The Real Estate and Housing Association of Bangladesh (REHAB) fears that huge money might be siphoned off abroad following a foreign company's call through recent newspaper advertisements to buy apartments in Dubai, reports UNB. Such an illegal campaign will only encourage siphoning off money abroad at a time when the country's housing sector is in bad shape it' s an ominous sign for the country's real estate sector, the apex body of the real estate sector said in a statement. Mentioning the Foreign Exchange Regulation Act 1947, the REHAB said there is no scope to buy apartments abroad. EHAB expects proper steps from the ministry concerned in this regard.
Real Estate and Housing Association of Bangladesh (REHAB) has teamed up with the National Housing Authority (NHA) to work for development of the government's housing sector. This was disclosed when leaders of REHAB held the association's first meeting with NHA Chairman Shahidul Alam at the housing authority here. Among others, Vice-President Liakat Ali Bhuiyan, General Secretary M Wahiduzzaman, Organizing Secretary Shahidul Islam Badol and executive members architect Mohammad Al Amin and engineer Shafique Rahman attended the meeting, says a press release.