Ctg REHAB fair posts 55% fall in sales, bookings

The housing fair organised by the Real Estate and Housing Association of Bangladesh (REHAB) that ended in Chattogram today posted a 55 per cent year-on-year fall in sales and advanced bookings.

This year's four-day exhibition sold or bagged advanced bookings for flats or apartments worth Tk 108 crore, down from the target of Tk 150 crore and last year's total orders of Tk 238 crore.

The fair got bookings and sales of over 100 apartments and commercial spaces and some 10 plots, REHAB's Chattogram Regional Committee Chairman Md Abdul Kauiam Chowdhury told The Daily Star.

The Real Estate and Housing Association of Bangladesh (REHAB) has been organising the fair styled REHAB Chattogram Fair 2023 at Radisson Blu Chattogram Bay View.

Bangladesh's real estate sector is passing through tough times due to exorbitant price hike of construction materials caused by the far-reaching effects of the Russia-Ukraine war, said Chowdhury.

Around 10,500 people visited the fair this year that closed its doors at 7pm today, he said.

"We did not expect this many visitor amid the ongoing economic downturn."

The offers made at the fair by the participant firms would remain valid for the next seven days, he added.