Existing real estate law should be amended: Nasrul Hamid

State Minister Nasrul Hamid Thursday observed that the Real Estate Development and Management Act - 2010 should be amended to ensure good practice and accountability in the sector as well as for sustainability of business. 

He made the observation while addressing as the chief guest at foundation-stone laying ceremony of the building of training institute of Real Estate and Housing Association of Bangladesh. The housing business organisation is constructing the 15-storied building at Uttara in Dhaka.

The state minister for power, energy and mineral resources ministry said our country still remains far behind on construction management due to lack of skill, but hopefully REHAB Training Institute would bring about the expected change.

Regretting that there are so many big development projects undergoing in the country, but we have to hire foreign consultants to conduct those works, he said, "Still construction of a multi-storied building takes 2-3 years in Bangladesh which takes only few months in a developed country. We have to learn how they get it done in a short time."

Urging the REHAB to focus on designing and building energy-efficient apartments," the state minister said REHAB has to ensure that people, who pay money, get their flats or plots in time.

He hoped that creating skilled manpower in the housing sector will be more dynamic as REHAB Training Institute is about to get its own building soon. 

REHAB President Alamgir Shamsul Alamin said, in 2015, we established a training institute at Panthapath in Dhaka at a rented house to create skilled manpower in the housing sector. 

He said, "As the scope of work rose, we shifted the institute to Mirpur. The institute is still running there in a bigger range."

"However, there were some issues with setting up laboratories for practical education. Then we felt the need for our own building for the institute. Now we are about to have one", explained the president. 

Replying to a query, REHAB officials said to The Business Standard, work for the building will start in a month and within three years we are supposed to start training activities at the building. 

So far, REHAB Training Institute has trained 10,000 students who are working for different housing and development firms, according to its officials.