Despite there is no concrete progress in getting foreign investments in the real estate and housing sector of Bangladesh, the government is continuing its efforts to attract the investors.
It has, however, received three proposals from Malaysia, India and Singapore. But, decided to go ahead with two proposals, except the Indian one as Sahara Group that proposed to invest here was found fraud.
Housing and Public Works Minister Mosharraf Hossain told the Dhaka Tribune on Wednesday that several proposals are coming from different countries. “But, we are not considering all the companies.”
“We are taking proposals from different companies or governments, which are being examined physically. Our technical committees are visiting the countries to examine the proposals. We will accept the ones that would be acceptable for us,” he said.
Regarding the proposal from Indian Sahara Group, the minister said, “We are not considering its proposal again as the company was found fraud. We are examining the proposals of Malaysia and Singapore. Our technical committee will visit Malaysia soon to examine its feasibility and financial ability of the company.”
Mosharraf said a Singaporean housing company recently expressed its interest to invest developing around 10,000 flats at Purbachal area under public private partnership (PPP) initiative. They will submit their concrete proposal soon.
“We will examine their financial proposal and visit the country to be confirmed about the financial condition. At the same time, we will consider the Public Procurement Regulation (PPR) of the country.We may accept the proposal, if it is found acceptable according to the PPR,” he added.
The company, which usually works with the government of the country, will build 10,000 apartments for Bangladesh out of 62,000 that the government planned to build at Purbachal area. They will produce construction materials for the project by setting up own factory in the project area.
“We will observe their efficiency and ability before giving permission. If we become satisfied with their performance, we will allow them to build more buildings in the area,” the minister said.
At the same time, the ministry will work with the Malaysian government for building 22,000 apartments at Uttara and Kamrangir Char and a 13km flyover in Dhaka city.
The minister said Malaysian government is expected to construct 22,000 apartments at Uttara and Kamrangir Char under Dhaka city and a 13km flyover between Shantinagar and Jheelmil project near Mawa road in Keraniganj.
The government has already signed a memorandum of understanding (MoU) with the Malaysian authorities. They will submit their full financial proposal within shortest possible time.
A technical committee of the housing and public administration ministry will visit Malaysia within a week.
The minister said the government is planning to build Kamrangir Char as a well-planned residential area by building several high-rise buildings removing the existing housing system. The illegal occupants will be removed from the area to beautify unplanned developing area, he added.
The Malaysian government will construct the apartments with modern technologies and designs and complete the works within 30 months of the work order.
