Organizational Behavior

Foujia Consulting and Development Properties Ltd

Foujia Consulting and Development  Properties Ltd

General Background of the Foujia Consulting & Development  Properties Ltd:

Foujia Consulting & Development has grown with time and with Bangladesh, since Foujia Consulting & Development  was established in 2002. Since then Foujia Consulting & Development  has taken part in port rehabilitation, construction of much needed factory buildings, the InternationalAirport, defense instillations, and high rise office buildings.

In time Foujia Consulting & Development  has grown to be one of the largest construction conglomerates in Bangladesh. Their credibility and dedication to quality is well established and has won them some of the most prestigious and challenging projects in Bangladesh. Foujia Consulting & Development  started its journey 7 years ago with a commitment to quality. Foujia Consulting & Development  now feels convinced that quality eventually pays. In the backdrop of the emergence of Bangladesh as a new nation, Foujia Consulting & Development  started as a small, almost insignificant enterprise by the name of Foujia Consulting & Development  Properties Ltd. From then on, Foujia Consulting & Development  has grown into a leading corporate group in Bangladesh. This development reflects Foujia Consulting & Development ‘s competitiveness, efficiency and technological advancement.

Foujia Consulting & Development ‘s professional approach, emphasis on manpower development, modern construction management methods supplemented by its mechanized working techniques with a wide range of equipment base, have enabled Foujia Consulting & Development  to win so many milestone projects. In keeping pace with on going demands for both up market high quality apartments and for mid market different range of moderate apartments Foujia Consulting & Development  is to provide several types of Apartment.

The Foujia Consulting & Development  Properties is changing. It is pursing new business opportunities because the world is not static. There have been many developments in the recent past that will affect us all, both in Bangladesh and globally.

 Corporate Management:

Since its formation, Foujia Consulting & Development  has boasted a very experienced management team consisting of skilled engineers and architects. Each of the company’s principals has a through understanding of the construction industry and his respective area of expertise. One or more of these senior partners, to the greater benefit of the project, oversees directly each project handled by Foujia Consulting & Development . There is also a high degree of integration among the various levels of management and staff.

General Overview of the Foujia Consulting & Development  Properties:

Foujia Consulting & Development  Today:

Foujia Consulting & Development  is a dynamic company. They have adapted and diversified along with our changing economy. Foujia Consulting & Development ’s diversification from pure construction came at a very opportune time and now Foujia Consulting & Development  is in a good position in the real estate development and housing sector.

Foujia Consulting & Development  has a strong sense of duty to the community they serve. Foujia Consulting & Development ’s contribution to affordable housing & environmental protection (by promoting the move away from burnt clay products) is an affirmation of this commitment.

Objectives of the Company:

The main objectives of the company are:

 To be number one in the Real Estate industry

 To offer higher standard of living for the people

 To offer a better location for every project

 To offer a quality and comfortable living for human being

 Profit maximization

 Growth of the Company:

Currently there are more than 350 small and big developers in Real Estate business. Foujia Consulting & Development  has grown with time and with Bangladesh. Since then Foujia Consulting & Development  has taken part in the development of the country by developing various types of buildings in Bangladesh.

Foujia Consulting & Development  started its journey 7 years ago with a commitment to quality. Foujia Consulting & Development  now feels convinced that quality eventually pays. The Foujia Consulting & Development  is changing. It is pursing new business opportunities because the world is not static. The growth rate of the company is about 33%.

For achieving organizational goals following promotional activities are done by the company:

 Newspaper advertisement

 Informative letter sending

 Participating in different housing fair by arranging different fair by their own


 Sending some gifts to the existing and prospective apartments owners

 Published brochures for every projects in domestics and international

Market share of the Company:   

This is the share of overall ‘market sales’ taken by each of their product. It can be expressed as the company’s sales revenue (from that market) divided by the total sales revenue available in that market. The main advantage of using market share is that it abstracts from industry wide.  Relatively few organizations in Real Estate sector, however, track their market share. In some circumstances this may well be a much more important measure. Sales may still be increasing, in an expanding market, while share is actually decreasing – boding ill for future sales when the market eventually starts to drop. Where such market share is tracked, there may be a number of aspects which is followed:

   Overall market share.

 Segment share – that in the specific, targeted segment.

    Relative share -in relation to the market leaders.

Board of directors:

Like other organizations Board of Director of Foujia Consulting & Development  Properties Ltd. is the apex body. Policies and decisions are regarding all important sectors and business matter of Foujia Consulting & Development  Properties Ltd. like marketing, finance, personnel, land procurement, construction is taken by the board.

Chairman                       Eng.Md. Nurul Aim

Vic-Chairman                ABM Fatah

Managing Director                  ABM Yusuf (Reza)

Managing Director         Eng. Md. Amir Hossain Sobuj

Financial Director          Md. Towhidul Ferdous

Advisor of Company     Md.Kamal Ahmed

Marketing Executive      Alamin Ahmed Jeshan

Accounts Officer            ABM Salam

Introduction to the Project:

With the expansion of economy, population outburst and mounting movement of people to urban areas, real estate has become one of the most prominent sectors of Bangladesh. Though it is a relatively new concept in this country, numerous companies are currently investing in this sector to exploit the potential of this sector. As Bangladesh is the most densely populated country in the world, the demand for developed lands for housing has constantly been increasing exponentially and consequently investment in real estate has always been profitable. Beyond providing physical shelter, housing may have significant impact on the lives of the dwellers in terms of skills enhancement, income generation, increased security, health, self-confidence and human dignity. Nordberg (2000) has clearly demonstrated that in most regions, housing has the potential of becoming an engine of economic growth because of its high yield on invested resources, a high multiplier effect, and a host of beneficial forward and backward linkages in the economy. Both the Constitution of the People’s Republic of Bangladesh and the UN Declaration on Fundamental Rights recognized shelter as one of the fundamental human rights. The National Housing Policy (NHP) 1993 commits the government to take initiatives in housing as a provider, for weaker section of the people and as a facilitator in all housing initiatives in Bangladesh. Nevertheless, making shelter available to all is increasingly becoming a significant challenge in Bangladesh.

With a large population of 140.10 million, Bangladesh is one the highest population density in the world. The economic development is far from satisfaction and the GNP per capita is US$ 363. Moreover, a large portion of the population lives below the poverty line and are deprived of habitable shelter along with other basic services. Bangladesh, like many other developing countries face an acute shortage of affordable housing both in the urban and rural areas. Dhaka now contains 40 percent of national urban population and suffers from severe backlog of housing provisions for middle and low income population. Due to the rapid increase in population, a lot of problems are being created relating housing issues. The major housing issues are:

 a. Inadequacy of live able housing which implies the need for supply of affordable housing in a well distributed and managed delivery system benefiting all income groups.

 b. The inability of the government to provide affordable land and housing to a growing population resulting in huge backlog and takeover of housing delivery system by the informal sector.

 c. The housing for the low income groups particularly, is environmentally hazardous and risky for the residents.

These issues have motivated the government and non-government entities to solve the major housing problems created inside and outside Dhaka. To increase the number of living places, free land is needed which is very much difficult to obtain inside the Dhaka city. That is why, the demand of increase in the number of REHAB members and also a new association, BALDA is about to form within September 2010 especially for land developers. There are approximately 453 companies currently investing in real estate sector. The real estate market can be subdivided into apartment builders and land developers. Out of the total 453 real estate companies, only about 5% are actively involved with land development. It has been reported that new companies has started investing in land development in the last 3 years, which justifies the claim that it is a promising venture. Moreover some companies have increased their domain of products by expanding their business backwardly in land development.

Rationale of the Study:

Real estate business is now one of the fast growing business sectors in Bangladesh. Now days there are more than 350 real estate companies in this sector and this number is growing day by day because of the lucrative profit margin of this sector. The growth rate of the industry is about 20%. Profit margin is about 15% to 25% on an average. So, that’s why I select this study to know about the condition of the real estate business in our country, how much initial investment needs to start the business, the problems that a new company faces in its initial stages and prospects of this sector.

Statement of the Problem:

This study focuses on one of the most important areas of real business sector in Bangladesh which may allow us to get the answer of some specific questions regarding this sector. So, as the statement of the problems specific questions to be answered by this study are the current market situations of real estate business in Bangladesh, whether it is a profitable sector in our country or not if anybody want to invest this sector and whether there are any problems & prospects of real estate business in Bangladesh or not. It says how an investor can start the real estate business, what kinds of rules and regulation he has to face and what kinds of problems he might has to face.

Scope of the study:                  

This report focuses primarily on land development industry in DhakaCity within the real estate sector and includes reviews of various literatures such as text books, reports of various land developers, product brochures that are available. Two questionnaire surveys were conducted to get a real picture of the industry, one for companies and the other for customers.  The report covers all the major players and a few relatively new but promising companies and other concerned organizations. In cases where several sources have different views or information on the same issue or topic, only higher authority or most updated views or information is presented.

Objectives of the Report:

Broad Objective:      

The broad objective of this report is to portray the present scenario of the real estate sector with major emphasis on land development so that it may help an investor understand the condition of real estate industry in Bangladesh.

Specific objective:  

Hence the specific objectives of our report can be outlined as follows:

  • Ø To have a look at the real estate industry.
  • Ø To determine the growth & prospects of this sector.
  • Ø To determine the market composition of this sector.
  • Ø To have a look at regulatory framework.
  • Ø The process of formation of a new company.
  • Ø To determine demand-side dynamics of the product of the company.
  • Ø To determine the threat of new entrants.
  • Ø To examine the land development market.
  • Ø To determine the investment feasibility in this sector.
  • Ø To determine the contribution of real estate sector in the economy.

Significance of the Study:

The significance of the study is to gain in sight knowledge about the investing in the real estate sector of Bangladesh. This study will also give me a vague idea about the economical condition and the problems that an investor face in different situations, their competitors, the capitalization, the rules and regulations of establish a new real estate company etc. I also believe that, these things will help me a lot if I want to start a real estate business in future. This report contains a descriptive study on “Financing in Real Estate Sector in Bangladesh- “A Case of Foujia Consulting & Development ”. The Problems of real estate sector in our country and some solution of those problems. In this report I have tried my best to gather all the necessary and relevant information for preparing a complete paper on this topic. It is also believe that this study may help anyone want to start the real estate business in future.


This report draws both on primary and on secondary data sources. The study is mainly done based on the working experience, discussion with the officers in Foujia Consulting & Development  and other expertise and secondary sources of information.

 Primary Sources:

The company was requested to provide information asked in the questionnaire provided. Also, personal interview with industry experts and technical personnel served as another important source of primary data.  Although formal questionnaires were used for the interviews, we were lenient in facilitating the collection of relevant information, and hence in some cases questionnaires were not provided to the interviewee, rather questions were asked based on the questionnaire and answers were noted down as references.

 Secondary Sources:

The report is mainly done based on secondary data provided by different information sources:

  • Bangladesh Bank Statistics 2002 – 2003
  • Real Estate Directory 2007
  • Land Development Act 2004
  • Reference Books
  • Product Brochures of Companies
  • Company Website
  • Rehab Published Booklets
  • Bangladesh Bureau of Statistics
  • World Bank Publications

 In addition, to make a judgmental inference on the feasibility of investing in land development industry, Porter’s Five Forces Model was used to determine the attractiveness of the industry and a SWOT Analysis of the sector was also done to understand the investment feasibility strategically.

Limitation of the study:         

In conducting the study, some problems were created which may be termed as limitations of the study. They are as follows:——————————

  • To make a comprehensive study, enough information was not available about the real estate sector.
  • I did not get up to date information regarding this sector.
  • Relevant papers and documents were not available sufficiently.
  • The time of this study was very inadequate to obtain depth knowledge about the financing in real estate sector- as an investor’s perspective.
  • Most of the cases organizations don’t want to disclose any information because of their own security which was the case for me as well.
  • Managers, employees did not properly participate with me by providing necessary information required for this study.
  • The books and journal of Real Estate Sector are not available in our country.
  • It was be very difficult for me to identify and understand the pros and cons of the organization within three months. So, to do this study time limitation was one of the major problems for me.

Industry Background:

Although the concept of real estate is only three-decade-old, it has already been widely welcomed by both the business and the academic community. As many as 453 companies are now listed members of Real Estate & Housing Association of Bangladesh (REHAB)[1]. The concept of modern real estate industry was successfully implemented by eminent business man Mohammad Abuyusuf in 1984. Under his chairmanship, Eastern Housing Limited, a sister concern of Islam Group of Industries, came to fore to alleviate housing problems of Dhaka city.

Dhaka, the capital city of Bangladesh, the largest and most industrialized city in this revering country of some 135 million, has now been turned into one of the largest mega cities and most populous cities of the world. Dhaka is the administrative, commercial and cultural center of the country and also continues to serve as the traditional center of wholesale trade. The population of the Dhaka Metropolitan Area is presently estimated to be 12 million people (2004), a number that is expected to more than double by 2024. The population of the six Districts surrounding and inclusive of DhakaCity.

Some industry experts suggest that although its initiation was marked in 1960s, the real estate industry boomed during mid 1980s to early 1990s. The main key factors for its sudden boom in that period are the advent of democracy, and thus restoration of confidence and belief that the business is feasible in among business community in the newly formed multiparty political structure. In addition, a large segment of our population started to go abroad to work, mainly in the middle-east, United States of America (USA), UK, etc. Consequent increase in buying power plus socio-economic culture of people to possess a piece of land acted as a catalyst for booming. The starting of this industry is marked by the pioneering movement made by eminent business man Jahurul Islam. He started to invest in the land development and real estate sector to reduce the housing problems of Dhaka city. He formed an organization named Eastern Housing Limited which was a concern of Islam Group of Industries.

The company started to work successfully implementing a project of building 700 houses in Pallabi Thana, Dhaka and acquiring 910 acres (3.7 km2) of land (Wikipedia). It was one of the first to provide low-cost housing to the residents of Bangladesh (then East Pakistan). It turned out to be one of the most trusted companies in the housing sector within a very short time. While the company started operations by developing real estate mostly within Dhaka, the capital of the country, it has started to build outside the city. It regularly takes part in REHAB real estate fairs, both at home and abroad, and experiences sell-out performances. The slogan of Eastern Housing Limited was Apan Thikana Gore Dey, which translates to builds your own address which reflects their commitment to the people for providing a better housing solution. The activities of Eastern Housing Limited were confined to Pallabi and Banashri Thana at the early days. Then the company started to expand their business by developing lands in different areas of Dhaka city. In the early 90’s, a significant change came in the industry. More companies started the land development and real estate business with enthusiasm and great passion and the sector started to flourish. Reputed companies like Sheltech, Concord, Bashundhara Group of Industries, Biswas Builders came in to scenario and helped to extend the span of this sector. The probable reason for the sudden boom in this industry was the advent of democracy in Bangladesh. After a political turmoil in the early 90’s, the political and social environment got quiet and new investors started to come into this business.

The main objective of the companies can be depicted as:

  • To help solving the residential problem of DhakaCity
  • To offer finest apartments in excellent locations to the clients
  • To install best possible fixtures and fittings
  • To satisfy the customers by export-oriented service
  • To perform social responsibility for a happy future

At present almost 400 Rehab registered members are operating in this business. About  95 % of business is dominated by top 10 companies. This market is highly segmented, primarily based on location, price of the land and size of the apartment.

 Housing Finance in Bangladesh:

The housing finance sector in Bangladesh is both underdeveloped and highly segregated. Formal construction and mortgage finance by the banking sector, which requires proof of land ownership or leasehold deeds and the deposit of title documents as collateral, is only used for a small proportion of new house production and for an even smaller proportion of purchases of existing houses. The 1993 ADB survey of homeowners of newly constructed houses showed that the most important source of housing finance was household savings (more than one third). Loans from relatives and friends were the second most common form of finance, followed by the sale of other parcels of land. Employer and bank loans (including Grameen Bank loans) were utilized by 13 percent of new home-owners and HBFC loans were only acquired by 5 percent, all in the higher income brackets. Rotating credit institutions were not mentioned and are, therefore assumed not to play a significant role in house construction.

The lack of available and accessible housing finance has been identified by the Government of Bangladesh (GOB) as one of the important hurdles in improving the housing conditions for middle and lower income households. In that connection, the Ministry of Local Government and Rural Development, and Cooperatives, recently requested UNCHS to provide policy advice on the housing finance sector, with a particular focus on policies to increase access to housing finance by middle and lower income households. UNDP agreed to provide funding for the study. The housing finance consultancy is to a) provide a brief overview of existing housing finance systems in Bangladesh, including those available to the urban and rural low-income households, and, b) to make suggestions for the improvement of housing finance mechanisms for lower-middle and lower income groups suitable to the conditions in Bangladesh. The consultancy took place from November 11 through 23, 1998 in Bangladesh.

UNCHS has been involved in the shelter and urban sector of Bangladesh since 1979. It conducted an Urban and Shelter Sector Review in 1993, and has recently formulated an Urban Poverty Alleviation Project which is awaiting final approval by the GOB. In addition, UNCHS has completed a Shelter Rehabilitation Assessment Study after the recent floods. A housing finance component that would increase access to housing credit for lower income groups would complement projects by the GOB and International Agencies that already include micro-credit, infrastructure and services provision. The need for improvements in the housing finance system has been expressed in several studies and by different government and international agencies.

The Asian Development Bank prepared a comprehensive urban institutional improvement project in 1993, of which an analysis of the Housing finance sector was a part. Detailed recommendations for action were made. However, the project was not approved and government did not take up the proposed actions. The World Bank is presently assisting Bangladesh in the formulation of an Urban Strategy. The draft report also identifies housing finance as one of the constraints in improving housing in urban areas, but it does not include an analysis of the sector. The present study builds on these efforts and attempts to formulate recommendations for improving access to housing credit for various groups of presently underserved urban and rural households.

The analysis and related recommendations fall into four categories: 1) the macro-economy and the efficiency of capital markets generally as these relate to the functioning of the formal housing finance market, 2) the way housing is supplied in urban and rural areas, 3) the structure and efficiency of the housing finance system, and, 4) micro-finance mechanisms for housing accessible to households that are unable to be served by the formal finance system. This brief consultancy cannot do justice to the complexity of these four different areas, but attempts to provide a coherent picture of present practices and potential improvements that might be explored in both the formal mortgage market and the alternative housing credit programs offered by micro-finance providers.

 List of Real Estate companies in Bangladesh:

 Advanced Development Technologies Ltd.

 Bangladesh Development Company Ltd. (BDC)

 Bashati Consortium Ltd

 Building Technology & Ideas Ltd.

 Concord Real Estate & Building Products Ltd.

 Dom-Inno Builders Ltd.

 East West Property Development (Pvt.) Ltd.

 Eastern Housing Ltd.

 Hassan and Associates Limited

 Kashba Housing Private Ltd.

 Mega Builders Ltd.

 Metro Makers Ltd.

 Metro Homes Ltd.

 Biswas Builders Ltd.

 Neptune Land Development Ltd.

 Rangs Properties Ltd.

 Sheltech (Pvt.) Ltd.

 SS Builders & Developers Ltd.

 Suvastu Development Limited

 The Structural Engineers Ltd.

 Tropical Homes Ltd.

 Unitech Holdings Limited

 Happy Homes Ltd.

 South Breeze Ltd.

Union Development

 Asset Development Ltd.

 Navana Real State Company Ltd.

 Russel Lodge Ltd.

 Oriental Ltd.

 Zas Builders Ltd.

 Basic Builders Ltd

 Mahdi Homes Ltd.

 Adobe Builders Ltd.

 Living Stone Ltd.

 Dominant Real Estate Ltd.

 Quantum Real Estate Ltd.

 Latif Real Estate Ltd.

 Foujia Consulting & Development  Properties Ltd.

 Homeland Properties Ltd.

Sales Trend/ Growth Factor:

Finding out current trend in this sector is an important aspect. At times the market favors the buyers and at times it will favor the sellers. Taking an example here, when there are more job opportunities in an area, more people will want to relocate and hence the demand for real estate will be high and hence one can appreciate property value to increase. This means selling property and making a good profit from the sale is something one can comfortably do at such times.

As discussed in the earlier chapter, the real estate sector is a booming sector with lot of potential. Dhaka city is getting crowded day by day and the search for a better place to live is going on. During the late 90’s, apartment developers were very busy in constructing the apartment buildings all over Dhaka. At that period, people from higher class to middle class were quite interested to buy readymade apartments. As a result, Dhaka city got jammed with apartment buildings and now it seems that the apartment builders are in search for new lands to build the new apartments. But, it is really hard to find an empty space inside Dhaka city. So, the focus of the apartment builders changed and they got more focused on developing lands to build apartments. For this very reason, the land development business revived again.

Growth Trend:   

From the statistical point of view, it is quite evident that the real estate sector is very much prospective for a country with huge population like Bangladesh. In the last few years, the number of REHAB members has increased quite rapidly and significantly. This is quite evident in the membership number growth trend of REHAB in the last few years. Figure shows the growth trend of REHAB members in the past few years.

The increasing number of Rehab members shows that real estate and housing sector is growing rapidly in our country. While comparing the growth of the real estate and housing sector and the construction sector with that of GDP it was found that trend growth in the two sectors for the period FY 1992-2002 was 4.8 and 7.5 percent respectively, which is much higher than the trend growth in GDP of 4.6 percent for that period. The shares of the real estate and housing sector and the construction sector in the GDP were quite high in the year 2002 and accounted for 8.3 and 8.0 percent respectively (REHAB-CPD Dialogue on Housing Sector). In the figure 2 it is quite obvious that the contribution of real estate sector in the GDP is getting significant every year.

But, from the figure 3, it can be seen that the percentage of the real estate sector is in a decreasing trend over the years because other industries are increasing simultaneously like readymade garments sector, telecommunication sector and so others. That is why, the percentage contribution of the real estate sector in the total GDP decreased.

Growth Potential:

With the continued growth of population land for agriculture and forest will shrink in tandem. This calls for high density settlement either in high rises or in small unit low rise apartments. The area occupied by human settlements and supportive infrastructure in Bangladesh is quite high at 30 %. Land is becoming increasingly inadequate to provide individual housing solution to all and as a result demand for apartments is growing rapidly. Inheritors are inclined to building apartments as a means to share common property. The significant increase in the land value in various regions of Dhaka shows that investment in land development project is very much prospective. From the table 1 it can be seen that in the last three decades, value of land in various regions of Dhaka has increased quite astonishingly ranging from 150 to 1000 times. This means that land development in this city is very much prospective and can be very fruitful.

Table 1: Change of Land Price over the Last Three Decades













































Karwan Bazar41.5



Source: Centre for Urban Studies (CUS ), Dhaka. June 2008.

Moreover, the central portion of Dhaka city is getting clogged with the unplanned buildings. The central Dhaka city or Dhaka City Corporation (DCC)/ Dhaka Metropolitan Association ( DMA) is a very densely populated area with an average density of 20,000 persons per sq. km rising to 1,35,000 per sq. km in some denser parts of the city[2]. The future expansion of the city will be mainly within the Dhaka Metropolitan Development Project (DMDP) area. However, the urban growth has been recognized within the DMDP area, the actual development will also take place beyond the DMDP limits.

 So, population is increasing tremendously although land is fixed. It is not feasible to expand the accommodation of the people horizontally but is possible to expand vertically. The role of real estate companies is very much important to manage this. It creates an opportunity for real sector business sectors in Bangladesh because as the population increasing the basic human needs that is shelter for living will also increasing. As result, the demand of housing will increase which is a great prospects for the real estate sectors in Bangladesh. The following tables will give us an overview about the trends of population growth in Bangladesh as well as in Dhaka city.

Table 1: Trend of Population Growth in Bangladesh


Population (in million)

Growth Rate













 Source: Statistical Year Book of Bangladesh 2008

Table 2: Trend of Population Growth in Dhaka City:


Population (in million)

Growth Rate












 Source: Statistical Year Book of Bangladesh 2008

The formal system is comparatively smaller and the absence4 of any recent housing statistics, only a rough estimate of the dwelling units by major sub-systems is possible. For the 7.5 million people in central city or DCC/DMA area in 2008, there were about 1.0 million dwelling units while the DMDP or Greater Dhaka area may have 1.6 million dwelling units, assuming an average per dwelling unit occupancy of 7.5 percents. That is why the developer companies are also finding a way out of this problem. The developers are thinking of going outside of Dhaka to find new spaces for plots. The extension process of Dhaka city is now going on in the northern and eastern part. In the northern part, the extension process is named “Uttara Third Phase Development” and in the eastern side the development process is named “Purbachal Development Process”. It is quite evident that the urbanization process is getting decentralized and the developer companies and the government authorities are trying to extend the area of Dhaka outskirts of the city.

As the apartment sector has got saturated and there is almost no way to increase the number of apartments inside the city, land extension is almost inevitable. For this reason, land developing companies have huge potential to make a huge profit by developing the undeveloped lands and selling those to the developer companies or developing themselves.

The following table will give us the approximate figures about the number Apartment units delivered in the last 20 years and its growth rate as well:


No. of Apartment

Growth Rate

































































Table 3: Apartment units Delivered in the Last 20 Years

Note: Current Average Growth Rate is 10% (approximately)

Compared to other industries land development sector has a huge potential to grow and extend the business because there are some unique advantages in Bangladesh prevails. These advantages are:——

Cheap Labor:

 Low wages have traditionally been a major strength of Bangladesh’s labor-intensive leather sector. The hourly wage rate in Bangladesh’s leather sector is lower than China and Sri Lanka (US$ 0.39 as compared to US$ 0.69 and US$ 0.48 respectively). However, wage rate of other competitors such as Pakistan and India are somewhat similar to Bangladesh’s, being US$ 0.41 and US$ 0.38 respectively.  While Bangladesh’s cost of labor has gone up since the government declaration of minimum wage of Tk. 1620 per month. The wage rates in China, India, and Vietnam have also been rapidly increasing due to their consistent economic growth and increase in the overall standard of living.

 Large experienced work force:

 The concerned industry right now is employing a significant portion of the nation’s workforce. Through decades of experience, the average labor skill in the leather sector in Bangladesh developed significantly. The quality of products produced in Bangladesh is, according to both buyers and manufacturers, a key advantage of Bangladesh. Table shows a significant growth in economically active population from 1983-84 to 2005-06. So, it can be seen that the sector can have a significant growth if the huge workforce can be driven properly.

Self-sufficiency in the material market:

The materials needed for the land development and building apartments are quite cheap and available in the market. Materials like brick, sand, soil, bulldozer, caterpillar are quite available in the local market. The quality of these products are quite satisfactory and workable according to both buyers and manufacturers and that is why it is a key advantage.

After considering all these factors, it can be concluded that the land development sector in the real estate industry can be very prospective because this industry has every potential which is needed to boom.

Product Composition:     

 Real estate sector of Bangladesh is a very prospective sector. More and more companies are getting involved in this business. This sector is generally divided in two parts. One is land development and the other is apartment building. These two sectors are internally related with each other. If the demand of the apartments increases, the demand for land will also increase. That means, these two products are interdependent. After developing a green field, the companies try to sell it to the buyers. In the mid and late 90’s the buyers would like to buy readymade apartments because after purchasing the land, it was a hazardous matter to build a house of their own. That is why, customers preferred to buy readymade apartments. But, now a days, the apartment sector has got saturated and that is why, the land development sector is getting more attention.  Now-a –days, most of the major players like Bashundhara Group of companies, Sheltech, Amin Mohammad, Eastern Housing, Biswas Builders Limited are investing in both the sectors-land and apartment building. Major companies are investing a huge amount of their capital in the land development sector. The main aim of these companies is to provide their clients with competitive price, quality of products and completion of project in time. To provide the customers quality product, the developer companies are working very hard. The large projects inside and at the periphery of Dhaka city reflect their commitment towards the customers. The following provides a small reflection on the products of various developer companies.

Company Name : Biswas Builders

Project Name : PurbachalHillCity Project


Purbachal Hill City Project  is a sprawling residential complex covering over 8000 plots. The plots come in the following sizes : 3.5, 5, 7 and 10 kathas. At the present time, the company is offering plots with a very competitive pricing scheme and easy repayment methods. Most of these plots are now ready for immediate home construction.

Project name : Biswas Lake City Project

Location : Ashulia, Dhaka

Description :

Biswas Lake City Project is a sprawling residential complex covering over 600 acres and 6,000 plots. The plots come in the following sizes: 3.5, 5, 7 and 10 kathas. At the present time, the Company is offering plots  with a very competitive pricing scheme and easy repayment methods. Most of these plots are now ready for immediate home-construction.

Company Name: Amin Mohammad Group

Project Name : Ashulia Abakash

Location : Purba Sadarpur, Ashulia, Dhaka

Size of the plots : 2-5 Katha

Project Name :  Ashulia Barnali

Location : Gouripur, Ashulia, Savar

Size of the plots : 3-4 katha

Project Name :  AshuliaKingdom

Location : Bara Rangamatia, Ashulia, Savar

Size of the plots : 2-5 katha

Project Name :  Ashulia Laboni

Location : Gouripur, Ashulia, Savar

Size of the plots : 2-5 kath

Project Name :  Ashulia Provati

Location : Khagan, Ashulia, Savar

Size of the plots : 3-4 katha

Project Name :  Ashulia Sharnali

Location : Chowbaria, Ashulia, Savar

Size of the plots : 2-10 katha

Project Name :  AshuliaModelTown

Location : Ashulia, Savar, Dhaka

Size of the plots : 2-10 katha

The real estate sector has also made substantial contributions to the growth of a host of backward and forward linkage sectors which include paints, ceramics, aluminum, furniture, consultancies and many others. The catalytic influence of the real estate and housing sector in development of linkage industries whereby the sector is immensely contributing to employment and the GDP can be depicted as below:

a)     Bangladeshi state-of-the-art ceramic industries largely meeting the local demand for ceramics

b)    Thai and Kai aluminum meeting demand for door and window frames

c)     More than a dozen paint industries, many of them multinationals, are catering to local demand

d)    A large number of furniture making and interior design companies supporting the housing industry

e) An exponentially growing cement sector, which is helping the country to attain self-sufficiency in this important input.

 Market Composition:

Real estate market is a well structured market in Bangladesh like other countries. It is highly prospective and consists of key players as well as other non-major entities. The major player in this sector is the government authority RAJUK (Rajdhani Unnayan Katripakhkha) which dictates the terms in this market. Then comes the private companies among which the major players are: Bashundhara Group (Bashundhara City Development Ltd., East-West Property Development (Pvt.) Limited ,  Jamuna Bashundhara Housing Development Ltd.) & Eastern Housing Limited. The non-major entities are:  Biswas Builders Limited, Metro-Makers and Developers, Concord Group of Industries, Sheltech Pvt Limited, Amin Mohammad Group, Ashian Land Developers, Bangladesh Group and so on. The real estate market can be characterized as highly segregated, primarily based on location, land size and price of land. Among the major entities RAJUK and Bashundhara play a huge role in the land development market. Together they have captured almost half of the market. Market share of the companies have been determined based on two factors. These are: a. By total land price and b. By total land area. The two figure show the market segregation by both factors.

Figure 2 shows the market share according to total land price and figure 3 shows the market share according to total land area. From the figure 3 it can be seen that RAJUK dominates the market in case of total land area (46%) because they are the government entity and naturally they should occupy the major portion of land. The second highest portion of land is occupied by Bashundhara Group (16%). Eastern Housing Limited occupies the market with its share of 11% which is the third largest share. The other non-major entities occupy the rest of the market.

But, when the market share of the companies are calculated according to total land price, Bashundhara Group dominates with the largest share of 32%. RAJUK here captures 21% of the market. The reason for this type of change in the land price factor is that the price per katha of land occupied by RAJUK is less than Bashundhara Group. That is why, when the market share according to land price is concerned, Bashundhara tops the list.

The real estate market has not spread outside Bangladesh because of lack of proper facilities for the foreign investors. This is probably because the risks involved in land business abroad are very high and the management systems of the companies are not efficient enough to control business in various countries. But, some entities like Biswas Builders Limited holds an office in United States of America. It shows that the companies are trying to extend their business outside the country, which seems very positive from the investor’s point of view.

Regulatory Framework:

There are a few questions in connection to the land-use control i.e. why the land-use has to be controlled. The answer is that the land must be used properly to protect the public health, safety, morals, and general welfare of its citizens. The proper use of land and water resources makes sure environment, ecological balance between man and nature. The legislature has the authority to enact laws to promote and protect the public health, safety, morals and general welfare of the citizens.  The legal and regulatory framework concerning the housing and the real estate development includes laws such as Building Construction Act (1952), Town Improvement Act (1953), Dhaka Master Plan (1959) and Building Construction Rules (1984). According to the professionals in this sector, these laws are not adequate to facilitate resolving housing problems. Other limitations of these rules included a lack of appreciation about the differences between planning and building rules, the outdated nature of such rules and the inability of the rules to address the demands of an expanding city and targeting only the middle and high-income groups. There is no standard housing plan for Metro Dhaka. The Master Plan (1959) was, in general, prescriptive in nature, with particular public provision proposed on an individual basis for specific places, with exceptions made for schools and open spaces for which generous standards were proposed. The rigid land use zoning of the Master Plan (1959) is out of date as a basis for development management. The Bangladesh National Building Code (1993) which was intended to ensure safety in construction, has not been made mandatory. The Building Construction Rule (1984) demands a great deal of information from the applicant, but imposes very few compliance requirements on him. The procedures involved in the enforcement of law such as taking permission before development and construction were felt to be cumbersome. It was found that a developer has to apply to eight different authorities including WASA, DESA, TITAS, Fire Department, civil aviation authority and ward commissioner for permission, which costs money and time. Moreover, the information solicited by the agencies relate mainly to ownership, rather than providing guidance for strategic and development control. Since the housing plans are not detailed, there is ample scope for breach of rules. Lack of adequate staff capacity of the oversight agencies limits monitoring and leaves scopes for non-compliance with the rules and regulations. Other two laws named Private Housing Policy – 2002 and Multi- Storied Building Construction Policy –2002, which were enacted to ensure risk free construction. The Dhaka Metropolitan Development Plan (1995) was a revolutionary step in this process.

 The objectives of these policies as mentioned in the keynote are to bring all real estate developers under some discipline to ensure overall development of the real estate and housing sector, to facilitate risk-free building construction and to make housing facilities relatively accessible for fixed and middle income groups. After those, some other rules that are concerned with this sector, which are: Water Bodies Preservation Act (2000), Private Land Development Rules (2004). There are a few questions in connection of the real estate business i.e., why and when a real estate license is required and how to obtain one. The answer is that one is required by law to obtain license for real estate practice. The license has to be obtained through rules and procedure specified by law. The next question is who makes the rules and how they are enforced. The starting point is the legislature. The legislature has the authority to enact laws to promote the safety, health morals, order and general welfare of the people. This includes the licensing and regulation of real estate brokers and salespersons. In Bangladesh basically the real estate business is running on the basis of contract made between the parties and contract Act 1872, land laws and a few concerned municipal laws. These laws are not up to the mark to deal with the real estate problems of this time. These are not enough and some cases they are to be amended.

Company Law:       

The company laws protect the rights of the buyers. These laws are very important from both the buyers and company’s perspective.

 1.     Statutory Laws:

Right now the legislature should enact laws requiring that real estate agents be licensed. The laws could be passed in keeping the following issues in mind:

  1. That there will be a pre-license education requirement
  2. What there will be a license examination
  3. That continuing education will be required

 2.  Zoning Laws:

 Zoning laws and Building codes are to be enacted for maintains proper order and putting the real estate right in track. The national building codes should be implemented properly and in some cases it has to be amended to meet the need of this century. A buffer zone is a strip of law that separates one land use from another.

3. Consumer Protection Laws:

Consumer protection laws are to be either passed or amended to hold the real estate agent, real estate company, real estate trade Organization, builders and association liable for their work.  Real estate agent, trade organization, associations are constantly working to elevate the status of real estate brokers and salesperson to that of a competent professional in the publics mind. The law should be passed to keep the concept in mind “ Let the Seller beware and let the agent beware”.

4. Homestead Protection Laws:

Homestead protection laws should be enacted in keeping the following matters in mind:

  1. To provide legal protection for the homestead claimants from debt and judgments against  them that might result in the forced sale and loss of the home.
  2. To provide a home for a widow and sometimes a widower for life. Homestead law also restricts one spouse from acting without the other when conveying the homestead or using it as collateral for a loan.

Company Formation Procedures:

 The law cannot work itself alone, without the implement authority. The legislature should establish two bodies to carry out the requirements.

  1. One body deals permanently with adopting rules, statutes, ordinance and regulations to implement the license law as specified by legislature. This body may be called real estate commission consists of five to nine members. Some members can be licensees from the real estate community while others can be non-licensed members of the general public. Commission members will be volunteers and selected by President of the State to represent all geographical parts of the country, the commission sits for the meeting time to time and provide input to the state in real estate for the welfare of the general in dealing with licensees. Executive director or Similar other title can be appointed by the government to oversee real estate regulations. His responsibility is to carry out the wishes of the legislature and the real estate commission on a day to day basis.
  1. Second body called a real estate department or real estate division can be established by the legislature to assist in this. The real estate department or real estate division answers correspondence sends out application forms, arranges for examinations, collects fees, issues licenses, approves subdivision reports and forth. Staff will be available for the investigation of alleged malpractices and for audits of broker trust fund accounts.

In short, it is the real estate department with which licenses will have the most contact      but it is the commission, the executive director, and the legislative that will set licenses requirements and will till a license what he can and cannot do in real estate transactions. A visual graph is given for better understanding.

Major Buyers:

The land developer companies mainly target resident Bangladeshis; however expatriate and non-resident Bangladeshis are not insignificant. The quantitative value regarding the exact percentage of each category could not be found.

The classification can also be based on income level of buyers. The existing companies target middle-class, upper middle-class and upper class tier of the society. When asked about the income level of the middle class, the general definition given by the company personnel is the person having a monthly income of Tk. 30000.

Since this industry demands huge capital requirement, the formal bank credit facility is scarce and most of the existing companies are still in investing stage, the buyers are practically offered very few choices.  The bargaining power of the buyers is very low.

The land developer companies mainly target resident Bangladeshis; however expatriate and non-resident Bangladeshis are not insignificant. The quantitative value regarding the exact percentage of each category could not be found.

The classification can also be based on income level of buyers. The existing companies target middle-class, upper middle-class and upper class tier of the society. When asked about the income level of the middle class, the general definition given by the company personnel is the person having a monthly income of Tk. 30000.

Since this industry demands huge capital requirement, the formal bank credit facility is scarce and most of the existing companies are still in investing stage, the buyers are practically offered very few choices.  The bargaining power of the buyers is very low.

Economic Condition of Buyers:

 It is very important factor in real estate business. Because the buying decision of a buyer depends on his economic condition. If the buyers economic condition is good then there is a chance for the real estate company to sell the flat in good numbers in a good price.

Price Sensitivity:

The land price in Bangladesh is virtually increasing exponentially. The data shows it very clearly. Especially the land price of Dhaka increasing very rapidly. In some decade the price increasing three or four times.

 Buyers’ Preference:

The buyers tend to emphasize certain factors while buying land. A mini-survey conducted over a group of 20 buyers to understand their preference shows that buyers consider location the most important factor. The other factors in order of decreasing importance are land price, company goodwill and plot size. Only two buyers consider having a wide road adjacent to plot an important factor.

 Market barriers:        

When a new company try to get into the market it has to face some barriers because there are some existing company who are already catch the market and run their business. It is very hard for the new company to get the market share to them.

 Government Spending:     

The government’s commitment to provide housing facility for the city dwellers encourages it to involve in land development. The government achieves this goal through Rajdhani Unnayan Kartepakkha (RAJUK) which is also the governing authority on real estate sector. Thus, the government intervenes through direct spending in the industry. The government spending is astronomical from the view point of land area.

 Land Financing:

There is no formal bank loan facility is available. Very recently, the Bangladesh Bank has directed the other banks to discontinue all forms of financing for land purchase. Although formal financing is grossly restricted, the big players of the real estate sector get bank credit facility because of their goodwill. They are also in advantageous position that they can invest the fund they obtain for other ventures in land developments.

Capital Requirement:

The capital requirement of land development is solely on the part of the investors. Moreover, the required capital is also very considerable. Not only that but also a continual flow of capital is needed to maintain the growth. An interview with industry experts reveals that a preliminary lump sum amount of Tk 2,00,00,000/= is sufficient to start the business, although other incidental costs pushes this amount to higher values.

 Brand Identity:

The buyers consider goodwill of the company a key factor while purchasing a piece of land. And since still many companies are still investing, the buyers naturally have predilection to buy products from the companies which successfully could hand over their plots to buyers. Thus these companies get a good position in buyers’ priority list.

Access to inputs:  

A large body of cheap labor force is vital for the growth of this industry which our country is bestowed with. Apart from the labor force, other inputs such as ……

 Threat of Substitute Products:

The land development market is a very segregated and widespread market. Some times they face the threat of substitute products.

 Contribution of Real Estate Industry in Bangladesh:

The economic significance of real estate lies in the fact that it is highly decentralized in nature and is closely related to other industrial sectors. The force or feebleness of economic developments in real estate has major repercussions for the rest of the economy.

  • Real Estate and the Gross Domestic Product:

Real estate is a major contributor to the Gross Domestic Product (GDP) in terms of indirect business taxes, income from property and payments received by industry workforce. Both the local and divisional authorities levy taxes on commercial and residential property, which help fund additional services. Raising property values is necessary as it helps municipalities to offer a particular standard of services while maintaining a set tax rate. Prohibitive tax rates are likely to holdup economic growth; hence, the means to enlarge the tax base through new construction and appreciation is crucial to running a healthy government. Currently, real estate industry of Bangladesh contributes about 16 percent of the whole GDP (Source: Rehab).

  • Real Estate and Property Tax: 

Property tax has to be paid yearly to the local and state authorities irrespective of whether a property is transferred. A robust real estate market, where prices are inclined to go up, adds to greater property values and better tax revenues. Municipalities generally count on growing home value developments to raise the assessable property base leading to substantial revenues. This eliminates the need to jack up transfer or property tax rates. The real estate industry brings about stability in the economy and helps meet basic human requirements.

The approximate figure regarding the Taxation is given in the following table and also the graphical figure has been shown in the Appendix 1 (Figure 3).



(in “000” Taka)













Table: Taxation        

  • Employment Opportunities:

The spurt in the real estate creates considerable job opportunities, particularly in the construction industry such as real estate builders and agents, retailers and manufacturers of durable goods. Dealing in real estate also entails intricate monetary transactions that utilize the services of people from the financial sector and the real estate brokerage business. Thus, real estate is a major employer and accounts for billions in national income.

  • Rising Income Levels:

Real estate has positively impacted the income base. The spurt in real estate has led to rising income levels of professionals in the real estate business and the housing services industry as well as swelled the rental income of landlords.

  • Growing Middle Class:

Many households have taken advantage of low mortgage rates and tax credits to purchase homes. As a result, sales of residences have been vigorous, the number of mortgages approved has increased tremendously, and the number of people owning homes has climbed higher. In addition, the low interest rates and rising income levels have enlarged the middle class base and boosted the performance of the real estate industry.

  • Increasing Urbanization:

Real estate fever is gripping every state leading to increasing urbanization as witnessed by increased demand for and development of residential property, burgeoning malls and shopping plazas, mushrooming demand for commercial space and Information Technology Parks.

  • Real Estate and Other Sectors:

The real estate industry is majorly associated with several other sectors of the economy. Every time a new house is erected, it fuels demand for intermediate goods such as cement, gypsum, bricks, wood and wood products, plumbing, and insulation. Prior to and following a real estate transaction, owners buy products like paint, wallpaper, fittings, carpeting and upholstery, furniture and appliances, plus services such as packers and movers, cleaning and landscaping. The real estate explosion fans credit expansion and stress on consumer durables. People take loans to purchase homes and then re borrow to furnish the homes. Buying homes involve huge capital costs and a major part of the selling price is raised through finance. In fact, a considerable amount of capital market funds is invested in housing. Payments made to these associated industries also contribute to the economic development.

The major findings of the study can be summarized as below: ­­­­­­­­­­­­­­­­­­­­­­­­­

  1. Real estate business sector can play an important role by increasing the gross revenue individually for making the strong economic stability.
  1. Some times the real estate companies do not follow the rules and regulation which is provided by RAJUK.
  1. The real business sector can play a vital role for developing the Trade & Commerce by increasing the number of Trade & Commerce Buildings as part of their business activities which may have a great impact on the development of our country.
  1. Real estate business sector also can play a vital role for developing the financial intuitions like: bank. As they take a large amount of loan every year for their business purposes the financial institutions can make money from there.
  1. It helps to increase the standard of living of the people by offering different apartment for different class of people and it also make the balances among the middle class, lower middle class and the upper class people.
  1. It also helps the country to become more industrialized and socialized and it also helps to maintain the social peacefulness.
  1. By creating their projects outside Dhaka city it also helps the country to become decentralized as well. But the developers do not get any necessary incentives (such as tax holiday for investment in rural areas) for the government for its greater participation in the rural housing sub-sector.
  2. Real estate business has a great contribution for ensuring the Govt. revenue through Taxation, Vat and Registration Fees etc. Every year Bangladesh Govt. earns a large amount of revenue from this sector.
  1. Lack of infrastructural facility is the main obstacle for the land developers to expand real estate business in rural areas. The land developers do not get convenient land of large size from one single owner for abstaining from the legal problems and the higher carrying cost of materials for building the flat.
  1. This sector creates a lot of employment opportunities because there are various sectors related to real estate business like: Construction Sector, Management Sector, Engineering Department, Accounting & Finance Department, Legal Sector, Marketing & Sales Department, HumanResourceDepartmentetc. It can play a major role by reducing the unemployment problem of our country.
  1. Sometimes developers are not properly following the procedures for borrowing money from financial organizations.
  1. Problems of increasing the price of raw materials (iron, cement, brick, sand etc). Now a day it is a big threat of the real estate sector.
  1. Government should provide more modern equipments and technological facilities to the real estate business sectors so that they are being able to ensure a well strong, quality and risk free buildings for facing any type of accidents or natural disasters.
  1. Real estate companies should follow the rules and regulations very strictly which is provided by RAJUK.
  1. Lack of infrastructural facility is one of the most important problems of expanding real estate business in rural areas. So the government should solve this problem as soon as possible.
  1. Government should encourage the real estate developers with necessary incentives (such as tax holiday for investment in rural areas) for its greater participation in the rural housing sub-sector.
  1. The government should provide the real estate companies easy loan facilities. And provide the loan at a low interest rate to promote the real estate business.
  1. Bangladesh Government should help to organize the various promotional activities regarding the real estate business like REHAB fair so that this type of fair may be help to development of this real estate business in Bangladesh.
  1. The Bangladesh Government should encourage the real estate business by relaxing the rules and regulations regarding establishing, promoting and developing the real estate business in Bangladesh.
  1. The real estate business sectors’ should be aware about fulfilling this need of housing by ensuring better services and better quality buildings.
  1. The developers should be aware about using modern equipments and technologies for building constructions; otherwise there may be a chance to face a big financial losses and also loss of lives by accident.
  1. Sometimes developers are not properly following the procedures for borrowing money from financial organizations, they should follow this.
  1. The government should control the price of the raw materials of the real estate industries. To control the price the government can monitor the market regular basis.

We know that there are five basic needs are in the human life. Housing is one of those and it is very essential for every people. Real Estate Industries are working to provide residence for those people who would like to buy apartment to leave in a luxurious and peaceful condition. Besides, this industry also has created a large number of jobs in the job market. Thousands of backward linkage industries such as: Brick, Sand, Ceramic, Sanitary wears industry etc. have set up on the base of real estate industries. So, it is playing a great role in our national economy as it has a huge impact on the country’s revenue collection.

So, in conclusion we can say that real estate sector is one of the most progressing sectors of our country. The local economy of our country is mostly depending on this particular sector. Real estate business is now one of the fast growing business sectors in Bangladesh. It is a recognized fact that the health of the Real Estate Development Sector is the barometer of the National economy.  So, for country like Bangladesh real estate business can be a vital and essential prospect which can play a major role for the development of the country if we and our government want to solve one of the biggest problem in our country which is called housing problem, the real estate sector can only solve this problem. Though this is a very important sector but it has a lot of problems. So both our government and also the peoples who are involved with this sector can take some steps to solve those problems. Especially our government can take some steps to improve this profitable sector because there are some maters that can only solve by the government not any person. The raw materials (cement, sand, rod) price are sometimes very fluctuates which is not a good symptom for this sector.  Our government should handle it very hardly.

 At the end of the report we can say that, if we want to do better in the real estate sector we and also our government must have to take some necessary steps to solve those problems as soon as possible to expand this profitable sector. So, at last my request and I hope that the government should keep attention of this profitable sector that plays a vital role in the economy.


  1.        i.            Would you please tell me the year of establishment of your company?
  2.      ii.        What’s the legal status of your company?
  3.   iii.        What is the initial capital requirement of establish a new company?
  4.   iv.            What are your company’s major concentrated areas?
  5.      v.            What kinds of products your company makes?
  6.   vi.            Would you tell me, how many projects your company has completed?
  7. Would you tell me, how many projects work in process?
  8. What is the uniqueness of your company that makes your company different from other companies?
  9.   ix.            How do you position your company?
  10.      x.            Do you think that your company has a great contribution for the development of the country?
  11.   xi.            What are the contributions that you think your company makes for the development of the country?
  12. Do you think that your company or the real estate business sectors are facing any problems to operate their business in Bangladesh?
  13. What are the problems that your company or the real estate business sectors are facing to operate their business?
  14. What do you think about the future and prospects about the real estate business in Bangladesh?

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Corporate brochure of Foujia Consulting & Development  Properties Ltd.

Foujia Consulting and Development  Properties Ltd