Apartments ready to sell like hot cakes at REHAB

Sales of ready-made apartments skyrocketed during the ongoing REHAB 2021 fair, with banks and financial institutions offering long-term loans on easier terms.

A third of buyers of ready-made apartments are government employees, who get loans at an interest rate of 5%. The government’s political support of providing low-interest loans to civil servants and teachers has been a boon to apartment sales, an industry insider said.

The Restate and Housing Association of Bangladesh (REHAB) holds its annual fair at the Bangabandhu International Conference Center (BICC) in the capital. The fair started on Thursday (December 23) and will end on Monday (December 27).

The number of visitors was particularly high over the weekend, leading real estate companies to see an increase in bookings for apartments, land and commercial space.

Some 112 real estate companies, 14 banks and financial institutions and 18 construction companies are participating in the show this year.

Sheltech, a well-known real estate company, is showcasing hundreds of apartments from over 20 ongoing projects for sale at the fair. The projects are located in the capital’s Malibagh, Banani, Uttara, Mirpur, Badda, West Dhanmondi and Maghbazar, and range from 981 to 3,200 square feet (sft). The price per sft is between Tk7000 – 18000.

AKM Rafiul Islam, Senior Deputy General Manager of Sheltech, said: “We hope there will be a good response. We already have a few reservation orders for commercial spaces.

Another real estate company, Credence, is presenting 170 apartments for sale in 33 projects at the Salon du logement. Their apartments in areas such as Dhanmondi, Lalmatia, Uttara, Siddheswari, Ring Road and Manipuri Para vary in size from 1,000 to 3,000 square feet. Prices start at 9,000 Tk per foot.

Mirza Rommel Farooqi, director of Credence, said clients are visiting the salon to learn more and plan to buy an apartment.

He said purchase orders actually increase after the fair closes, as many customers contact the fair later.

Farooqi is optimistic about getting a big response at the fair.

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