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Ready apartments selling like hot cakes at REHAB fair

Ready apartment sales have soared at the ongoing REHAB Fair 2021, with banks and financial institutions offering long term loans on easier terms.

One-third of the buyers of ready flats are the government employees, who are getting loans at 5 percent interest rate. The government policy support of providing loans at reduced rates for officials, teachers has been a blessing for apartment sales, said a sector insider.

The Restate and Housing Association of Bangladesh (REHAB) is having it annual fair at Bangabandhu International Conference Center (BICC) in the capital. The fair began Thursday (Dec 23) and will end on Monday (Dec27).

The number of visitors was especially high over the weekend, leading to the real estate companies witnessing a bump in apartment, plot and commercial space bookings.

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

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

AKM Rafiul Islam, Senior Assistant General Manager of Sheltech, said, “We hope there will be a good response. We have already got some booking orders for commercial space.”

Another real estate company, Credence, is showcasing 170 flats for sale across 33 projects at the Housing Fair. The size of their flats in areas including Dhanmondi, Lalmatia, Uttara, Siddheswari, Ring Road, and Manipuri Para range between 1000 to 3000 sft. Prices start at Tk9,000 per sft.

Mirza Rommel Farooqi, manager of Credence, said customers visit the fair to know more and make plans for buying an apartment.

He said buying orders actually increase after the fair closes, as many customers contact with reference to the fair later.

Farooqi is optimistic about getting a great response to the fair.

Source: United News of Bangladesh