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Rehab fair bags Tk456 crore spot orders

  • Published at 10:22 pm December 29th, 2019
Rahab-fair_Syed-Zakir-Hossain
Photo shows participants at Rehab Winter Fair-2019 at Bangabandhu International Conference Centre in the capital Syed Zakir Hossain/Dhaka Tribune

The Real Estate and Housing Association of Bangladesh (Rehab) organized the fair at Bangabandhu International Conference Centre in the capital

The country's realtors bagged spot orders worth Tk456 crore for plots, flats and commercial spaces from the visitors at the five-day Rehab Winter Fair-2019 that ended in the capital yesterday. 

The Real Estate and Housing Association of Bangladesh (Rehab) organized the fair at Bangabandhu International Conference Centre in the capital, where real estate companies showcased features of flats/apartments of various sizes targeting different income groups. 

Banks and financial institutions also participated in the fair with the housing loan products for different income groups at reduced rate of interests. 

During the fair, the participants sold and received bookings for flat worth Tk276 crore and for plots worth Tk53 crore, according to a Rehab statement issued yesterday.  

The participants also sold and got booking of commercials spaces worth Tk127 crore.  

“The expo was aimed at bridging connection between aspirant buyers and property sellers and it was a successful one as there was huge response from the visitors,” said Rehab Vice-President Liakat Ali Bhuiyan.   

"We are hopeful that the sector will get investment from the buyers, who made pledges at the fair to buy flats or plots," said Liakat, hoping for a more vibrant sector in the next year.

Meanwhile, banks and non-bank financial institutions, who took part in the fair, committed to provide loans of about Tk1,700 crore to buy flats, plots and commercial spaces.  

A total of 230 stalls of real estate companies, land developers, banks, financial institutions, and building material manufacturing companies took part in the fair with various lucrative offers.

At the fair, 14 non-bank financial institutions and banks took part to provide loans to clients for buying flats, plots, and commercial spaces. 

The interest rate on such loans is set at 9.99% to 12%, depending on the profiles of customers, along with a loan processing fee of 0.50 to 1%. A maximum of 70% of the property or apartment value was lent.

No Rehab fair was held last year, while value of orders and sold property in 2017 was Tk638 crore.