Rajdhani Unnayan Kartripakkha (Rajuk) is starting the construction of Jhilmil Residential Park, an award-winning largest residential project in the country, at full pace.
As part of the project's progress, AB Bank recently signed an agreement as the escrow agent of the project at Pan Pacific Dhaka, State Minister of Ministry of Housing & Public Works Sharif Ahmed graced the signing ceremony, reads a press release.
Also present were the Secretary of the Ministry of Housing & Public Works Md Shahid Ullah Khandaker, and High Commissioner of Malaysia to the People’s Republic of Bangladesh Haznah Md Hashim.
Rajuk Chairman Md Anisur Rahman Miah and Chairman of SVC Jhilmil Residential Bd Ltd (Project Company) Dr Sharifah Sabrina signed the escrow agreement together with President & Managing Director of AB Bank Tarique Afzal, appointing AB Bank as the escrow bank for the Project
According to the sources at Rajuk, around 14,000 residential apartments will be constructed in the Jhilmil Residential Area in Keraniganj. SVC Jhilmil Residential BD Limited, a project company of Malaysia-based BNG Global Holdings will be implementing the project via a Public-Private Partnership (PPP).
Upon completion of the project, it will be the largest residential township in Bangladesh.
According to the agreement, the project will be implemented on 160 acres of land with three types of apartments of sizes 2,200 sq ft, 1800 sq ft and 1,400 sq ft. comprising 20 and 25 storeys.
People involved with the project said that the private partner will bear all costs of the project. After that, Rajuk will pay back the cost in six instalments.
All of the buildings will be constructed following the industrial building system (IBS), a modern way of constructing buildings. The entire construction will be done using RCC casting.
Hence the buildings will be strong and earthquake resistant. 32% of the project area is allocated for the apartment buildings while 68% will remain open.
Lake, park, playing field, walkway, jogging track, artificial fountain, and roads will be built in the empty space. There will be school, college, hospital, mosque, market, and community space for people who will be living here. Water, electricity and gas connections will also be provided on the smart utility method.
The project area is located two kilometers west of the China-Bangladesh Friendship Bridge on the Buriganga river. The project is right beside the Dhaka-Mawa expressway.
Roads of 12.19 to 36.58 meters in width will be built for commuting inside the residential township with jogging tracks. The road of 60.40 meters in width will be in front of the main entrance, connecting the area with the Dhaka-Mawa expressway.
Due to the completion of Padma Bridge, the commute between this project area, Dhaka, and the southern districts has become much easier.
According to the people concerned, the demand for this project increased 10 times due to the Padma bridge.