United News of Bangladesh

Shahjalal Khan, a retired school headmaster from the bustling Mohammadpur neighbourhood, had long cherished the dream of securing a modest apartment in Dhaka—a peaceful corner to call his own after decades of service to the nation’s youth. His wife, Rayea Akter, also on the cusp of retirement, shares the same aspiration. But despite their combined savings of Tk75 lakh—accumulated over years of dedication—the dream now seems distant, even elusive. “After the change in government, I no longer feel confident withdrawing our savings to purchase a flat,” Shahjalal told UNB. “My pension, our combined earnings—it all adds up, yet it still falls short. And the registration fees add another 15 percent. It’s simply out of reach," he said. Like many others in Bangladesh’s middle class, Shahjalal finds himself paralysed by economic uncertainty and political instability. The couple, once hopeful, now hesitate to act—fearful of what the future might hold. Stifled Growth in the Face of Crisis The housing sector—once a cornerstone of urban development—is now faltering under the weight of multifaceted challenges. The recent political transition, coupled with an interim government, a rise in construction costs, and unresolved issues surrounding the Detailed Area Plan (DAP), has plunged the real estate industry into a prolonged slump. Besides, the silence from the authorities regarding the continuation of the provision allowing investment of undisclosed income in housing—by paying a 15 percent tax—has cast a shadow over the sector’s short-term future. Buyers and investors, uncertain and wary, are choosing to wait. Hope in Numbers, Not on the Ground Yet amid the turbulence, global projections paint a more hopeful picture. According to market research firm Statista Market Insights, Bangladesh’s housing market is projected to reach US$2.75 trillion by the end of 2025. With an anticipated annual growth rate of 1.99 percent, the market is expected to expand to US$3.07 trillion by 2029. DAP stalling housing sector, threatening economy: REHAB The residential segment alone is forecasted to hit US$2.07 trillion in 2025, climbing to US$2.21 trillion by 2029 at a steady CAGR of 1.63 percent. While China is poised to dominate the global real estate landscape with an astronomical US$115.4 trillion in 2025, Bangladesh’s sector is seen as steadily rising—driven by urbanisation and population growth. Flat Sales in Free Fall Md. Rasel Mukul, Assistant General Manager (Sales & Marketing) at Basic Builders Ltd, offered a sobering reality: flat sales have plummeted—down by 40 percent among middle-income buyers and by as much as 70 percent among the affluent. “Flat bookings have dropped drastically. Even the sale of plots has dwindled,” he told UNB, reflecting the despair of countless small and medium-scale developers struggling to stay afloat. Adding to the crisis is a steep hike in raw material costs. “There are 280 types of materials needed to construct a flat. Prices of some key items, like rods and cement, have soared by 25 percent due to inflation and land costs in DAP-affected areas,” explained Dawn Shahenul Kabir, Director (Construction), Eastern Housing. This cascading cost inflation has effectively halted many new projects, while private home construction has stagnated. The ripple effect is being felt across the supply chain, with plummeting demand for core materials. For the past five months, the flat market has remained frozen, prompting some developers to sell units below cost just to stay solvent. Many are struggling to cover operational expenses—paying staff salaries, managing office overheads—and praying for a turnaround if the economic tide turns. One managing director from a midrange real estate company, requesting anonymity, shared that over 200 flats in their 30-plus projects across Dhaka remain unsold. Prices vary: in Banasree, flats go for Tk5,500–6,000 per square foot; in Bashundhara, Tk7,000–8,500; and in Jalsiri Housing, Tk9,000–9,500. These units range from 1,300 to 2,850 square feet. “Sales in 2025 are already down by 20 percent compared to last year,” said Shahjahan Raihan, Chief Operating Officer of Sheltech (Pvt.) Limited. “Customers are simply not ready to invest amidst the prevailing political and economic uncertainty.” REHAB Blames the DAP: A Sector Under Siege The Real Estate and Housing Association of Bangladesh (REHAB) is sounding the alarm. “After the change in government, many of the key investors—businessmen, bureaucrats, even politicians—have gone quiet,” said Liakat Ali Bhuiyan, REHAB’s senior vice president. “The window to invest undeclared money has closed, cutting off a major flow of capital into the sector," he said. Bangladesh signs $289.52 million loan agreement with IsDB for housing finance project At the heart of the controversy is the Detailed Area Plan (DAP), a blueprint designed by RAJUK to reshape Dhaka into a more liveable city. Enforced since August 2023, the plan has sparked intense debate. Developers argue that the new zoning laws are discriminatory and have crippled the industry. “This DAP is nothing short of a death trap,” Liakat warned. “If not amended, the very industry that fuels employment across the nation is at risk of collapse," he said. A Tug of War Over Dhaka’s Skyline A RAJUK official, preferring anonymity, confirmed that a revised version of the DAP is nearing finalisation and will soon be gazetted following ministerial approval. While REHAB welcomes the revision, urban planners express grave concern. They allege the government is capitulating to business interests at the expense of public welfare. The most contentious changes involve a relaxation of the Floor Area Ratio (FAR), allowing buildings to rise higher than before: Mirpur: from 5 to 7 storeys Uttara Phase III: from 6 to 10 storeys Mohammadpur: from 5 to 7 storeys Bashundhara: from 6 to 8 storeys Gulshan-Banani: from 11 to 12 storeys Besides, water bodies will be categorised solely as such—prohibiting any filling—and agricultural land will be distinctly marked and protected without sub-classifications. Urban Planners Cry Foul Mohammad Fazle Reza Suman, former president of the Bangladesh Institute of Planners (BIP), did not mince words. More than 6,000 abandoned houses are in Dhaka city: Housing Minister “No consultation was held with urban planners or city residents before increasing building heights,” he said. “The authorities are bending to the will of vested interests, sacrificing Dhaka’s livability.” He warned that RAJUK’s apparent vision to turn Dhaka into a city of endless high-rises defies environmental logic and social equity. “If the DAP and building codes must be amended, it should be through a transparent, consultative process. We’ve seen how height regulations were loosened in 2007 and 2008, then reined in again in 2022. Now, further loosening will only intensify population density and overburden the city’s fragile infrastructure,” he added. A City Caught Between Growth and Gridlock As the nation’s real estate sector hangs in limbo, torn between ambition and reality, the future of Dhaka’s urban landscape remains uncertain. Will the city rise, resilient and reimagined? Or will it collapse under the weight of its contradictions—soaring towers above, and faltering trust below?

BNP Senior Joint Secretary General Ruhul Kabir Rizvi on Friday criticised the government for its failure to control the soaring prices of essential goods and provide relief to the general public. “If the prices of potatoes remain between 70 to 75 taka per kilogramme, the public’s trust in the interim government will continue to erode,” he said. Speaking at a rally, he questioned why the government has not taken action against the companies that control the prices of essential items such as eggs and oil. “Why aren’t you taking action against the market syndicates? Why are the prices of eggs still soaring? Why are the prices of soybean oil still exorbitant?” BNP’s Alal demands return of Khaleda’s cantonment house He said the condition of low-income people, such as farmers, rickshaw-pullers, and CNG-run auto-rickshaw drivers, has not improved even after the mass uprising. “People were expecting to see some relief, but if they don’t get that, the democratic spirit, the sacrifices, the bloodshed, and the many lives lost will have all been in vain,” the BNP leader bemoaned. He criticised some advisers for making reckless statements and acting as per their whims while ordinary people continue to suffer. “This cannot be allowed to continue.” “A revolutionary government’s advisers must themselves be revolutionary, with a dynamic mindset. Individuals disconnected from the people can never work for the benefit of the masses,” Rizvi observed. Bangladesh now faces new challenges: Shama Obaed The rally was organised by general rickshaw-pullers in front of BNP’s Nayapaltan Central Office, protesting the killings of their fellow drivers during the student-led mass uprising. Rizvi urged the interim government to take responsibility for the families of the victims, as well as for those injured and maimed during the July-August revolution. Referring to his recent visit to the National Institute of Traumatology and Orthopaedic Rehabilitation (NITOR), he said, “I saw many people still crying for help in the hospital, having lost their hands, legs, and eyesight. Won’t the state take responsibility for them? The state must take responsibility.”

BNP on Monday warned that the country is going to face an acute crisis due to shortage of food and soaring prices of daily essentials. “The entire nation is passing their days amid serious anxiety. Bangladesh will plunge into serious crisis,” said BNP senior Joint Secretary General Ruhul Kabir Rizvi. Speaking at a press conference at BNP’s Nayapaltan central office he also expressed concern that Bangladesh is moving towards ‘bankruptcy’. Also read:  Bangladesh on verge of collapse like Sri Lanka: Fakhrul “The situation in Bangladesh can be more critical than in Sri Lanka. The people of the country won’t even find peace by crying silently amid a dire economic situation,” the BNP leader said. He also said the condition of the people in the country is miserable as the prices of daily necessities are going up very quickly. “Wheat can’t be imported as the major countries have stopped its export. It will be impossible for ordinary people to buy flour after some days amid the abnormal rise in rice prices and the disappearance of soybean oil,” Rizvi said. He slammed the government for what he said its failure to stop the price hikes in daily essentials due to the foul play of business syndicates. Also read: Publish the list of Money launderers, BNP asks govt “Bangladesh is in a deep crisis of all kinds of food products. The paddy fields in a large area of Bangladesh have gone under water caused by onrush of water from the upstream and the damage of different dams, leaving farmers in a miserable situation,” the BNP leader observed.

Fixed income group and lower middle class people are struggling to cope with soaring prices of edible oil, rice, flour, eggs, onions, sugar, lentils, meat and fish. Though the Directorate of National Consumers Right Protection (DNCRP) is focusing on controlling the price of edible oil, other commodities are selling at a higher price. Without any valid reason prices of these are being hiked twice in a week, said advocate Humayun Kabir Bhuiyan, General Secretary, Consumers Association of Bangladesh (CAB). “Soybean prices are being discussed and criticized across the country for various reasons such as shortage of supply, stockpiling, manipulation of mill owners, high profitability of sellers. The government should work to monitor and make decisions on the situation on the ground,” he told UNB. The reality is not just edible oil, prices of all products are going up, he said. Also read: Govt doing its best to rein in prices of essential commodities: PM The non-governmental organization Consumers Forum (CF) has analyzed the wholesale market from January to March this year.

Jatiya Party Chairman GM Quader on Saturday voiced concern that the country’s people are struggling hard to cope with the skyrocketing prices of daily essentials. “People are in miseries. The government has raised the prices of fuel oil and gas, showing lame excuses,” he said. Speaking at a programme at Jatiya Party Chairman’s Banani office, Quader said the transportation cost has gone up due to the rise in fuel prices. “The prices of daily essentials are being raised by leaps and bounds on the pretext of increased costs of transportation and production,” he observed. Also read: People want a change in politics: GM Quader Quader, also the deputy opposition leader in parliament, said the spending of people are only increasing every day but not their incomes. “People are now struggling to make ends meet for lack of money.” He also said many people are also unable to receive necessary treatment for want of money. "The number of unemployed people is increasing, but there are no job opportunities for them.” The Jatiya Party chairman said people want to get rid of the current situation of the country. He alleged that both the Awami League and BNP have shattered the country's economy and market system, and it started in 1991. “People no longer trust Awami League and BNP. They want to see Jatiya Party in power as an alternative force,” GM Quader observed. He urged the leaders and activists of Jatiya Party to get more organised to fulfill the hopes and aspirations of people. “Jatiya Party will never back track from the movement for the protection of people’s rights. Establishing human rights is our politics.” Also read: AL turned Bangladesh into 'hell': BNP Noted businessman Mesbah Uddin Jiban Chowdhury joined the Jatiya Party by presenting a bouquet to GM Quader at the programme. The Jatiya Party chief welcomed Mesbah and asked him to work for strengthening the party.

The overheated kitchen markets in Dhaka left the middle class and marginal income groups of people gasping even in the winter season. “We’re now in the middle of winter. The prices of key vegetables should have gone down by the time, but the prices are on fire,” said Shamim Gowher, a businessman.     After visiting various kitchen markets, the UNB Correspondent found that the retailers were selling popular vegetables at Tk 50 to Tk 90 per kg claiming that there was a short supply in major wholesale markets. But the wholesalers claimed that the retailers are charging higher prices for vegetables for no reason. According to his market investigation, the price of broiler chicken has shot up to Tk 200 a kg, pinching the pockets of commoners already battered by the surging prices of other essentials like rice, edible oil, sugar and pulses. Visiting some wholesale kitchen markets, the correspondent observed that the winter vegetables are selling at 20 percent to 30 percent higher prices based on quality this year compared to that of the previous year. The price variation of vegetables also is based on areas like Gulshan, Banani and Hatirpool. The prices of vegetables at Karwan Bazar, Mohammadpur Krishi Market, Mirpur, Khilgaon, Fakirapool and Motijheel are almost similar. Read:Spectre of panic buying returns to kitchen markets ahead of lockdown