Amid gloomy real estate business at home, listed developers are going to arrange the ‘REHAB Fair-2012’ in New York targeting the growing Bangladesh-origin second generation and retired groups in the USA. The three-day fair, organised by the Real Estate and Housing
Association of Bangladesh begins today that will help attract prospective Bangladesh-origin US citizens to buy apartments and plots back at home.
State minister for housing and public works Abdul Mannan Khan will inaugurate the fair as chief guest while REHAB president Nasrul Hamid will be present as special guest.
‘Mainly, through the fair, we want to make the real estate market vibrant here. The fair will encourage Bangladeshis to buy plots and flats in their homeland,’ REHAB general secretary Anisuzzaman Bhuiyan Rana told the news agency over phone on Friday.
He said the growing second generation Bangladeshis in the USA was apparently somewhat apathetic towards their homeland and some were even planning to buy flats in Dubai. ‘We just want to let them know about our products and convince them to shift their plan through the fair.’
The REHAB general secretary said the USA was home to over 8 lakh Bangladeshis turning it into a big market for the real estate sector.
Some 45 real estate companies are taking part in the fair, which is the ninth such event in New York, will be held at a venue close to Jackson Heights (Soundview Broadcasting). The organisers said the overall sales of flats dropped by 40 per cent over the last two years.
Shrinking bank loan for the clients, gas and electricity crises and uncertainty over political changeover are the three main reasons for the fall in demand, they said.
They said they would remain very strict so that no illegal and unapproved project gets any chance to be there on display in the fair.
-With UNB/New Age input