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Rehab fair aims at boosting real estate industry

Rehab fair aims at boosting real estate industry

The winter edition of the housing fair of the Real Estate and Housing Association of Bangladesh (Rehab) is going to kick off in the city on Wednesday, eying at giving a boost to the country’s shaky real estate business.
The five-day event styled ‘Rehab Fair 2015’ will be held at the city’s Bangabandhu International Conference Centre (BICC), the Rehab leader told a press conference on Saturday.
There will be more than 150 stalls of local realtors, including 25 for building materials, at the fair that will remain open for visitors from 10am to 9pm everyday until December 27.
With the fair, the Rehab is expecting to see a turn around in local housing business at the year end as Rehab members will be participating in the event with lucrative offers to lure potential buyers.
“For the last 15 years Rehab has been successfully organising this fair and we hope that we’ll be able to present another successful fair this year as well,” Rehab leader told the press conference.
“The fair will play in important role in creating a bridge between our members and the buyers. The fair will also help buyers find out flats or plots suitable for them and within their budget,” they added.
Rehab is now running with 1,130 members. It started its journey two decades ago to build a planned Dhaka city and make available housing facilities to city dwellers.
Rehab leaders claimed that the local housing sector has been going through a bad time for the last few years because of some policy decisions and that the shaky condition of the sector has now exposed.
Among those, they said absence of single-digit long-term bank loans, the decision of stopping gas connections, giving power connections on condition of installing solar panels and lack of coordination among the utility service providers are the main reasons behind people losing their interests in investing the sector.
They said the country is losing huge amount of money as well as revenue every year because of capital flight, adding that the sector could rebound, if the government allows investing undisclosed money in the housing sector without raising any question.
There will be two types of entry tickets. The price of single-entry ticket will be Tk 50 and that of multi-entry will be Tk 100.
Senior vice-president of Rehab Robiul Haq, first vice-presidnet Liakat Ali Bhuiyan, among others, were present at the press conference.

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