Housing fair clocks up Tk 300 cr in spot orders

A four-day real estate fair wrapped up in Chittagong on Friday by
recording Tk 300 crore in spot bookings. The figure is four times
higher than the previous year. Forty real estate firms and 60
construction materials companies from Dhaka and Chittagong took part
in the seventh BD-RED Abasan Mela 2009. Bangladesh Real Estate
Directory (BD-RED) had organised the fair at the Institution of
Engineers, Bangladesh (IEB) Chittagong centre. BD-RED Chief Executive
Md Yeasen Khan said the turnout was "quite satisfactory" as the fair
pulled in more than 30 ,000 visitors. The participants have received
Tk 300 crore in spot orders this year, higher than the previous
year's Tk 75 crore, said Khan. "We expect to get further bookings for
plots and flats of Tk 100 crore later as many failed to place
orders due to a time constraint." The participants expressed
satisfactions over spot sales but some buyers resented the
increasing prices of plots and flats. "We sold 50 plots and 15 flats,"
said Nazmul Hossain, Chittagong branch in-charge of Amin Mohammad
Lands Development Ltd. The company has 22 ,000 plots in 11 projects
in Dhaka and Sylhet, 60 flats in Chittagong and commercial spaces
for 300 businesses in Cox' s Bazar. Chittagong-based firm Apple Homes
Ltd received bookings for four flats in its two projects at
Halishahar and Muradpur. "Flats ranging from 1,050 square-ft to 2,350
square-ft were priced at Tk 3 ,500 to Tk 4 ,000 per sq-ft," said
Abul Kalam Azad, marketing and sales executive for Apple Homes.
Hirajheel Property Development (Pvt) Company Ltd joined the fair with
4 ,000 plots in its Basumati Abasik Prakalpa on 1 ,000 bighas in
Baridhara, Dhaka. Eastern Bank Limited offered Tk 3 lakh to Tk 75
lakh in home loans for intended customers with an interest of 13.5
percent.