A four-day housing and real estate fair will begin in Chittagong tomorrow, aiming to bridge the gap between buyers and developers.
Housing and Public Works Minister Mosharraf Hossain will inaugurate 'REHAB Chittagong Fair 2017' at Radisson Blu Chittagong Bay View, REHAB leaders said at a press meet yesterday.
They said the sector would gain some momentum this year for a decision to give bank loans to government officials at an interest rate of 5 percent.
REHAB Vice President Abdul Kauiam Chowdhury, also chairman of the REHAB Chittagong regional committee, said the country's real estate sector began to make a comeback since last year for a fall in the interest rate as well as the government's decision to provide loans to expatriates.
The sale of ready flats rose 30 percent in 2016 from the previous year, and it would increase further, he added.
There are around 500 unsold ready flats in Chittagong at present, he said. The REHAB leader urged the government to consider their demand to bring down the cost of registration as well as the tax and VAT to help revitalise the sector.
A total of 72 real estate firms, 10 construction material firms and eight financial institutions would display their products and services at 90 stalls at the fair.
Twenty-two real estate firms are co-sponsoring the show while the entry fee has been fixed at Tk 50 for a single entry and Tk 100 for multiple entries. The fund collected from ticket sales would be given to charity.