Sahara to invest $120m in Bangladesh

Sahara to invest $120m initially in Bangladesh Real estate and Housing Sector.

Sahara Group of India wants to initially invest $100 to $125 million for a township-housing scheme near the capital Dhaka, its Chairman Subrata Roy Sahara said in a press conference at Ruposhi Bangla Hotel, Dhaka on Friday, May 28, 2012. The Group has launched its subsidiary organization “Sahara Matribhumi Unnayan Corporation Limited”.

Subrata Roy Sahara, managing worker and chairman of Sahara India Paribar, introduced Sheikh Fazle Fahim, son of Awami League presidium member Sheikh Fazlul Karim Selim, as director of the new company and 'mentor' of the Group in Bangladesh at the press conference.

The conglomerate is keen to implement “New Dhaka” the housing scheme for the low-income group of people around the capital with all modern amenities. They have sought 1 lakh acre free land from the government and the company will bear all the costs needed for completing the project. A proposal has already been placed to the Bangladesh government in this connection.

The Chairman of the group said they would not build any concrete jungle; rather they would provide the people with a “complete lifestyle”. He expressed his view of working in Bangladesh to 'complement', not to 'compete', with other business bodies for the development of the country.

Subrata Roy Sahara

Mr. Sahara had earlier signed a memorandum of understanding (MoU) with Rajdhani Unnayan Kartripakkha (RAJUK) in this connection and had a meeting with Prime Minister Sheikh Hasina during his four-day visit here.

Citing a BoI (Board of Investment) report, he said that Bangladesh received investment of $ 600 million over the last 40 years from India. "It is very much insignificant. Our proposed initial investment of $ 120 million will be, so far, the largest one from India," he added. 

Apart from the infrastructure and housing sector, Sahara has plan to invest in some other projects in the country's different sectors including IT, health, education, power and tourism.

During his three-day visit he had several meetings with the top officials of Bangladesh Bank and Board of Investment and placed a number of investment proposals for at least 10 sectors in Bangladesh.

Asked about the reason behind coming to Bangladesh, Subrata Roy said, “After India, this is the land which seems to me as my own land. Doing business is not the lone reason for coming here. I have an emotional attachment with this country as my maternal root is from Bikrampur and bright business opportunity here as the country’s economy is growing rapidly”. Mr. Subrata said they are also interested to do something for Bangladesh cricket, "The Sahara logo has been on the jersey of Indian cricket team for the last 10 to 12 years. I am not announcing but it may be possible to see the same logo on the jersey of Bangladesh cricket team too."

Different company logos under Sahara Group

REHAB Summer Fair'12

REHAB Summer Fair'12

REHAB has announced its schedule for next national summer fair. The REHAB Summer Fair'12 will be held from 14-17 June, 2012 at Bangabondhu International Conference Centre (BICC), Dhaka, Bangladesh.

It is an opportunity for the customers to pick their desired property from the most suitable project. Or atleast you can compare the offers they are showcasing. We always recommend you all to visit the realestate fairs to gain an overall idea about the real estate and property market of Bangladesh.

Bangla New Year 1419 Celebrated

Bangla New Years Greetings. Shuvo Nobo Borsho.
First day of the bangla new year is celebrated as pahela boishak. Baishakh is symbolic of a renewal. This year apart from other programs, a new thing, painting the largest alpana in the world on both sides of the Manik Mia Avenue in Dhaka. On the eve of Bangla New Year, five eminent artists, Inset, coordinated the 350,000 square feet motif representing the folk culture of Bangladesh. It is really big thing and people all walks of life has taken part in this painting work with excitement.

REHAB Fair 2009

Real Estate and Housing Association of Bangladesh (REHAB) has organized this years fair REHAB Fair 2009 at Dhaka Sheraton Hotel. The fair starts on 5 January, 2010 and ends on 9 January, 2010. On this occasion REHAB starts REHAB week from 3 January, 2010 by organizing Blood Donation Program and various competitions among children. 268 organizations are participating in this years fair out of this 4 Banks and Financial Institutions are also taking part.

Greetings of Pahela Baishakh

"Esho hey Baishakh, Esho, Esho"..... Shuvo Nababarsha.
Greetings of Bangla New Year 1416 from myRealEstateBD.com


Thousands of city dwellers thronged in and around the capital’s Ramna Batamul area at dawn yesterday to greet the Bangla New Year 1416 amid unprecedented security.

Women wearing colourful saris and men in panjabi and pyjama turned out early in the morning to dance and sing in the lush green Ramna Park, the focal point of celebrations in the capital, to welcome year 1416 in the Bangla calendar while troops with sniffer dogs circled round.

Thousands of people gathered at Ramna Udyan where the artistes of cultural organisation Chhayanaut sang the traditional Pahela Baishakh song of Rabindranath Tagore -- "Esho hey Baishakh esho esho"-- to welcome the Bangla New Year.

REHAB Fair Chittagong 2009 starts on January 29, 2009

REHAB Fair Chittagong 2009 begins from tomorrow 29 January at Chittagong Club, Chittagong.


Real Estate and Housing Association of Bangladesh (REHAB) has organized a 3-day long housing and real estate fair at Chittagong, it starts on 29 January and ends on 31 January, 2009. The venue of the fair is Chittagong Club, Chittagong.


Total 68 Real Estate and Financial organizations of Dhaka and Chittagong is participating in the fair. The fair will open at 10am and close at 9pm each of the 3-days.

Visit: www.myRealEstateBD.com for updated Real Estate information of Bangladesh.

RAJUK extended time for application upto 15 January, 2009 for Uttara and Purbachal

RAJUK has extended time upto 15 January, 2009 for application of allotment of Plot at Purbachal and Uttara Extended 3^rd Phase Project.

Dhaka improvement authority ‘Rajdhani Unnayan Kartipakkha (RAJUK)’ has extended time upto 15 January, 2009 to apply for allotment of plot of land at Uttara Extended 3^rd Phase and Purbachal New Town Project at Dhaka due to huge rush of applicants.

RAJUK officials said the last date for procuring forms is now 14 January and that for submitting those is 15 January 2009, instead of 17 and 18 December, 2008 as per the previous call.

At a press conference the Secretary, Ministry of Housing and Public Works, Government of Bangladesh has told that 1 lac 20 thousand flats/ apartments will be built at the 3 RAJUK projects Uttara Extended 3^rd Phase, Purbachal and Jhilmil and shall be allotted among the interested persons in similar way.

For latest Bangladesh Real Estate info visit: myRealEstateBD.com

RAJUK has invited application for Allotment of Plot at Uttara & Purbachal

Dhaka development authority "Rajdhani Unnayan Kartipakkha (RAJUK)" has invited application for allotment of plot at Extended Uttara 3rd Phase and Purbachal New Town Project. Available Plot sizes at Uttara are 3 & 5-Katha and Purbachal are 3, 5, 7.5 & 10-Katha.

View and Advertise Bangladesh Real Estate Apartment, Plot, Flat, Land, Commercial Floor or Shop Buy, Sale, Rent or Share advertisements at http://www.myRealEstateBD.com FREE.

Last date of application for both the projects is December 18, 2008. NRB's will also be able to apply for the plots through internet. The address of RAJUK web site is given below for your convenience.

Following is the original advertisement published by the authority:

For more information you may visit the RAJUK's web site: http://www.rajukdhaka.gov.bd/

For latest updates about Bangladesh Real Estate sector visite http://www.myrealestatebd.com/

REHAB fair Dhaka 2008 begins

Real Estate and Housing Association of Bangladesh (REHAB) has organized a fair The REHAB Fair, Dhaka 2008 started on November 11, 2008 and it will continue up to November 15, 2008 and it is open for all.

For updates about real estate market of Bangladesh visit: http://www.myrealestatebd.com/

The REHAB Fair, Dhaka 2008 at 'Bangladesh China Friendship Convention Center' has been inaugurated by the public works adviser of Bangladesh Government Major General (Rtd.) Ghulam Quader on November 11, 2008. This years rehab fair slogan is "Select the environmental friendly dream home for you."

The REHAB Fair, Dhaka 2008 has been organized by Real Estate and Housing Association of Bangladesh (REHAB). The five day long fair will be closed on Saturday, November 15, 2008 and it is open from 10am to 8pm. The entry fee is Tk.50/- per head single entry and Tk.100/- per head multiple entry for all the 5 days. The rehab informed that the entry fee will be donated to various social welfare organizations on behalf of REHAB.

REHAB organizes its most colorful annual event, REHAB Fair each year in Bangladesh for the member developers, financial institutions and building material providers to foster the growth of Real Estate Sector at local market and creates opportunity for the buyers to choose their desired apartment, plot and commercial spaces reviewing several projects at a single place.

A total of 187 REHAB member realtors and 5 financial organizations at participating in the fair.


View and post free buy/ sale/ rent advertisements of Bangladesh Real Estate apartment/ flat, plot/ land, house/ building, shop/ commercial space and mess/ share accommodation at www.myRealEstateBD.com

REHAB Housing Fair, USA 2008

REHAB Housing Fair-2008 in the USA.



Real Estate and Housing Association of Bangladesh (REHAB) has organized it’s next fair in New York, USA from 18th to 20th October, 2008 at Hotel Hilton. And from 23rd October, 2008 at Florida, USA.

It is a great opportunity for the Bangladeshi Citizens living in the USA to purchase Bangladeshi Real Estate Property from the top listed REHAB Member Realtors directly.

It is expected that 60 most reputed Real Estate & Housing Companies of Bangladesh is going to participate in this REHAB Fair.

For more Bangladesh Real Estate and Housing info pls. visit: www.myRealEstateBd.com

Proposed Bangladesh 'Real Estate Management Ordinance 2008'

The Bangladesh Government and the Real Estate developers are apparently at loggerhead over the enactment of a draft ordinance named as 'Real Estate Management Ordinance 2008,' which is intended to regulate the country's booming real estate sector. The law ministry has been asked to place the draft before the council shortly for its final nod. The draft regulation stipulates jail terms and financial penalties for delinquent developers.

For Bangladesh Real Estate Update please Visit: myRealEstateBd.com

The government officials sat with the leaders of the Real Estate and Housing Association of Bangladesh (REHAB) quite a number of times to make the new laws and regulations acceptable to both the parties. The REHAB submitted a set of recommendations to the government for incorporating those in the ordinance. But after the passage of the draft ordinance, it was seen that those were left unnoticed. The REHAB quickly came up with a notice that if the ordinance is implemented, it will destroy the real estate sector, which accounts for around 11 per cent GDP.

Visit: myRealEstateBd.com to view Bangladesh Real Estate Apartment/Plot/Floor Space Buy/Sale/Rent leads.

Allegations of fraud and deception in handing over plots or flats, and illegal encroachment of private and public land are rife against a section of real estate companies. Many innocent people are often lured by false assurances of hole-in-the-wall housing companies due to lax monitoring of the sector, prompting the government to initiate the move to bring the fast-growing sector under a stringent law.

To stay updated about Bangladesh Real Estate Property Market click: myRealEstateBd.com


It suggested that real estate companies must obtain registration from the authorities concerned and get project designs approved under the Private Housing Project Land Development Rules-2004. An occupancy certificate is a must for handover of any plot or flat. The companies must clearly state in their prospectuses the consequences of failure to pay the installments by the buyers, and they must not sell out the flats of defaulters to third parties within 90 days of notification. The draft law stipulates that real estate companies will have to return the entire money along with interest to the buyers in three months' time in case of missing handover deadlines.

The developers have to take initiatives for ensuring utility services in the project areas. If any company is found that it starts the project work without permission, the company will be fined up to Tk 1.0 million and its executives may be punished with three years of imprisonment. It also imposes bar against mortgage of any plot or flat before it is handed over to its owner. Developers will be fined for failing to inform its clients before-hand about the mortgage of any complete or under-construction land, apartment or space. Besides, there will be penalties for not using agreed materials in construction and suspending a project without consulting clients.

The people, mainly the clients of new flats and plots are largely satisfied with the provisions of the new law. They said it might be able to reduce their sufferings to some extent. But it is apprehended that the government might not be able to implement it since the developers are very influential and can dictate terms.

As per ordinance, developers cannot file any case against those government officials who are responsible for supervising the activities of their activities. Yet any official from the developer's side can be fined or jailed for violating any clause of the ordinance. This is highly immoral and contrary to ethical norms, said the REHAB. No good and meritorious person will like to remain in the real estate sector, it added. The REHAB has over 350 members as of now. Besides them, a number of companies are now operating in small scale. The service sector witnessed a rapid growth in the last two decades, employing tens of thousands of workers in construction work and contributing to the expansion of related sectors like cement and steel.

The recent moderate earthquakes that hit Dhaka and adjoining area caused development experts in Bangladesh to contemplate the possible scenario of deaths and destruction in case an earthquake of severe intensity. Thousands of high-rise apartments were constructed almost overnight on hurriedly filled-up ditches and using low quality cements and iron rods in violation of a six-storied limit, imposed by the national building code. The other grim side of the story is that most of the land-owners or real estate developers, to avoid cost escalation, have relied heavily on ordinary masons instead of qualified structural engineers for technical advice while constructing the buildings.

Some unscrupulous real estate developers - certainly not all - usually indulge in all kinds of shoddiness to maximize their profits. A government agency like RAJUK is responsible to oversee the conduct of all real estate developers in the capital city to ensure that they follow the rules and codes and do not cheat the unsuspecting flat owners who would eventually buy them. However, before the draft ordinance goes to the council of advisers for its final approval, there should be a consensus settlement between the government and the leaders of the REHAB on the issues they have differences. Otherwise, the whole real estate sector is poised to witness chaos and confusion leading to its destruction.

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