Real Estate Industry Faces Troubled Times

Bangladesh requires 100,000 new flats annually, but realtors can supply only 8% due to affordability constraints and high mortgage interest rates. FR Khan, MD of Building Technology and Ideas (bti), suggests fixing interest rates and increasing loan-to-value ratios to improve accessibility.

The supply of new real estate in Dhaka is expected to decrease due to declining applications for building approvals from RAJUK. Economic challenges, higher living costs, political uncertainty, and the impact of the new Detailed Area Plan (DAP) 2022-2035 are key reasons for this decline.

Jewellers in Bangladesh have announced another increase in gold prices, raising the cost by Tk 2,822 to Tk 142,265 per bhori (11.66 grams), effective from tomorrow. This hike follows a steady upward trend in gold prices, with the previous price of each bhori at Tk 139,443.

JCX Developments Limited and City Bank PLC have signed a Memorandum of Understanding (MoU) to provide home financing solutions for JCX customers. The agreement reflects a shared commitment to facilitating seamless property ownership.

BRAC Bank has set up a booth at the NBR Office in Dhaka for "Income Tax Information—Service Month 2024" to simplify tax payments. The booth facilitates automated challan-based transactions, allowing taxpayers to pay via cash or digital channels for a smoother experience.

Trust Bank PLC has partnered with Tropical Homes Limited to offer home loan facilities for customers of both organizations. Md. Mahboob Hossain, SEVP of Trust Bank's Business Division, and M. Hoque Faishal, Director of Marketing, Sales, CSD, CRD & Land at Tropical Homes, signed the agreement on behalf of their respective organizations.