Realtors clock Tk 351cr sales at REHAB fair

Flats, plots, commercial spaces and construction materials worth Tk 351.16 crore were sold and booked at the REHAB Fair 2022, which concluded yesterday.

Of the sum, Tk 168 crore came from the sales and booking of flats, Tk 80 crore for plots, and Tk 53.73 crore for commercial spaces, said the Real Estate and Housing Association of Bangladesh (REHAB) at a press conference.

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In 2021, flats, plots and commercial spaces involving Tk 397 crore were sold and booked at the exposition.

"Most of the companies took part in the fair for promotional purposes. Sales were not their primary focus. They have reached their goal," said Sohel Rana, vice-president of the REHAB, at the media briefing.

This year, 16,132 people visited the fair venue on the premises of the Bangabandhu International Conference Centre in the capital.

Participating banks and non-bank financial institutions committed to lending about Tk 1,000 crore to clients during the five-day exposition.

Many companies unveiled various offers, including discounts. Even if the fair is over, those offers might be available for a few more days, Rana said.

REHAB First Vice-president Kamal Mahmud said flat prices were relatively higher this year than previously.

"The price of flats has increased due to various factors such as the increase in the price of construction materials."

At the press conference, the trade body sought policy support from the government for the housing sector and reiterated its demand for a revision to the FAR (floor-area ratio) under the new Detailed Area Plan.

The FAR is the ratio of a building's total floor area to the size of the piece of land upon which it is built.

The demand for flats in the areas of Uttara and Mirpur has gone up thanks to the construction of the Dhaka Metro Rail, according to the REHAB.

The Agargaon-to-Uttara portion of the Mass Rapid Transit Line-6 is set to open on December 28.

The REHAB has been hosting the fair since 2001. So far, its member companies have handed over more than 2.25 lakh flats, which were either sold or booked at the expositions.

The culture of buying flats was introduced in Dhaka city in the 1980s. Since then, realtors have been meeting a large part of the housing demand in the sprawling capital.