10 newly elected MPs put real estate sector in spotlight
Muhammad Ayub Ali :
Ten MPs elected in the 13th National Parliamentary Election have direct ties to Bangladesh’s real estate and housing industry, reflecting the growing convergence of political power and a key economic sector.
All of these lawmakers were nominated by the Bangladesh Nationalist Party (BNP), which is set to form the next government.
The matter drew public attention after the Real Estate and Housing Association of Bangladesh (REHAB) issued a statement on Monday congratulating the newly elected MPs associated with the housing and real estate business.
Although REHAB did not disclose the names of the lawmakers, it expressed strong expectations that MPs with first-hand industry experience would be better equipped to initiate reforms and remove policy obstacles that have hindered the sector for years.
According to information obtained from sector insiders, the newly elected MPs involved in the real estate business include Mostafizur Rahman Bhuiyan from Narayanganj-1, Muhammad Fakhrul Islam from Noakhali-5, Kazi Rafiqul Islam from Bogura-1, Barrister AM Mahbub Uddin Khokon from Noakhali-1, and Manjur Elahi from Narsingdi-3. Others are Advocate Mazibor Rahman Sarwar from Barishal-5, Sheikh Rabiul Islam from Dhaka-10, Khandaker Mosharraf Hossain from Cumilla-1, and Rafiqul Islam Hilaly from Netrokona-3.
In its statement, REHAB said it expects these MPs to play a proactive role in addressing chronic policy bottlenecks.
Among the priorities identified by the association are rationalising the tax regime for housing and construction, simplifying approval and registration procedures, ensuring timely utility connections, improving urban planning governance, and fully implementing the Detailed Area Plan (DAP).
REHAB also stressed the importance of coordinated policymaking to restore investor confidence at a time when the sector is under strain.
Once considered one of Bangladesh’s most promising and profitable an industry, the real estate sector is currently navigating a challenging phase.
Developers face soaring construction material costs, partly due to global market volatility and exchange rate pressures.
Complicated and sometimes inconsistent tax policies, along with foreign currency shortages affecting imports of raw materials, have further increased costs.
Political transitions and regulatory uncertainty have also slowed project execution and dampened buyer sentiment.
Despite these difficulties, industry stakeholders remain cautiously optimistic about the long-term outlook.
Rapid urbanisation, steady income growth, and the expansion of the middle class have sustained demand for housing over the past decade.
Bangladesh is an emerging economy that will soon step into the trillion-dollar segment with real estate set to play an integral role in this transformation, according to industry people.
In this context, the presence of lawmakers with direct industry experience is widely seen as an opportunity to bridge gaps between policy and practice-provided transparency, accountability, and the broader public interest guide future reforms.