In an interview with Dhaka Tribune, Tanvir Ahmed, the managing director of Sheltech pvt ltd, gave us valuable insights into the paramount significance of on-time project completions for real estate firms, particularly exemplified by Sheltech. Beyond financial implications, the timely delivery of projects assumes a pivotal role in upholding the company's brand image and reputation.
Given the capital-intensive nature of the real estate projects, what financing strategies do you employ to ensure the timely completion of your developments?
Our dedication to our clients drives us to place utmost importance on the timely completion of our projects.
This commitment resonates across all stakeholders involved, encompassing the developer, landowner, and unit buyers, all of whom hold the project delivery timeline in high regard.
The significance of adhering to these timelines cannot be overstated, as any failure to do so can result in not only financial ramifications for the developer but also potential harm to the company’s reputation among buyers and within the broader industry.
At Sheltech, we have consistently chosen to prioritize our reputation over immediate profits.
To reinforce our dedication to excellence, we place considerable emphasis on the implementation of a comprehensive quality management system.
This system serves as a testament to our ability to consistently provide products and services that not only meet all legal requirements but also align seamlessly with the expectations of our clients.
By maintaining the highest standards of quality management, we are able to assure our clients that our offerings are not only compliant but also designed to cater to their unique needs and preferences.
Sheltech has achieved a remarkable milestone in the realm of real estate. We proudly stand as the first company to have attained ISO 9001:2015 certification for our exceptional quality management systems.
This recognition not only underscores our professionalism and commitment to excellence but also highlights our innovative approaches to design and construction.
In essence, our unwavering commitment to our clients' needs, our relentless pursuit of timely project completion, and our dedication to maintaining the highest quality standards have positioned Sheltech as a pioneering force in the industry, setting new benchmarks for professionalism and innovation in the realm of real estate development in the country.
What are the current trends in the Bangladeshi real estate market? How have they evolved over the past few years?
The real estate market in Bangladesh has seen significant growth in recent years. In FY23, real estate contributed the second-most (7.93%) to GDP. Rapid urbanization, rising per capita income, increased housing demand, and population growth drive the real estate market.
These factors have also increased demand for commercial and residential real estate, resulting in unplanned and haphazard urbanization in earlier years.
The global Covid-19 pandemic has changed Bangladesh's real estate market. People want well-planned, comfortable homes to improve their quality of life and health. Urban condominium projects are popular because of that.
To encourage healthy and fulfilling living, these projects offer gymnasiums, swimming pools, community spaces, kids' play areas, daily stores, and more.
When people live in close proximity to one another, it creates a sense of community and encourages interaction.
Private real estate companies are having a difficult time selling homes due to recent economic inflation, high land prices, and high building construction material prices.
Affordable housing is a significant concern. What initiatives is your company taking to provide affordable housing options for different income segments?
We want to provide affordable accommodation to our clients. Due to costly building construction materials, urban land costs, bank interest rates, registrations, permissions, land ownership concerns etc, it is difficult for us to supply affordable housing.
Private real estate companies struggle to provide affordable housing due to input expenses. I think the government can assist us in establishing affordable housing for all.
If the government works with a public-private partnership to supply land to developers and enhance communication around the town's periphery, apartment costs will drop automatically.
How do you see the intersection of sustainability and affordability in your real estate developments?
The consciousness surrounding environmental issues and their detrimental impacts on urban dwellers is undergoing a notable uptick.
This heightened environmental awareness is gaining momentum within society, thereby generating a significant call for real estate development practices that prioritize sustainability. Concurrently, there exists a prevailing desire to establish housing solutions that remain affordable and accessible to a broader demographic.
In the pursuit of these objectives, contemporary technologies aimed at curbing the consumption of raw materials and energy have the potential to revolutionize the construction landscape.
By integrating these innovative approaches, not only can the efficiency of the construction process be magnified, but the overall profitability can also experience a positive surge.
This amalgamation of factors serves to ensure that the trajectory of sustainable real estate development remains both ecologically responsible and economically feasible.
A multifaceted arsenal of strategies can be wielded to achieve this harmonious synergy between sustainability and affordability. For instance, a strategic reduction in energy consumption can be attained through the employment of eco-conscious architectural designs and the incorporation of energy-efficient appliances.
Embracing the utilization of eco-friendly construction materials further augments the effort, diminishing the carbon footprint associated with the building process. The incorporation of natural lighting not only contributes to the aesthetics of the structures but also curtails energy demands.
How do you approach securing funding for large-scale projects, especially in times of economic volatility?
We embark on significant large-scale endeavours that we find appealing to undertake.
The availability of instalment payment plans greatly appeals to most of our clients when projects are in their initial stages.
By selling residential units right at the beginning of a project, we are able to generate funds to cover operational expenses.
Our dedication to ensuring timely project completion fosters a sense of trust among clients, consequently motivating them to make investments in our projects.
How is your company leveraging technological advancements, such as PropTech and construction automation, to enhance the efficiency and quality of your projects?
PropTech is the use of technology to enhance the process of buying, selling, renting, designing, constructing and managing residential and commercial property.
Sheltech (Pvt.) utilizes a MIS system for effective project management, improved customer experiences, inventory and supply chain optimization, financial transparency, and cost control.
Also, Sheltech Homes is an online property solution for the secondary market.
We have an Online Customer Management system for complaints, services, modifications, emergencies and utility support.
Virtual and augmented reality allow customers to virtually explore properties without physically visiting.
Sheltech Ceramics effectively utilizes it on their website. Construction automation refers to automated procedures, techniques and equipment used to build buildings and infrastructure.
We use automation to reduce operating costs, waste, material utilization, dust pollution, time and material placement.
With growing concerns about environmental impact, how does your company incorporate sustainability practices into your real estate project?
The goal of Part III, Chapter 4, of the Bangladesh National Building Code 2020 is to improve building design and construction through the use of building concepts with a positive environmental impact, sustainable construction practices, energy, water, and building material efficiency, and resource efficiency.
Sheltech has designed and built over 160 real estate developments using Rajuk's Bangladesh National Building Code (BNBC). Sheltech projects constantly retain mandatory open space, site drainage areas etc, for real estate sustainability.
Sheltech Bithika, Dhaka's first condominium complex in Mirpur, has a rainwater collection system for car washing and gardening.
Several ongoing Sheltech projects have well-designed roof configurations to enable rooftop gardening to improve urban greeneries.
