DAP must be reformed: REHAB president

The country’s real estate sector is facing growing challenges due to complex of impractical rules and regulations including the Detailed Area Plan (DAP), said Dr Ali Afzal, president of the Real Estate and Housing Association of Bangladesh (REHAB).

He called for necessary reforms and amendments to such regulations to ensure the sustainability of the housing industry.

He made the remarks at an exchange meeting of real estate businessmen organised by the Combined Real Estate Forum at Setara Convention Centre in Mirpur-12 on Monday.

Former REHAB president Md Abdul Awal and Senior Vice President Abdur Razzaq attended the meeting as special guests.

The meeting discussed the current state of the housing and real estate sector, challenges faced by businesses, the practical impacts of various regulations, including the DAP, and possible measures for reform.

Speakers said real estate businesses were currently facing multiple challenges, while various impractical regulations had made it increasingly difficult to operate in the sector.

They also noted that the housing industry has strong links with a large number of people and institutions, both directly and indirectly. As a result, the ongoing difficulties in the sector are also affecting the broader economy, they said.

The speakers stressed the need for greater coordination, unity and exchange of views among real estate entrepreneurs to keep the sector sustainable and dynamic.

Several developers took part in the discussion and shared their experiences and views on the existing challenges.

Md Shahidul Islam, president of the Mirpur Real Estate Forum, Md Ibrahim Sarkar, president of the Uttara Developer Forum, and Md Sakhawat Hossain, adviser to the South Developer Forum, also spoke at the programme.

A large number of real estate businessmen attended the meeting.

REHAB Vice President-2 Abu Khalid Mohammad Barkat Ullah, Vice President-3 AFM Obaidullah, Vice President for Finance Dr Md Harun-Or-Rashid and other members of the REHAB board of directors were also present.