The development of infrastructure resulted in a sudden increase in real estate in Matikata that continues till date
For scant of a moment, it might seem that you had stepped outside the bounds of Dhaka city and entered into a whole new place — that is, until you realize that you are just in-between two of the most important places in the city, Mirpur and Uttara. That place of disbelief, where the city seems to give away to openness and clear skies is none other than the up and coming Matikata area.
While the place is often overlooked by the residents of the city — far away from most of the hustle and bustle of the city — it has been quietly and steadily progressing along the development scale for years. Numerous real estate projects are being built all throughout the area today. So, instead of the familiar scenario of roads and infrastructure following suit after urbanization, it is homes and properties being built after the construction of the road. To be a bit more dramatic, “it is the road that maketh civilization in the Matikata area.”
To be fair, the area still has a long way to go to truly become a major residential or commercial zone in Dhaka but the potential is there. The rapid development of the area has filled developers, buyers and its current citizens with much optimism and hope. And almost the entirety of this development can be somewhat attributed to the Matikata road itself and the presence of the overpass/flyover that connects Mirpur to the Airport Road, Uttara and Banani, officially dubbed as the Mirpur-Airport Road flyover.
When the construction of the flyover and the overhaul of the Matikata road began, the surrounding area had very little going for it except parts of it being next to the Cantonment area. The condition of the road was less than ideal, and much of the movement along the road was restricted due to being inside the Cantonment area. As a result, the area remained underdeveloped with little to no progression for many years. But all that changed when the government decided to utilize the opportunity and improve Mirpur and Uttara’s connectivity with each other.
To that end, the development of Matikata road and its subsequent flyover has certainly succeeded. The proverbial “backwater road”has greatly reduced the time it takes to travel from Mirpur to Uttara and vice versa — and since 2013, the time of its construction, it has become the primary road to travel for commuters of those areas. All the while, the development of infrastructure resulted in a sudden increase in real estate in Matikata that continues till date. Furthermore, surrounding areas such as Manikdi, Bauniabadh and Nampara are also reaping benefits from this.
For the most part, the area had been predominantly settled by lower-income people of our society and squatters were the most common form of housing throughout the area before the recent development. While some people invested in land on the northern side of Matikata road, it was few and far between. Most of the northern side is water bodies still being filled with sand to prepare for development. As a result, the properties being developed there will have a unique environment and view, all without having to go outside the city to build a home.
While the southern side of Matikata also has a number of water bodies, the section near the Cantonment area and its deeper parts are heavily populated. Small squatters are giving away to multi-storied and high-rise buildings in the area and more and more people from the middle class are moving into the area — both through purchase and through rent. In fact, in comparison to the beginning of the 2010. The number of “modern apartments” has significantly grown and outnumbers the northern side heavily. In that sense, the southern side can be referred to as the more developed of the two sides of Matikata road.
Just as residential real estate progress is following infrastructural development, commercial real estate progress is following the people to Matikata road. More affordability of real estate and great connectivity to two major portions of the city has drawn and still draws many businesses to the area. The number of offices and organizations making a home in the area is increasing with each passing year and with further property development. Establishments like Kazi Asparagus Food Island brought significant attention to the area and many people regularly travel there to enjoy some good food while soaking in the unique atmosphere.
Overall, the future of real estate in and around Matikata road seems to be quite bright and on the right track. The ongoing construction of several real estate projects and commercial activity is a good sign of what to expect in the very near future. And the catalyst for all of this progression, at least to a great extent, can be attributed to the infrastructural development of Matikata road. As a result, the residents of the area, and those who are newly investing and moving there, are witnessing how an area in a city blooms and flourishes.