants to ensure proper housing’
Source: Daily Ittefaq
Date: 23 October 2018
The article features a customer program arranged by Pushpodhara Properties Ltd, a real estate company in Bangladesh. The program was held in the capital city recently. About 3000 customers attended the program. Professor of Dhaka University Dr. Ali Haider Morshed, Professor of National Textbook and Curriculum Board Dr. Riazul Hasan, Joint Director of Bangladesh Bank Akhter Hossain besides others also attended the program. In the program, Mr. Akhter Hossain commented on the development of Padma Bridge and its neighborhood. He said the area’s development will be inspired by Hong Kong city and the area will be a hub of commercial and business entities. He further spoke that with the development of Padma Bridge, the lifestyle of people in the neighborhood will also be upgraded. He hoped that the real estate company will be a partner of Padma Bridge- centric economy by ensuring accommodation for the general public. Managing Director of Pushpodhara added that the company is not only for business but also committed to the customers and hopes to continue its journey to gain the trust of customers. The program also included a raffle draw. The real estate company which was recently established in 2014 has two running projects – Padma Eco city and Padma Valley.
“Not just an apartment”
Source: The Daily Star
Date: 28 October 2018
The article refers to the changing demands of customers when it comes to buying an apartment in the city. With the change in apartment buyer’s taste, realtors in Bangladesh have started to incorporate new features and amenities so that they can provide more than just a building to the flat buyers.
Sheltech’s Managing director Toufiq M Seraj consented that they always try to keep pace with the evolving market. In addition, Md. Mahmudul Kabir – Executive Director of Sales and Marketing at bti resonated that bti consults with experts in the relevant field and tries to incorporate new innovation in its projects. Meanwhile, Managing Director of SEL Mohammad Abdul Awal stressed on the importance of fulfilling commitment to the customers and delivering quality products. Sarwar N Choudhury, Senior Assistanct Vice President from Bay Developments commented apartment customization to be the main factor behind selling of their apartments which are tailor made to suit customers’ needs. Customers also get to choose materials from the shop so they get the sense that they are building the home instead of buying a flat. Bay Developments also focuses on energy efficiency and is the first real estate company that introduced projects with double glazed windows as well as generator which supplies power depending on actual demand.
Mr. Mahmudul Kabir of bti also commented that bti is working towards zero waste be it material, human resources and time which would produce better products at reduced price. Recently bti has implemented fixed price policy on its projects to reduce the hassle of negotiations when buying an apartment.
“Micro-homes set to redefine Indian Housing”
Source: Economic Times of India
Date: 17 October 2018
The article highlights the emergence of micro-homes which will redefine studio and one bedroom apartments in the Indian real estate. Micro-homes ranging from 50 -350 sft are popular globally in countries like America, Europe and South East Asian Countries were students and young workers look for affordable accommodation with easy commute to workplace or university. Studio apartments and one bedroom apartments have been popular among young couples and singles for economic reasons. However, micro-homes will not just ensure affordability but also ensure comforts of living in a modern apartment with good design and in a prime location. The concept of micro-homes started with Mumbai city with sizes ranging from 189 sft to 320 sft. In the densely populated city and amidst high realty prices, micro-homes have been increasingly popular as these come with lifestyle amenities. The demand is also spreading in other cities including Bengaluru, Noida and there have been launches where the entire inventories have been sold out within 72 -96 hours. The trend for micro homes is popular among the young generation who opt for lifestyle and location instead of space. Developers are building micro-homes that come with all the luxury features including club house, community sports facilities, retail outlets and also include additional services like concierge and room services based on payment.
“bti introduces smart home”
Source: The Daily Jugantor
Date: 8 October 2018
The article features the launching of a new product category “The Platinum Collection” by building technology & ideas ltd. – bti. bti introduced its first line of homes in this collection with “THREE” situated at Gulshan 2 which incorporates smart living concept for the first time in Dhaka city. Situated overlooking the Gulshan Lake and surrounded by greenery, Three is an ultra luxury project of bti which comprises single unit apartments with over 7000sft.
The product was launched last Sunday at a hotel in the capital city where Mr. FR Khan – Managing Director of bti gave the welcome speech. Mr. Mahmudul Kabir – Executive Director of Marketing at bti introduced the special features of this product line. With integration of smart hub, residents will be able to remotely control lights, fans, TVs along with smart security features such as swipe card entry, fingerprint door lock and so on. The launching program also showed stage performance of popular drama “Konjush” by Lok Notto Dol. The event was jointly organized by bti and IPDC.