30/11/2013
Demand for Commercial Land for Sale in Bangladesh is still pretty hot.
Multinational big companies are still looking for large tract of commercial and industrial land to set up manufacturing plants/ commercial projects. The following article is referenced here from couple year ago, credit goes to the original reporter of Daily Star. Now the demand of land has escalated much higher.
Korean giant plans to invest $1.25b
World's leading Technology giant Samsung sought to lease 500 industrial plots from the BEPZA to set up an electronics hub in Bangladesh with an investment of US$1.25 billion.
Managing director of the South Korean giant visited Dhaka last month and made the proposal to Bangladesh Export Processing Zones Authority, BEPZA officials told. The proposal is the biggest ever placed by an electronics firm to Bangladeshi authorities. The country's eight EPZs host 15 electronics ventures, but most of them are small and relatively unknown.
Samsung investment could reshape Bangladesh's future as a new manufacturing hub for mobile phones, high-end electrical, electronic and home appliance products. With a revenue worth $155 billion in 2010 Samsung is the world's largest electronics company. It also the largest memory chip maker and the second largest mobile phone manufacturer after Nokia.
BEPZA executive chairman Major General Shahidul Islam confirmed the offer from Samsung, but he refused to give an exact size of the investment. A senior official of the authority, who attended the talks between the BEPZA and Samsung, said the South Korean firm planned to invest around $1.25 billion.
"Samsung sought 500 plots in EPZs at Chittagong and outside Dhaka. It wants to set up mobile phone, electric, electronics and home appliance plants," general Islam said.
He said Samsung would also manufacture computer accessories and peripherals, air conditioners, mobile, cameras, LED television, refrigerators and microwave ovens in Bangladesh. Although the size and quality of the investment has taken the BEPZA by surprise, officials at the authority could not commit plot allotment to Samsung.
It is the biggest investment offer we have received from the world's largest electronics maker. We are trying to convince them to set up factories at Mongla and UIttara EPZs. According to the BEPZA, the Mongla EPZ has only 55 plots and Uttara EPZ has 182 plots left vacant as of May 2011. Both the EPZs lack gas supply and face acute power crunch.
Samsung has also proposed that we set up an exclusive EPZ for them at Chittagong or Dhaka or anywhere between Dhaka and Chittagong, Dhaka and Mymansingh, Dhaka and Tangail, Dhaka and Manikganj or Dhaka and Narsingdi. The Korean company needs at least 300 acres of land to build its electronics hub.
"We are trying our best to fulfill their demand," BEPZA Chairman said.
Samsung's offer is the latest in high-profile offers from top companies BEPZA has received in recent years. But lack of plots in Dhaka, Chittagong and Comilla EPZs mean the BEPZA has no choice but to turn down the offers, depriving the country of hundreds of thousands of new jobs and billions of dollars of export earnings.
Galaxy Tab - latest tablet product of Samsung
President of Korea-Bangladesh Chamber of Commerce and Industry said the Samsung proposal proves that Bangladesh is on the right track to woo investment from top global firms.
"The arrival of Samsung in Bangladesh can be a big boost for the country's future," he said, "Local talents are leaving Bangladesh to get world-class jobs. This kind of hi-tech industries would open a world of opportunities for them and the industry," he added.
Bangladesh chapter head of Samsung Group Mr. Lee admitted his company was holding talks with the BEPZA and other senior officials of the government. "The proposal is under consideration. We are trying to negotiate with high-ups of the government," Mr. Lee told. He declined to disclose details of the proposal until it is finalized.
So from the Article above, Bangladeshi entrepreneurs should take a serious look at decentralizing their business or making relocation effort from large city-centered Co. bases to other parts of country where the growth has yet to caught on, before the multinational giants find ways to capture the untapped part of Bangladeshi market. Hence, it is of huge importance to start acquiring good commercial lands that are ideal for project establishment in part of the country i.e Rangpur where the scarcity if land is yet not that severe like Dhaka or Chittagong. Or simply invest in commercial real estates, where literally there is no risk factor involved, in the midst of trending Real estate market in Bangladesh.
