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Role of Real Estate Sector in Economy of Bangladesh

Started by Monirul Islam, May 15, 2018, 03:36:37 PM

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Monirul Islam

The real estate and housing sector is one of the main drivers of any national economic development and industrialisation. In Bangladesh the real estate has emerged as a critical sector of our economy. It has a huge multiplier effect on the economic activities and therefore, is a big driver of economic growth. It is one of the largest employment-generating sectors after agriculture. This sector has been contributing about 12-15 per cent to Bangladesh's gross domestic product (GDP). Not only does it generate directly and indirectly 2.5 million employment opportunities, but it also arouses the demand for over 250 ancilliary industries e.g. steel, cement, tiles and sanitary ware, cable and electric ware, paint, glass and aluminum, brick, building materials, consumer durables and so on. In addition, the real estate and housing sector is contributing 12 per cent to 15 per cent to the national GDP and the annual turnover about Bangladesh Taka (BDT) 20 billion.

We all know that housing is one of the very basic rights for every citizen in the country, after food and clothing. To meet this fundamental requirement, the private real estate and housing developers of Bangladesh strategically initiated real estate development venture, a couple of decades back, to solve rapidly the growing urban housing problem along with the government. Consequent to the government's policy of supporting private sector initiative in this thriving sector, there had been an impressive boom in investment and developmental activities. The sector witnessed the entry of many new domestic realty players.

With the passing of the  Toma GROUP expanded its business activities and undertook various project in different fields . Toma Properties Ltd. has been one of the leading Real Estate Development Companies of the country. To its credit, it has completed and undertaken a number of Commercial and Residential projects including Satellite Townships. The company maintains a team of highly qualified and experienced personnel diligently working together to maintain 'Decent Living for the Teeming Millions'. With the Corporate Theme "Leadership with Excellence".