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REHAB Fair fetches sales, bookings of flats, plots worth Tk 351cr

The five-day REHAB Fair 2022 has fetched spot sales and bookings of residential flats and plots worth around Tk 351 crore.

Organised by the Real Estate and Housing Association of Bangladesh (REHAB), the fair concluded on Sunday.

Of the total amount of Tk 351 crore, Tk 168 crore came from sales and bookings of flats, Tk 80 crore from plots, and Tk 53.73 crore from commercial spaces, REHAB leaders said at a press briefing held at the fair venue.

Bank commitments worth Tk 1,000 crore were also registered, and 16,132 visitors attended the fair held at the Bangabandhu International Conference Center (BICC) at Agargaon in the capital, a REHAB press release said.

Compared to the previous year’s fair, sales, bookings, as well as visitor attendance have shrunk this year. The REHAB fair in 2021 had recorded a total of Tk 397.38 crore from sales and bookings, and 19,238 people visited the fair.

Because of the important state events, the fair ended at 2:00pm, instead of 9:00pm. But even though it ended before the scheduled time, the fair’s purpose has been fulfilled, the release said.

The massive response from Dhaka residents during the fair held from December 21 – December 25 is a sign of hope for the housing sector. Most companies come to the fair for branding rather than sales, and they have succeeded in that purpose.

Many companies offered discounts at the fair, which the customers can avail for a few days even after the fair ends.

Several participating companies showcased their products through digital media at the fair. Expats from abroad also inquired about such products. This year, many buyers are looking for flats in Mirpur and Uttara because of their proximity to the metro rail.

This year, flat prices are relatively higher than before. The prices have gone up due to various reasons, including an increase in the price of various construction materials, and a decrease in the Floor Area Ratio (FAR) of the Detailed Area Plan (DAP).

At the press conference, REHAB leaders sought policy support for the housing sector from the government, expecting that FAR in the DAP would be increased.

REHAB Vice President Kamal Mahmud, Vice President and Fair Committee Chairman Engineer Mohammad Sohel Rana, Vice President Lion Sharif Ali Khan, and Rehab Press Media Committee Co-Chairman were present on the occasion.

Besides, Director Sultan Mahmud, Director Kamrul Islam, Rotarian SM Emdad Hossain, Dr AFM Kamal Uddin, along with others from the REHAB Board of Directors were present.