Rehab Fair: New developers offer deep discounts

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The five-day REHAB Fair-2019 began last Tuesday at the Bangabandhu International Conference Centre in the capital

New real estate and housing companies are offering attractive discount packages to woo buyers at the REHAB Fair.

The five-day REHAB Fair-2019 began last Tuesday at the Bangabandhu International Conference Centre in the capital. The Real Estate and Housing Association of Bangladesh (REHAB) is the organizer of the winter edition of the annual event. 

GLG Assets Ltd, a real estate and housing company, is one of the participants at the fair. The company entered the real estate business four years ago. It has flats ranging from 1,157 to 2,168 square feet in different areas of the city including Uttara and Mirpur. 

“We are offering discounts of Tk200 on per square foot of flats at different locations,” said Md Towhidul Islam, the assistant manager (marketing and sales) of GLG Assets Ltd.

Officials at Laxmi Builders Ltd, another real estate and housing company, were seen describing major features of their flats and plots to the visitors at the fair. The company’s Senior Executive (Marketing and sales) Md Amir Hossain said that the company was offering project-specific discount packages. 

“We have 1,050 to 2,290 square feet commercial and residential apartments of various types within the price range of Tk7,500 to Tk9,000 per square foot,” he said. 

BProperty.com, an online real estate marketplace, was offering ‘one stop property solutions’ at the fair on Thursday. Under the offer, visitors at the fair will be able to get information on buying, selling, or renting out real estate properties for commercial or residential use at the BProperty.com stall.

Sohel Rana, a Bangladeshi expatriate in Canada and a resident of Savar, said, “ The fair seems to be a great platform for finding a suitable flat. However, I haven’t signed the deed agreement with any realtor yet to buy a flat. I want to be one hundred percent sure that the flat I am intending to buy has all the required legal documents.”

Golam Kader, a retired government official, said he was looking for a ready flat in Mohakhali area in the city; but haven’t been able to find what he was looking for. 

He said, “Few real estate companies at the fair wanted me to invest in their projects; but I need a ready flat now.”

Md. Amzad Hossain, Assistant Manager (marketing and sales) at the Hamid Real Estate Construction Ltd said sometimes clients suffered from delayed handover of flats, as the government agencies took a lot of time for utility connections.

Md.Arif Hossain, senior executive (sales and marketing) at the Concord Real Estate and Development Ltd said the demand for small and medium sized flats at the fair was high.

Visitors at the fair were looking for flats of the sizes ranging from 1,400 to 1,600 square feet and within the price range of Tk80 lakh to Tk1.20 crore, Arif Hossain informed. 

According to the organizers, a total of 230 stalls including real estate companies, land developers, banks, financial institutions and building material manufacturing companies are participating in the fair with various lucrative offers.

At the housing and real estate fair, 14 non-bank financial institutions and banks are also participating 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 can be borrowed.