Infrastructure plays a key role in the progress of a society, as it makes the way for beneficial property investment in Bangladesh, strategic trade, and creates numerous job sectors.
Powerful roads, bridges, proper drainage systems, and adequate power supply are not just conveniences; they’re key players for urban expansion and overall growth of a country. In light of our discussion, without proper infrastructure, real estate projects are undervalued.
Let us talk about why infrastructure growth is key to real estate development in Bangladesh, and why you should care about it.
What Does The Present Infrastructure Landscape Look Like in Bangladesh?
At present, the infrastructure landscape in Bangladesh has made significant strides. With multi-million dollar projects such as the Dhaka Metro Rail, Elevated Expressway, and the Padma Bridge, the people of Bangladesh have experienced a major transformation in accessibility.
While these developments upgraded convenience, they’re also major contributors to attracting investors and developers. A real estate developer company in Bangladesh can now see the long-term growth potential in newly connected regions and areas.
However, a lot of this depends on the pace. Yes, huge progress has been made in major cities like Dhaka and Chittagong; other places like Khulna and Rajshahi are still catching up. Even though striking the right balance is tricky at this time, aiming to stabilise the expansion is important if real estate needs to be evenly spread across the country. And Bangladesh can certainly achieve that.
Transportation: The Foundation of Real Estate Expansion
Efficient networks of transportation greatly increase the value of property and attract both commercial and residential projects. Whether you’re looking for a commercial place in Chittagong or want to buy an apartment in Dhaka, you will search in areas with easy accessibility.
Let’s take a quick look,
- Roads and Highways: Areas near major roads, highways, and/or expressways, like the Elevated Expressway, experience faster and higher land appreciation.
- Public Transit: The Dhaka Metro Rail has boosted property demand and value around its stations in Uttara, Agargaon, and Mirpur.
- Bridges and Flyovers: Projects like the Padma Bridge have opened up new real estate opportunities in the southern regions of Bangladesh and parts of India. This significantly reduced travel time and boosted regional connectivity across Bangladesh and beyond.
Improving transportation opportunities and newer possibilities not only connect different areas, but also unlock new ones for investment and trade. This solidifies mobility as a strong driving force behind the real estate market of Bangladesh and its future.
Utilities: The Backbone of Living
Reliable access to necessities such as clean water, gas and electricity is a main factor influencing the growth in Bangladesh’s real estate. Development in areas that have stable and reliable utility connections is naturally far more appealing to buyers looking for an apartment for sale in Dhaka, and investors alike.
In many emerging neighbourhoods, insufficient power supply and/or unclean water supply can significantly reduce property values and depreciate them. On the other hand, government initiatives like the Power Division’s rural electrification program and DPDC’s modernisation of Dhaka’s power grid have improved access and utility, helping new communities thrive.
Even if Dhaka and the broader Bangladesh’s use of solar panels and other eco-friendly solutions are low, combining them with reliable infrastructure has a lot of potential in the long run. The need for more affordable, sustainable development in Bangladesh.
Urban Planning and Smart City Projects
Rapid urbanisation and smart city projects in Bangladesh are more important and robust than ever. As cities like Dhaka, Chittagong, and Sylhet continue to expand, unplanned growth can be an instant nail in the coffin for progress. This inefficiency can lead to congestion, poor drainage, and even worse living standards.
This is where planned urbanisations that strike the perfect balance between efficiency and sustainability become paramount.
Bangladesh has already made huge progress with projects such as the Purbachal New Town and Jolshiri Abashon Project, proving how a smart and strategic plan can make way for resilient communities. These developments combine residential, commercial, and recreational places with reliable utilities and accessible transportation routes. A reputable real estate company in Bangladesh can help fill any gaps that can restrict progress.
In the end, you have a better quality of life and attract both local and foreign investments.
Economic and Social Impact
There’s no doubt that the growth of infrastructure influences more than just real estate. It prompts economic and social development across Bangladesh. Better roads, bridges, and ports give way to new businesses, create new employment opportunities, and boost trade efficiency. These developments attract various types of industries and investors, which then spikes demand in houses in nearby areas.
Better connectivity also improves access to education, healthcare, and markets, making the quality of life better. Regions with strong infrastructure experience faster urbanisation and naturally, higher values of property. This is how the link between development and economic progress is strengthened.
Government Policies and Incentives
Government policies and incentives unquestionably play a huge role in the infrastructure growth in real estate development in Bangladesh. The National Housing Policy, put in effect in 2016, aims to make housing more affordable by changing rules for land-use and lowering costs for middle to low-income buyers.
Other policies include the government’s efforts to cut registration fees, stamp duties, and offer tax breaks to first-time buyers. Large real estate projects like the Purbachal New Town are a great example of planned infrastructure that supports new developments.
Public-private partnerships (PPPs) are also being promoted, allowing private developers to collaborate with the government. These collaborations are mainly centred on housing development in Bangladesh and infrastructure growth.
These policies not only create new opportunities for investments but also ensure that real estate growth is aligned with the overall development of the Bangladeshi economy and society.
Now, whether these policies are effectively implemented is another story.
What Role Do Private Developers Play?
Building on the economic and social benefits of infrastructure, a private or real estate developer in Bangladesh plays a key role in turning these improvements into actual growth. As new roads, bridges, and utilities turn up, developers have the chance to create residential and commercial properties that meet demand. They not only provide housing, but also contribute to local services, amenities, and jobs.
Reputable developers have pioneered modern housing communities with schools, shopping malls, and other forms of recreational spaces. While most projects prioritise speed and profit over sustainability, some developers actually utilise eco-friendly designs and energy-efficient solutions.
What Are The Challenges in Infrastructure and Real Estate Integration in Bangladesh?
While there is notable and significant progress in the infrastructure landscape in Bangladesh, there are a myriad of challenges. These challenges hold back further progress overall, halting new developments and opportunities from being born in the real estate scenario as well.
Whether it’s frequent political instabilities or the general attitude in major administrative sectors, such issues can create even bigger ones and diminish new possibilities.
Let’s look at the challenges in infrastructure and real estate integration,
- Bureaucratic Delays: A common issue in all sectors of Bangladesh, bureaucratic delays in project approvals often slow down construction, frustrating and upsetting both developers and investors.
- Land Acquisition Delays: Another huge obstacle, especially in densely populated areas, these delays are common in regions where legal disputes can stall projects for years.
- Inconsistent Regional Development: Seen in largely developed cities like Dhaka and Chittagong, uneven development leaves secondary towns underdeveloped. This also limits real estate growth all over the country.
- Limited Use of Eco-Friendly and Sustainable Solutions: The fact that Bangladesh hasn’t largely adopted sustainable solutions poses long-term challenges. Construction projects still fail to consider environmental issues and prioritise cost and speed instead. More public awareness about sustainability can help overcome this serious challenge.
Coming to practical solutions with better supervision and strategic partnerships between the public and private sectors is crucial for infrastructure growth in Bangladesh.
Environmental and Social Considerations
As the cities of Bangladesh continue to grow and expand, it becomes increasingly important to include and prioritise environmental and social planning in real estate projects. With the country, particularly Dhaka, ranking top as the most polluted, it is high time to be conscious.
Here’s how becoming more aware of the environment can help at large with infrastructure and real estate
- Green spaces and parks help maintain livable communities and increase property value.
- Flood control and effective drainage systems are critical in low-lying, flood-prone areas.
- Access to social facilities such as schools, healthcare, and community centres supports the long-term needs of the residents.
- Eco-friendly solutions such as energy-efficient construction, rainwater harvesting, and solar utilities are slowly but gradually being adopted.
Balancing infrastructure growth with the welfare of the environment and community makes real estate both profitable and sustainable for the future of Bangladesh.
Key Takeaways
The growth of infrastructure isn’t just a support system; it drives real estate development in Bangladesh. New bridges, highways, transportation upgrades, and smart city projects in Bangladesh are opening up opportunities for investors and developers alike.
As cities expand and connectivity improves, areas and regions that were once hard to reach have now become suitable locations for new locations for commercial and residential projects. This trend proves that infrastructure and real estate growth go hand-in-hand and are invaluable.
Disclaimer: This article is for general information only. Please contact a real estate expert before making any property decisions.
