Pvt developers offer to build high-rises on FF trust land

Ershad Kamol | Published: 00:00, Jul 09,2019


Several private developers are approaching the Bangladesh Muktijoddha Kalyan Trust for developing high-rise buildings on the pieces of land of its four laid-off factories in Tejgaon Industrial Area in the capital.

Different types of proposals have been offered by private developers under private-public partnership for building high-rises on the 6.5 acres land of the laid-off Mimi Chocolate, Circo Soap, Tabani Beverage and Metal Package Limited companies, Kalyan Trust managing director Md Iftekharul Islam Khan told New Age on Sunday.

‘They are offering up to Tk 25 crore as signing money per acre of land and a 53 per cent share for developing 28-storied buildings in the commercially important area,’ he said.

‘We have got another offer which intends to develop a 100-storied iconic tower on 10 acres of land, including the approaching roads to the property,’ he further said.

‘In case of this proposal, parts of the iconic tower would be on the adjacent roads allowing vehicle movement,’ he said.

Iftekharul said that they would take time to consider the proposals as the trust did not have a good experience in the development of Gulistan Tower and Rajdhani Super Market at Gulistan and on Hatkhola Road respectively under similar proposals.

‘The then MDs signed unequal contracts with the private developers for their own interests,’ he said, adding that he would never let that happen again.

Wing Commander Hamidullah Khan was the Kalyan Trust managing director when the contract was signed on constructing the Rajdhani Super Market in the place of now-defunct Haradeo Glass Factory in 1995 during the BNP-led government.

Khandokar Asaduzzaman was the trust MD when the contract was signed on developing the Gulistan Tower in the place of Gulistan Cinema in 1996 during the rule of Awami League, trust officials said.

The parliamentary standing committee on the liberation war affairs ministry in its last meeting held on Tuesday advised the ministry and the trust to review the contracts with the developers and the owners of the shops of these two markets so that the income of the Bangladesh Muktijoddha Kalyan Trust could be increased.

Iftekharul disclosed that the trust was negotiating with the owners of the shops and the developers to that end.

‘We are also trying to get the High Court injections [in these regards] vacated,’ he said. 

Currently, he said, the properties of the Mimi Chocolate and Circo Soap companies have been on rent to private companies under three-year contracts to use those as their warehouses.

‘Monthly we receive Tk 12.5 lakh in rent from the land of the Mimi Chocolate farm and Tk 17.5 lakh from the land of Circo Soap factory.

‘Negotiations are underway to rent out the properties of the other two defunct factories,’ he said. 

Over the years, the Bangladesh Muktijoddha Kalyan Trust laid off all its 20 industrial units, which had become sick due to corruption and inefficiency of trust officials and lack of policy support from the successive governments, freedom fighters said.

All these factories were laid off between 1983 and 2018.

Iftekharul, however, claimed that he had controlled corruption in the trust and brought about development in it for the welfare of the war-injured freedom fighters and martyred family members.

‘We now make a profit of Tk 30 crore annually while a few years back we used to count Tk 25 crore in losses per year,’ he claimed.

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