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Monday | November 09, 2026 | Dhaka

Halt unregulated share-based housing: REHAB

Association president cites alarming proliferation of schemes; warns of Tk 50,000 crore tied in future legal disputes if unchecked
 Business Report
 Published: 12:01 AM, 09 November 2026  Updated: 10:40 PM, 08 November 2026
The Real Estate and Housing Association of Bangladesh (REHAB) President Ali Afzal speaks at a press conference at the CIRDAP auditorium in the capital on Sunday. At the conference, REHAB placed a six-point demand to the government including regulate the unregulated share-based housing business.

The Real Estate and Housing Association of Bangladesh (REHAB) is demanding an end to an unregulated housing business model that sells land shares with promises of delivering specific flats.

REHAB President Ali Afzal announced the demand during a press conference held Sunday at the CIRDAP auditorium in Dhaka.

President Afzal stated that the business model, involving the sale of land shares tied to promises to construct and hand over a flat of a specified size, is spreading alarmingly.

In many instances, he explained, key details remain unclear, including land ownership, approved building designs, construction capacity, fund utilization, the exact location of the flat, and legal handover guarantees.

Consequently, buyers possess no assurance that they will receive a flat on time, obtain legal ownership, or recover their investment.

He added that 40,000 individuals have already suffered harm due to such schemes, with many fearing the loss of their entire investment.

Afzal warned that if this trend continues, approximately Tk 50,000 crore could become tied up in lawsuits and legal disputes concerning share-based projects over the next two to three years.

REHAB cited a recent investigative report revealing that as of September 30, 2026, approximately 9,823 fraud cases pertaining to land share-based housing projects were pending in court, involving roughly Tk 12,000 crore.

The association asserted that these figures expose the lack of buyer protection and effective oversight within the sector.

REHAB presented six specific demands: a ban on such activities, or strict regulation following a legal review; a prohibition on fundraising unless land ownership, registration, liabilities, and project approvals are confirmed; urgent independent technical and legal audits of existing projects; investigations into alleged multiple sales of the same land and forged deeds; transparent accounting of funds and construction costs; and the appointment of qualified architects, engineers, and other professionals for every project.

Afzal clarified that REHAB does not oppose legitimate joint ownership or transparent investment arrangements.

However, he emphasized that no business should operate in the name of land partnerships or joint ventures if it offers no guarantee of ownership and handover of a specific flat, or if it fails to pay government revenue properly.