REHAB fair sees huge crowd on weekend, demand for mid-size flats is high
Muhid Hasan :
A large number of visitors gathered at the housing fair of Real Estate and Housing Association of Bangladesh (REHAB) on Friday, the first day of weekly holidays, at Bangabandhu International Conference Centre (BICC).
The crowds flocked to the stalls especially in the afternoon and evening, and many of them are visiting with their friends and family members. Buyers have expressed their satisfaction as they have a collection of construction materials and home loans under one roof.
REHAB fair-2022, the country’s largest event in the housing sector, has provided a good opportunity for buyers as the apartments would be costlier next year due to soaring prices in the construction materials like rod and cement. So, the fair is gaining momentum this year, according to sector insiders.
Nafiza Yasmin, from Abdullahpur, said that because of last two working days she could not visit the fair and picked the holiday for visiting. She is searching for a mid size flat from 1000 to 1500 square feet, preferring the Uttara area and expecting to book a flat for her family.
A businessman from old Dhaka, Shafiqul Alam, said I am visiting the fairground to know about apartment prices. If he gets apartment at reasonable price with more facilities, he will book that soon. He is expecting to buy an apartment at Tk1crore to Tk 1.2 crore.
Shariful Islam Tareq, head of marketing of a housing estate company, said that companies are set to sell a good number of new apartments of this fair for middle and upper middle income groups. This year the demand for the apartments
price range between Tk 1 crore to 2.5 crore is high.
The prices of the apartments shot up by 10-12 per cent compared to previous year as raw materials prices increased by nearly 30 per cent, he added.
According to a director of a housing company, Saad Al Zabir Abdullah, they are promoting 10 commercial projects in the fair and offering 10-15 per cent discount on booking at this fair. Besides, offering opportunity to stay three nights and two days at Hotel Palace Paradise in Cox’s Bazar, with Dhaka-Cox’s Bazar return air tickets.
It is alleged from prospective customers that some companies are charging of exorbitant prices for flats and high registration fees by the authorities. No law in favour of the customers, but in favour of the developers, they expressed.
Vice President of REHAB Kamal Mahmud said that the prices of apartments may go up by 30-40 per cent next year due to new Detailed Area Plan (DAP) and hike in prices of construction materials as well as rising labour wages. So, this fair offers great chance for buyers.
A total of 180 stalls have been set up in this fair. Of them, three are diamond pavilions, seven gold sponsors, 22 co-sponsors, 16 building material companies, and 13 financial institutions, he added.
Since 2001, the REHAB fair started in Dhaka and continue its efforts to create and expand the market of housing industry at home and abroad.
More than 19,000 people visited 200 different stalls in the last REHAB Fair in 2021 while flats worth Tk 198 crore, plots worth Tk 125 crore, and commercial space worth Tk 78.38 crore were sold.
