Rupayan leans towards building more green apartments, as its demand is going up in the country. But, higher construction material prices and apartment registration costs make a challenge for realtors, CEO of Rupayan Housing Estate Ltd.
Md Alinur Rahman told Ceramic Bangladesh (CB) in an exclusive interview. Bangladesh’s real estate sector, Md Alinur Rahman said, has boomed in recent years but today it’s going through a challenging situation due to a variety of issues. The sector has earlier flourished, thanks to the self-motivated venture of Developers and realtors.
Since housing is a basic need of people, the entrepreneur said, “we lean to taking big projects on huge pieces of land to build accommodations for more people.” Despite the sector’s huge contribution to the gross domestic product (GDP), we don’t get a business-friendly policy or support from the regulatory authorities, he said in an interview. “I believe if the government and other authorities concerned are caring about the sector, it would be the best booming sector in the country.” The Rupayan Housing’s journey of 24 years has been glorious and through this journey, he said, “we have fulfilled the dreams of a lot of people by building apartments and implementing commercial projects” in the country. “We build strong and quality buildings. We have a strong and innovative culture and we maintain the aesthetic design through our creation.” Mr. Alinur Rahman added, “We are such a developer who lead from the front. We’ve created the country’s first township project (Rupayan Town) in Narayangonj and one of the biggest and first premium mega-gated community projects (Rupayan City Uttara) in Uttara in Dhaka.”
Rupayan Housing’s strengths are said to be unique products, excellent efficiency, and productivity. It is a customer-centric organisation, he pointed out. “Our services create raving fan customers. We can scale sustainably and have high adaptability. We continuously work on the diversification of products and services. We are also blessed to have robust and decisive leadership.” He said their ongoing projects are in Motijheel, Naya Paltan, Mirpur-1, Tejgaon, West Dhanmondi, South Badda, Bashundhara R/A, Mirpur DOHS, and Savar in Dhaka, Sylhet, Kanchpur, Cumilla, Chattogram, and Narayanganj. “We look forward to creating more so that the Rupayan group continues to create history in the Bangladesh real estate sector,” he said. The foundation work of its green paradise in West Dhanmondi on 102 Katha would start soon. “Our first satellite town at Narayanganj will be environment-friendly.” Now both job holders and businesses are going through a challenging moment. So, apartments between 1500 and 2000 square feet are of higher demand. In such a situation, Rupayan brings to the market apartments worth Tk1.5 crore to Tk2.5 crore. Buyers had once used to look for just an apartment, but nowadays their test has changed, thanks to increased income and change in lifestyle and they want wellness, communities and condominium apartments, he said.
Clients want multiple facilities together for their family members in the apartments. They want such an environment that kids and elderly people can enjoy together, he added. RHEL is a pioneer in Bangladesh providing condominiums, gated communities, and satellite towns. Considering social responsibility, “we always try to build environment-friendly housing where all aged people can be beneficiaries,” said Mr. Alinur Rahman. The Rupayan CEO mentioned that the green apartment concept came to Bangladesh about seven years ago. There are a lot of issues in green apartments such as water reusing issues, waste management, huge open space, a percentage of greenery, and soil quality. “We are seriously working to include such facilities in all our projects,” he said adding that several companies such as BTI, Sheltech, SEL, Concord, and Rangs Properties Ltd are doing it. Rupayan Swapno Niloy in the Siddheswari area of Dhaka was built as per green apartment concept. It is a high condominium project, he said. Besides, Rupayan Town in Narayanganj Bhuighar has huge open space and greenery. “Our ongoing project named Rupayan Lake Castle in the Bashundhara area will be a proper greenery building. And, Rupayan green paradise project in West Dhanmondi will be made into a natural pond.” He said, “We don’t think only financial issues before setting up a building. Our priority is to ensure a livable and quality building for our clients. As we build an apartment on our purchased land, we can provide it at a reasonable price.”
The entrepreneur pointed out that of the many challenges in the real estate sector, the key one is higher price of construction raw materials and apartment registration costs. He is also concerned about the reported plan to ensure apartment registration in a full-value system. “If it is implemented, the flat registration cost will go up from Tk8-10 lakh to Tk25-30 lakh for a Tk1.0 crore apartment. “The registration process should be at a minimum rate; otherwise buyers will suffer and that will be a new challenge for the sector.” Also, the construction area will be reduced by 30-35 percent due to the Detailed Area Plan (DAP) and in such a situation, developers will make buildings jointly with land owners, he said adding that in that case, the apartment prices may rise around 30 percent. So, he recommended amendment to the DAP. There are around 250 sub-industries in the real estate sector and he felt that all should work together to ensure that the sector flourishes. He also emphasized that they try to uphold the rights and privileges of the customers from the land process to apartment handover. “We are firmly committed to ensuring our clients’ rights.”
He recalled that once labours used to carry raw materials on their heads to cast the roof of a high-rise building but the trend has changed. “Now we use different type of modern machines in all our work, like foundation piling, and roof casting in buildings. We also use ready-mix concrete (RMC) to maintain qualitative value and speed up the work. The mechanism is also used in civil work, sanitary, and painting.” Now, most companies use machinery to construct their projects. The Rupayan CEO pointed out that they face a labour shortage in the industry, thanks to increased opportunities and due to unwillingness of many to work hard. “So, we have to take help of machinery.”
Many laborers who once came to cities from villages, nowadays try to work as a small entrepreneur or join other jobs, he said adding that the demand for modern machines in the construction sector increased also owing to high-rise buildings and for quick completion of projects. “We design our buildings by renowned architects of Bangladesh. So, we maintain 100 percent qualitative value in our projects,” he said. He also maintained that eco-friendly blocks are being used in modern construction as these are environment-friendly. It also is helpful in the building’s structural load being light. “We have already used the blocks in Rupayan Town. In the future, we will use more blocks in our projects.” He went on to say that the demand for secondary property is also high in the country for the middle and upper middle-income segment because it can be bought at reasonable prices. As 2-3 years’ time is needed to get a new apartment, people love to purchase ready and used apartments. “If clients decorate a used flat, he/she will get the flavour of the new apartment as well.” A sister concern of the Rupayan Group is Ratul Properties, which, he said, is the most trusted property solutions provider in Bangladesh. “Since our inception in 2006, we are committed to providing the best real estate services and experiences to our clients and partners.” “It’s a one-stop solution in the real estate marketplace, with our ‘buy, sell, and exchange’ offers. Clients can purchase an apartment from us by selling their land to us.” As there is a good demand for green apartments, “we lean towards doing it. We have a plan to build a green building in Purbachal, Dhaka, and Chattogram.” Afterwards, “we would build apartments in Dhaka and outside of the capital city, like Khulna, Sylhet, Cumilla, and Bogura. Our next mega cities will be 100 percent green building concept.” Written by Rafikul Islam
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