The stunning landscapes on the both sides of the country’s first-ever international standard expressway, Dhaka-Mawa-Bhanga Expressway, connecting the capital with the southwestern regions via Padma Bridge, has opened a new door to urbanisation, industry insiders said.
Housing projects are on the rise surrounding the 55-kilomitere expressway from Dhaka’s Keraniganj to Munsiganj’s Mawa. Industry insiders hope that once the Padma Bridge opens the housing industry will also boom on the other side of the Rive, from Jajira to Bhanga in the future.
Housing entrepreneurs said, with the construction of the Padma Bridge underway, people living in these areas have begun to earn more and it will continue to increase. With an income on the rise, people will invest in housing for sure in future, they added.
The Padma Bridge has created huge potential for the real estate industry, said Alamgir Shamsul Alamin, President of Real Estate and Housing Association of Bangladesh (REHAB).
“The potentiality for land development projects to build a beautiful and modern city is now a big dream and soon it will spread on the other side of the river too. In fact, new factories will rise on the both sides (of the bridge) due to the (new) connectivity, thus increasing accommodation demand,” he added.
He said the bridge will change the lives of people in the southern districts and increase their income.
“If the income increases, a market of housing industry will be created. Investment opportunities will also open up for those who think of long-term investment", he added.
On spot visits, Bangladesh Post found that a number of housing projects has been undertaken on the both sides of the expressway from the capital’s Babubazar to Mawa with real estate companies displaying their signboards.
The REHAB president suggested for buying land from only the renowned developers since many new companies are doing business by fooling people.
“Before investing in housing, check all necessary documents properly,” he advised.
Besides, the Padma Bridge also opens the investment opportunity for expatriate Bangladeshis, hailing from Louhjong and Sirajdikhan upazilas of Munshiganj due to a possible boom in housing industry.
Alamin, from Ekuria , old this correspondent that, "Price of a piece of land was Tk 2-3 lakh per Katha a couple of years ago, which now rose to Tk 15 lakh.
“Roadside land price is even higher. All thanks to the Padma Bridge,” he said.
Meantime, Keraniganj, a neighborhood of capital Dhaka, is turning to a model city thanks to the construction of the Padma Bridge with developers setting up new buildings.
Locals said both private and public organisations are building new establishments and high-rise buildings.
