Nestled in the picturesque northeastern part of Bangladesh, Sylhet is not only famed for its lush green tea gardens and pristine natural beauty but also its booming real estate sector. The region has experienced an influx of investments from Non-Resident Bangladeshis (NRBs), particularly from the United Kingdom, which has significantly fuelled this growth. These investments are not only motivated by the desire for better housing but also by the prospects of lucrative returns on property investments.

Growing local economy

According to the report by the Bangladesh Bureau of Statistics, Sylhet has seen a consistent increase in domestic and international tourism, with visitor numbers growing by 15% annually.

Abdul Jabbar Jalil, Chairman of Ananda Tower, based in Sylhet says, "Whenever a tourist comes to Sylhet, at least four to five businesses get benefitted. Therefore, as locals, we always appreciate tourists coming to Sylhet and enriching the tourism sector."

"Thankfully, many tourists have visited Sylhet in recent years but I also think the government should make proper budget plans to keep the industry flourishing," he adds. 

This surge boosts demand for both short-term and long-term housing, including hotels and resorts, making the city a lucrative area for hospitality-focused real estate development.

Therefore, Sylhet's economy is on an upward trajectory, supported by its established tea industry and burgeoning sectors like tourism and education. The presence of leading educational institutions and resorts makes the city an educational and tourist hub in the region, increasing demand for residential and commercial real estate.

Strategic economic investment

The financial backbone of Sylhet's real estate sector is the robust investment from the Sylheti diaspora. "My entire family is based in the United Kingdom. They have made a significant investment over the years," informs Jalil.

This community contributes substantially through remittances and direct property investments. These funds are not only flowing into residential developments but also commercial and mixed-use projects that offer high returns on investment, thereby continuously fuelling the growth of the local real estate market.

The diversification of Sylhet's economy is a key factor in its real estate growth. Its strategic importance is bolstered by several key developments such as the Sylhet Osmani International Airport, which has seen a year-on-year increase of 20% in passenger traffic, according to the Civil Aviation Authority of Bangladesh, underscoring enhanced connectivity.

Moreover, government infrastructure projects have allocated significant investment to improve highways connecting Sylhet to Dhaka and Chittagong – aiming to reduce travel time and stimulate trade and logistics operations.

Natural and cultural allure

Sylhet is renowned for its rolling hills, lush tea gardens, and the serene beauty of places like Jaflong and Ratargul Swamp Forest. These natural attractions not only make Sylhet a popular tourist destination but also enhance its desirability as a place to live.

Moreover, Sylhet is geographically located close to the borders with India, making it a key point for cross-border trade and economic activity. The city's cultural heritage, characterised by a blend of local traditions and influences from its large diaspora, adds to its charm and uniqueness, creating a vibrant community atmosphere attractive to residents and tourists.

Looking forward: Growth and sustainability

The future of Sylhet's real estate sector lies in adopting a balanced approach that promotes economic growth while preserving the region's ecological and cultural heritage. Strategic planning, collaboration between the government and private developers, and community engagement are essential to create a sustainable urban environment that can continue to thrive economically and culturally.

As Sylhet continues to evolve, its real estate sector remains a pivotal area of development, reflective of both its past heritage and its future possibilities.