Commercial properties are those real estate, apartment, or land used for commercial purposes such as office, malls, hospitals with a view to making a profit instead of residential. Generally, these properties are being leased or rented to tenants by meeting all mandates.
Recently, Commercial property trends have increased in Dhaka due to economic growth and rapid urbanization. Trade and business have been keeping pace with customers’ demands and requirements like office space, retail, parking zone, security, logistics support and so on.
Huge demand for commercial properties has led to remarkable development in the infrastructure of this industry. By attracting diversity of commercial properties, many investors have been interested in investing in the sector. Therefore, understanding this trend is crucial for those considering investment in the dynamic industry.
Get insights into commercial property trends in Bangladesh in this article.
Contemporary scenario of commercial properties in Dhaka
Demand for the corporate office: In last couple of years, corporate offices, startups, e-commerce, restaurants, etc have risen in Dhaka, noteworthy; at the same time, demand for commercial apartments has increased simultaneously. Suitable office space, warehouse, megamalls and others at convenient rental or long-term lease are becoming popular day by day. Real estate agencies are focusing on commercial properties instead of residential apartments.
Foreign investment: Real estate industry of Bangladesh is trying to attract multinational agencies to invest in commercial properties. Japan City Garden and Tokyo Square in Mohammadpur a foreign-invested residential and commercial properties, respectively. The government has taken so many steps to engage foreign investors.
Rise of restaurant culture: Once, people went to a restaurant to have a meal only, but now it has turned into a place for chatting or meeting. Because of these new cultures, restaurants have grown here and there in Dhaka, Chattogram, and other cities. The world-famous restaurant chain also opened branches in Bangladesh. To accommodate restaurants, real estate companies have developed commercial properties to meet the requirements of tenants.
Increasing Health Centre: Being an overpopulated city, there is an insufficient number of health centres in Dhaka, which is noticed in the COVID-19 pandemic. Hospitals, clinics and health centers require a vast area and go for a long-term agreement with real estate companies.
Whatever, commercial properties are becoming a more profitable investment for real estate companies because of rising demand and long-term rental facilities. Real estate industry of Dhaka is going through a massive upliftment and has branched out so many wings. In a fast-growing urbanization, commercial properties will have more potential in the coming days.
