Creed Asia BD Co Limited, a Bangladesh-Japan joint-venture real estate company, on Friday launched a project for construction of a magnificent residential complex at Bashundhara Residential Area in the capital.
This is the first-ever Japanese real estate investment in the country’s premium residential area.
Civil Aviation and Tourism Minister Rashed Khan Menon attended the launching ceremony as the chief guest at the International Convention City Bashundhara. Ahmed Akbar Sobhan, chairman of the country’s leading business conglomerate Bashundhara Group, and Myo Myint Than, Myanmar ambassador to Bangladesh, were present as special guests.
Speaking on the occasion, Tourism Minister Rashed Khan Menon said investment made by the real estate developers at Bashundhara Residential Area will contribute to the country’s economic growth.
Bashundhara Residential Area has an attractive and calm environment where investment by local and foreign developers in high-rise buildings will help the area flourish further, he added.
Creed Asia BD Co Limited is a joint-venture between Japanese firm Creed Group and local firm Jams Developments Limited.
The 10-storey residential complex namely the ‘Creed Blessed Hill’ will be built on 24 kathas of land at ‘Block I’ of Bashundhara Residential Area. The modern establishment will have all the modern amenities, including gymnasium, convention hall and indoor game zones.
The project is expected to be complete in 2017.
Rashed Khan Menon also expressed hope that such foreign investment will boost the efforts to build a planned city.
Chaired by Md Iqbal Hossain Chowdhury, managing director of Creed Asia BD Co Limited, the programme was also addressed by Toshihiko Muneyoshi, chairman of Creed Development BD Company Limited, Kamioma Mashahoda, chairman of Creed Asia BD Co Limited, and Md Shahadat Hossain, director of Creed Asia BD Co Limited.
Lauding the civic amenities available at Bashundhara Residential Area, Toshihiko Muneyoshi said they hope to expand their investment in Bangladesh.
Later, the organisers gave away crests to the guests.