Momen Real Estates Ltd. has been in the real estate market for a while building a successful national company. The company’s founders have been actively involved in property development since 1987. After completing a few projects with business partners, they founded their own private business house, MRS Properties Ltd., as a family-owned private company in 1995. In 2001, the business was renamed as Momen Real Estates Ltd.
Making sure of “shelter” is one of the basic requirements, and via real estate, they may encounter this moral imperative, which has also led to expectations for millions, whether in terms of housing or job creation. Undoubtedly, the overall need for apartments and houses prompted them to enter this market. “The time and effort we put into our investments are key success elements that set us apart from other investors. The result are good sites, prompt delivery, and high-quality work,” said Md. Shariful Islam Rahid, Chief Operating Officer (COO) of Momen Real Estates Ltd. The company’s Chairman, Brig. Gen. AHM Abdul Momen (Rtd.), founded and served as President of REHAB before founding the firm in 1987. Its Managing Director, Ahmed Riad Momen, is an architect. Another director has expertise in banking, while a fourth director has a background in marketing and finance. Although they also engage outside consultants, the firm currently possesses the most in-house technical resources needed in this industry.
They approach to design by considering a variety of factors, including cost, space, energy use, building materials, features, and zoning regulations like wind speed, seismic zones, and height restrictions. They also approach to design with the long term in mind taking into account where natural light enters and exits an architecture. How big they want the plot to be overall, and how they will divide up the spaces between the various rooms in the house, is always the main focus. The detailing also includes obtaining insulation against heat and cold, reflecting surfaces to provide the impression of a larger room, and many more.
The technical team tries to design with the timeframe in mind, both in the office and on the work sites. The technical experts at the locations, working with those in the office, ensure that the right materials are received and used. Construction projects are of high quality because of this joint coordination. Regarding the architectural plans, aesthetics, and practical needs of the flat, changes in the requirements of prospective clients are continuously monitored and adjusted.
We’ve consistently focused on enhancing the performance and quality of our products. Customers are therefore treated with a significant lot of satisfaction Seldom are outside experts brought in, depending on the plot’s value and location, as well as to conduct tests on new ideas and avoid the internal architectural department’s repetitive designs. Almost 90% of their new prospects are referred by existing clients. They have adopted a customer-friendly policy in response to complaints of client criticism. MREL sees its services as the key conduit connecting its products and clients. “We’ve consistently focused on enhancing the performance and quality of our products. Customers are therefore treated with a significant lot of satisfaction,” added Mr. Islam.
Presently, our nation needs 5-6 lakh housing units every year. The demand may continue to grow over the next 20 years. These days, Dhaka needs to build 50,000 new homes each year to accommodate its expanding population. Yet there are now just 20,000 units available annually. As a result, there is a sizable backlog that is expanding annually. The price of real estate in Bangladesh increased as a result of the rise in the price of raw materials. Because of the global financial crisis, it is becoming increasingly difficult to import the raw materials needed to make steel, cement, and other building materials, which is seriously impacting the construction sector and all of its supporting industries. A 30% price rise in apartments was eventually brought on by the additional raw material price increase, which also prevented the construction of nearly 50% of the apartments scheduled to be sold in 2022 and 2023.
The DAP (Detailed Area Plan 2022–2035) may also have a considerable impact on property values, affecting both homebuyers and businesses. Also, this implies that developers won’t be able to profit as much from the sale of units as they formerly could.
In the near future, Momen Real Estates Ltd plans to construct several condominiums in and near the city, on larger plots of land, with impressive numbers of multi-story buildings and all necessary public amenities, including expansive walkways, greenery, mosques, community centres, gyms, superstores, parks, playgrounds, a deep tube welling system, LPG reticulated systems, and many others. Some 55% of the land will be left open for greenery. The goal is to draw in individuals with lower incomes by giving extended installments, bank loans with long repayment terms, affordable pricing, etc.
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