Private sector strategies adopted in provision of affordable housing in Bangladesh. (Case study of Dhaka)
Private sector housing business has started in 1970 in Bangladesh and capital city Dhaka was the main focus for the private sector investors. During the last two decades it has grown and now demand is rapidly increasing. Bangladesh is one of the fastest urbanizing countries as migration to the cities is huge. In my research I looked at how middle class or low income based people respond to their housing needs and how private sector companies playing their role to meet the market demand.
This research has been conducted among some selected companies who mainly operate their activities in Dhaka. I have chosen Dhaka because it has a large population and housing problem is so acute in Dhaka. Besides these I lived in Dhaka for 10 years and I speak Bengali. So it was comfortable for me to carry out my research.
People have a keen interest in the housing market. They like companies that maintain quality, safety and customer preference. Previously real estate companies were busy developing plots or building houses, apartments only for the rich people and for their luxuries. Their activities were confined in the highly aristocrat areas. Tradition is changing now a day. Government is also changing their concern and efforts to promote housing for middle class people. As a result housing industry is expanding rapidly. The less developed parts of the city getting the touch of the private sector investors and becoming a modernized place with all the facilities. The main demand is for flats or apartments, as the middle class people cannot afford to buy a piece of land in the city.
Private sector investors in the housing industry have an association known as REHAB (Real Estate and Housing Association of Bangladesh). It has 558 registered members. I have selected five well reputed companies for my research.
Chapter out line:
- In chapter 1 I discussed about the companies I have selected
- In chapter 2 I have reviewed the literature.
- In chapter 3 I mentioned about the aims and objective of my research.
- In chapter 4 I have discussed the methodology that has been used.
- In chapter 5 analyses and result
- In chapter 6 discussion on basis findings and review
- In chapter 7 recommendation
- In chapter 8 mentioned all sources and references.
1.2 Profile of the selected companies:
(A) NAVANA REAL ESTATE LTD.
Navana Real Estate Ltd (NREL), a sister concern of Navana Group started its operation in housing sector in 1996. Within a short period of time it has become one of the most reliable companies in real estate business.
- To be different
- To be dependable
- And to be definitive.
- Building apartments,
- Commercial space,
- And developing land.
Navana Real Estate Ltd has a unique blend of professionals of technical and management expertise which includes Engineers, Architects, MBAs, Accountants and Financial Analysts.
In last 12 years NREL has completed huge number of projects in Dhaka at Gulshan, Niketan, Banani, Dhanmondi, Mohammadpur, Kallyanpur, Shukrabad, Elephant Road, Segun Bagicha, Mogh bazar, Uttara.
Now NREL has 40 ongoing projects at Baridhara, Gulshan, Niketan, Banani, New DOHS, Dhaka Cantonment, Dhanmondi, Mohammadpur, Green Road, Mogh bazaar, Eskaton, Shahbag, Bailey Road, Segun Bagicha, Bijoy Nagar, Paltan, Kakrail, Bashabo, Kamlapur, Wari, Hath Khola, Mirpur, and Uttara.
Presently NREL has started its operation in Chittagong (the main port city of Bangladesh). In Chittagong it is developing projects at Khulshi, Nizam Road, Mehedibagh, MM Ali Road, East Madarbari, Halishar, and Abedin Colony.
Keeping in mind the future expansion of Dhaka City, NREL is also in land development projects. Already NREL has handed over land project at Kallayanpur, and two projects at Ashulia named Navana Village and Navana green Homes. At this moment NREL has projects at Siddirgonj, Narayangonj named Navana Bhuiyan City and at Surabari, Ashulia named Navana Valley.
(B) URBAN DESIGN & DEVELOPMENT LTD
Bangladesh has one of the largest populations in the world. It is known to the world for its natural disaster and poverty. But it has a glorious history. The official name of the country is "the people republic of Bangladesh. It is in the south Asia, has border with India on all sides, except for Myanmar to the far south east. It was part of the Bengal region of India. Bangladesh was ruled by Maurya , Mughal and was a part of India during British period (1858-1947).
In 1947 the Muslim section of Bengal become a part of the new nation of Pakistan and was named "East Pakistan. But it faced political and financial neglect and become independent following a liberation war in 1971.
The country is divided by six divisions- Dhaka, Chittagong, Rajshahi, Khulna, Sylhet, and Barisal. Dhaka is the capital city of Bangladesh. Considering the administrative units it has 64 districts, 6 City Corporation, 308 municipalities, and 599 police station.
Bangladesh has a parliamentary democracy. President is the chief of state, and prime minister is the head of the government.
Present population of Bangladesh is 162.2 million (16.22 crore). Growth rate of the country is 1.4 per cent. It has about 20 million households. A household has 5.6 persons on average. About 80 per cent people live in villages and they depend on agriculture for livelihood.
The principal industries are readymade garments, pharmaceuticals, cement, leather goods, textiles, tea processing, chemical fertilizers etc.