The five-day 'Housing Fair' by the Real Estate and Housing Association of Bangladesh (REHAB) kicked off in the capital on Thursday to showcase plots, flats, commercial spaces and construction materials to interested customers.
Commerce Minister Tipu Munshi inaugurated the exhibition as the chief guest at Bangabandhu International Conference Center (BICC) in the city's Sher-e-Bangla Nagar.
Housing and Public Works Secretary Md Shahid Ullah Khandaker, Rajdhani Unnayan Kartripakkha (Rajuk) Chairman ABM Amin Ullah Nuri, Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) President Md Jashim Uddin, REHAB senior vice president Mohammad Sohail Rana, among others, also spoke at the programme.
Delivering his speech, the minister urged the realtors to be cautious so that the customers do not get cheated while buying a property.
"Many people fall victim to fraud while trying to fulfil their dreams of owning a real estate and even it has been heard that some people paid the money but didn't get the desired property," he said.
Mr Munshi said REHAB needs to play proactive role in preventing such incidents because people invest their hard-earned savings on a property.
Besides, referring to increasing pressure of people in Dhaka, he suggested that the realtors take housing projects in the suburbs of the capital city.
He also said if the Detailed Area Plan (DAP) is implemented, general people will also get affected apart from the land developers.
"You (REHAB members) shouldn't be worried because the committee concerned on DAP is very prudent and I hope they will take decision considering all aspects," added.
RAJUK Chairman urged REHAB members not to be tensed about the DAP because there will be comprehensive talks with all the stakeholders before implementation.
However, the REHAB senior vice president said the real estate sector will collapse if the DAP is implemented.
He said the prices of building materials like rod and cement have been increasing and if DAP is implemented, the prices of flats may go up by more than 50 per cent.
According to the organisers, the fair has around 220 stalls, including 15 for building materials and 13 for financial institutions.
On the first day, buyers and visitors were allowed to enter the fair from 2:00 pm while on the rest four days they can visit the fair from 10am to 9:00 pm.
There will be two categories of tickets for the fair-single-entry ticket for Tk 50 and a multiple-entry ticket for Tk100 which will allow a visitor to enter the fair five times.
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