Real Estate Housing Association of Bangladesh (REHAB) is going to organize a five-day winter fair beginning at the Bangabandhu International Conference Center (BICC) in Dhaka on Tuesday.
REHAB President Alamgir Shamsul Alamin (Kajal), speaking at a press conference at Sundarban Hotel on Sunday, said the fair aimed to increase interactions between buyers and realtors.
Housing and Public Works Minister SM Rezaul Karim was scheduled to inaugurate the fair as chief guest, he added.
A total of 230 stalls will be set up at the fair, where real estate companies, land developers, banks, financial institutions and building material companies will come up with offers on their products, including flats, plots, housing loans and construction materials.
Additionally, 14 money-lending organizations will also take part in the fair.
Alamgir added: "This fair will play a significant role in building a bridge between buyers and REHAB members. It will also help buyers to find flats or plots as per their affordability and choice."
"The population of Dhaka is growing each day," the REHAB president also said, adding, "With the economic progress, people are interested in having a flat in a good location. Our goal is to build a well-planned city."
He also pointed out challenges faced by realtors such as high registration fees, lack of facility for long-term loan for all citizens, high bank loan interests and others.
"Although the prime minister and the finance minister declared reducing costs in the housing sector, there has been no official notification yet," he lamented.
"But," he added, "the sector is slowly emerging from this crisis as government employees can now apply for home loans from state-owned banks at 5% interest."
The housing sector would contribute more to the economy if the registration costs were reduced from existing 14-17% to 6-7%, he mentioned.
When asked about unauthorized companies participating in REHAB fairs previously, he said extensive monitoring was done to ensure no such firms participate in their fairs from now on.
The fair will conclude on December 28.