Government is going to implement a housing project under public private partnership (PPP) on a five-acre of land in the city's Mirpur area.
According to an official document of the Housing and Public Works Ministry, obtained by UNB, this will be the first PPP project in housing sector to be implemented by the National Housing Authority (NHA) as a pilot project.
Sources said the NHA has moved to implement such project under PPP taking five acres of land from a total 165 acres allocated by the government in Mirpur area for housing projects.
Receiving an initial approval of the Cabinet Committee on Economic Affairs about the PPP project idea in 2010, the NHA first conducted a detailed feasibility study by a consultant to get an idea about the total useful space of the project.
The study found that the five acres of land can create a total of 1.4 million square feet of space for the project where residential space will be 1.2 million sq ft and commercial space will be 0.2 million sq ft, said the sources.
The sources mentioned that it was decided that once the project is implemented the NHA will be the owner of total 220,000 sq ft while the ownership of the remaining 1.18 million sq ft will go to the private partner of the project who will bear the whole implementation cost including its construction.
Of the NAH's 220,000 sq ft space, 30,000 will be allocated among the middle income group (MIG), 270,000 sq ft for lower income group (LIG) and remaining 20,000 sq ft for the commercial buyers of the space.
The entire space of the NHA will be sold out to the public through commercial basis.
Recently, the NHA floated tender to pick up a private partner of the PPP housing project providing the condition that the private partner has to create more than 270,000 sq ft of space for the lower income group (LIG) keeping the commercial and MIG space unchanged.
In the initial bidding five firms participated in the tender process and finally two of them came out to be responsive bidders. They are Tropical Homes Ltd and Mir Akhter Hossain Ltd.
In the second stage of the bidding, the Tropical Homes came out to be the most eligible private partner offering a space of 409,133 sq ft for LIG while Mir Akhter Hossain's offer was 319,550 sq ft.
Official sources said the NHA will sale per sq ft of LIG space at Tk 4,300, MIG space at Tk 5,200 per sq ft and commercial space at Tk 11,000 per sq ft.
Officials said the NHA has placed its proposal regarding the selection of the private partner to the Cabinet Committee on Economic Affairs for approval.
Once the Cabinet body approves the proposal, the selected firm will go ahead to implement the project, said the officials.
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