A five-day housing began yesterday at Dhaka Sheraton hotel with developers planning to sell apartments and plots worth Tk 500 crore.
Over 90 developers are showcasing their projects in the mega housing show, inaugurated by Dhaka City Mayor Sadeque Hossain Khoka.
Developers apart four financial institution such as Delta Brac Housing Finance Corporation Ltd (DBH), Industrial Development Leasing Company of Bangladesh Ltd (IDLC), National Housing Finance and Investment Ltd and Standard Chartered Bank are participating in the fair, organised by Real Estate and Housing Association of Bangladesh (Rehab).
Addressing the inaugural function, the city mayor said the government alone cannot solve the housing problem. He urged the private sector to offer quality services to clients.
He also asked the developers to offer housing projects not only in Dhaka but also in other places.
"Sometimes, I receive allegations against some developers, as they do not hand over their apartments or plots to customers in time. This kind of practice may hamper the growth of real estate business," the mayor added.
Rehab President Toufiq M Seraj said real estate is now an emerging sector. A total of 200 developers under Rahab are offering their services, he added.
With the growth of the real estate a huge number of backward linkage industries such as cement and tiles industries have grown over the last few years, the Rehab chief said.
He also said developers hope to sell apartments and plots worth over Tk 500 crore in the fair.
He said 'Rehab Fair 2005' is a great opportunity for customers because they will know about hundreds of projects from one place. Customers will get special discounts in the fair, he added.
The show will remain open to all with Tk 50 entry ticket for a person. The ticket proceeds will be donated to charity. A raffle draw of entry tickets will also be held and 75 prizes including a car are on offer.
On the sidelines of the fair, Rehab will organise three seminars in association with Euro Builders Project, a joint initiative of Rehab and European Commission. Specialists from home and abroad will attend the seminars.
Amin Mohammad Group, Concord Real Estate and Building Ltd, East West Property Development Private Ltd, Navana Real Estate Ltd, Rangs Properties, Sagusta Housing Ltd, and Suvastu Development Ltd are the co-sponsors of the fair.
Among others, State Minister for Housing and Public Works Alamgir Kabir, SA Khaleque MP, and Housing and Public Works Secretary Iqbaluddin Choudhury were present.
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