Thursday, November 29, 2007

REHAB Fair 2007 Concluded

REHAB Fair-2007 concluded on 25th November, 2007 with the commitment to lower the cost of urban housing.

Real estate companies yesterday pledged to develop lower cost urban housing solutions in order to meet the growing demands for affordable homes in Dhaka. While the focus was on the lower cost solutions a few luxury developers could be found. Developers are now planning most of their new projects targeting middle class people who make between Tk 20,000 and Tk 40,000 a month. A number of factors, including soaring construction costs and the government's drive against black money, have contributed to a sharp fall in the sale of apartments, which are down around 50 percent so far this year, according to REHAB. If the government builds proper infrastructure like highways and a good public transport system, developers will start to build lower cost housing projects in the suburban areas. It is observed that per square foot price of flats in Dhaka ranges between Tk.2,500/- and Tk.6,000/- depending on location.
Speaking as the chief guest at the closing ceremony of the REHAB Fair 2007 at a city hotel, Gen Moeen also expressed hope that in re-building infrastructure, all would abide by the Mahanagar Nirman Nitimala 2007 to ensure planned urbanisation for the sake of future generations. Army Chief Gen Moeen U Ahmed yesterday called on property developers to help build cyclone shelters and social housing for the disenfranchised. Appreciating the Tk 1 crore donated to the cyclone victims by the Real Estate and Housing Association of Bangladesh (Rehab), Moeen asked the organisation "To come, fund and build new cyclone shelters for people and cattle."

Despite the slump in the real estate sector, there was little evidence of a lack of enthusiasm among the crowds at the jam-packed fair. Highest a total of 136 REHAB members and 5 financial companies participated in this years fair.

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