The Real Estate and Housing Association of Bangladesh (REHAB) has sought a Tk3,000 crore special fund from Bangladesh Bank to help the housing sector cope with the impact of the ongoing Middle East crisis and continue construction activities.
REHAB President Wahiduzzaman shared the information with journalists after a meeting with Bangladesh Bank Governor Mostaqur Rahman today (10 March).
He said the ongoing conflict between Iran and Israel has created global economic uncertainty, which is also affecting the housing sector in Bangladesh.
“To keep the sector operational amid this situation, a special fund is necessary. We have therefore requested Bangladesh Bank to provide a Tk3,000 crore support fund. The governor listened attentively to the proposal and gave a positive assurance,” he said.
The REHAB president also urged the central bank to bring down home loan interest rates to a single digit, saying affordable housing finance is essential to meet people’s basic needs.
“Food, clothing and shelter are basic human necessities. Low-interest housing loans are crucial for people to meet their housing needs. However, due to the high interest rates on home loans, many people now find it difficult to buy homes,” he added.
The association also placed several additional proposals during the meeting. These include providing special financing facilities for green buildings, solar power and environment-friendly construction, ensuring financing for housing projects in district and upazila towns and offering low-interest housing loans in those areas to reduce pressure on Dhaka.
According to REHAB, the housing and construction sector has been listed as an unproductive sector in a list provided by the Bangladesh Bank.
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