The Current Real Estate Sector

An interview of prominent real estate figure, Sadat Hossain Salim, advisor to real estate company of Rupayan Group was published on Next Step. Here is a synopsis of the face-off between Mr. Sadat and Next Step.
When asked to comment on the current state of real estate market, Mr. Sadat felt hopeful for the sector despite a recent stagnant. He commented that Dhaka city is expanding as a result of people migrating into the city in search of a better lifestyle and the developers have a critical role to play in the transition of the city.

In terms of providing career opportunity and contribute to country’s economy, Mr. Sadat elaborated on the development of new industries ceramics, bricks and so on, providing ample job opportunity to technicians and construction workers. Apart from this, with the stiff competition of the sector, the real estate now provides a sound platform for engineers, architects, designers etc. He also foretold that with the continued growth of the sector, more career opportunities would be provided to graduates when the country has its own companies making pipes, fittings etc.

He opined that to be able to provide housing to mass people at affordable price, Government needs to come forward and a joint effort is required to cater to the housing demand. He recommended that to prevent apartment price hike Government could buy cheap lands and bid them among private developers to make housing more affordable. He further stated that lack of government involvement is one of the main challenges of the real estate sector in the country.

When asked about the keys to being a successful business person in real estate sector, Mr. Sadat stated that one must work hard as this sector is involved in fulfilling people’s aspirations and hopes, for that it is important to be committed and loyal to the customers.

Coming to the point of environmental consideration when building projects, Mr. Sadat criticized land grabbers and ill planning of housing projects in Dhaka. He lauded the government for creating “fixed economic zones” which will provide housing and career opportunity outside of Dhaka. He stretched on government need to adopt a national policy that would encourage people to settle outside Dhaka which would promote development as well as save environment.

As someone holding a strong position at Rupayan, he visualized the company to be a starter in building communities outside Dhaka to make the city a better living place. He also urged other stakeholders to come forward for the cause.

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