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Bangladesh Real Estate Boom: What We Are Expected to See in Next 10 Years
"Bangladesh is Growing"; this statement is not new to the international media but when Bangladesh becomes the fastest poverty reducer in the world, you won't hear it in media as you hear when a building collapse. Bangladesh is one of the fastest growing economy and rapidly developing country in the world. In fact, In terms of Social and Economic Growth, This youngest country of South Asia have outpaced neighbor like India and Pakistan.
As we all know, High Rises are an indication of Economic Growth and That's exactly what's happening in Bangladesh right now. High Rises everywhere, But as there are some advantages of it, there is also some disadvantages. From what I Think, These are some of what we will see in next 10 years:
- Dhaka will become an almost inhabitable city with lots of high rises (and not skyscrapers); because most real estate companies are building 15-20 storied buildings without any kind of planning when Dhaka has become a city where Skyscrapers are necessary to keep the huge population (almost 20mn) under control.
- Chittagong will become the most developed city of Bangladesh, mainly because of proper planning and implementation. Most under construction Buildings in Chittagong will be 30-40 storied, which will save more space and make the city look more clean and attractive.
- Cox's Bazaar will become a huge tourist attraction if Government can make good use of it. More than 50 Hotels (10-15 International Chains); mostly 4 and 5 star, are under construction.
- Sylhet will become the most naturally rich city of Bangladesh, The city won't necessarily be filled with skyscrapers but attractive architecture and nature will make Sylhet the richest city of Bangladesh
- Real State Developers will move their projects to Rajshahi, Khulna and Barisal
Dhaka is under red alert, because the city has almost become inhabitable. The Biggest Mistake developers are making is construction a huge quantity of buildings but lacks quality. A 40 Storied Building takes up a way lesser area than Five 8 Storied Buildings and as soon as they understand that, it will be better for everyone. Dhaka also face a huge traffic jam, no matter how many flyover government build or how many new roads they construct, they will continue to face the problem. There is only one solution to all problems in Dhaka: Majority of the low class population came from rural areas and now lives in slum, The government must take action to send them back to the rural areas of Bangladesh. By doing that, The unemployment rate will go down, agriculture industry will go up and Dhaka will become much cleaner and much more developed.
Chittagong is yet to become a mega city, but unlike Dhaka; once it does, It will become a very good one. We will see Chittagong turning into a international city in next 10 years. Chittagong will be a clean, well planned city, Thanks to the sensible real estate developers who avoided the mistakes they made in Dhaka. Chittagong will have the best skyline in Bangladesh, Let's hope the Dhaka population don't move to Chittagong and turn Chittagong a slum district.
Cox's Bazzar is also under Chittagong Division
During Vacation, Sylhet is always our favorite destination because of it's beauty and world class resorts. Sylhet is probably the only place in Bangladesh that protected it's beauty. Sylhet is the tourism engine of Bangladesh and also have world class resorts like Grand Sultan, Dusai and Nazimgarh Resort and more under construction. Sylhet will have both natural and commercial side.