Press Releases

Sahara India Pariwar enters Bangladesh’s housing & infrastructure sector; signs MoU with Bangladesh Government

Forms ‘Sahara Matribhumi Unnayan Corporation Limited’ to develop a satellite township, affordable housing & integrated townships in and around Dhaka
The company plans to enter the power & healthcare sector and other welfare programs in Bangladesh at later stages

Dhaka, May 25, 2012: Sahara India Pariwar, a major business conglomerate in India has today announced its entry into the housing & infrastructure sector of Bangladesh. The group’s, newly formed Bangladesh based company ‘Sahara Matribhumi Unnayan Corporation Limited’ has signed a Memorandum of Understanding (MoU) with the Ministry of Housing and Public Works of Bangladesh Government, to invest in the development of housing industry in Bangladesh. ‘Sahara Matribhumi Unnayan Corporation Limited’ will conceptualize, design and plan a new city near Dhaka, i.e. Notun Dhaka (New Dhaka) and will build affordable housing for low income groups with Housing Finance support for majority applicants. The newly formed company will also conceptualize, design and plan various integrated satellite townships under the Ministry of Housing & Public Works (MOPW) of the Government of Bangladesh.
 
The MoU was signed by Saharasri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar and Mr. Nurul Huda, Chairman, Rajdhani Unnayan Kartripakkha (RAJUK). The event was witnessed by Mr. Abdul Mannan Khan, State Minister for Housing & Public Works and other top bureaucrats, politicians and senior officials of the Bangladesh Government.

The eventful 4 day visit of Saharasri Subrata Roy Sahara was concluded with positive notes after having meetings with Dr. S. A. Samad, Executive Chairman of Board of Investments (BOI), Dr. Atiur Rahman, Governor of Central Bank and the Shri Hasan Mahmood Khondokar, Inspector General (IG) of Bangladesh Police.

Hon’ble Prime Minister of Bangladesh Sheikh Hasina had also met Saharasri Subrata Roy Sahara to discuss about the intended projects and further opportunities in Bangladesh.

Saharasri Subrata Roy Sahara has urged the Government of Bangladesh to ease conditions about availability of housing finance and to remove the difference in tax rates between listed and unlisted companies in Bangladesh. The newly formed company ‘Sahara Matribhumi Unnayan Corporation Limited’s plans are to build integrated and satellite townships which will be heavily intensive on infrastructure unlike regional real estate projects. He requested both Dr. S. A. Samad and Dr. Atiur Rahman that a classification of a section be created midway between housing and infrastructure so that the taxation policy is relooked at Bangladesh.

Speaking at the press conference, Saharasri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, said, “I am extremely proud to extend our business interests in Bangladesh. The Government of Bangladesh and its people have provided us a wonderful support and this in effect will help us to contribute towards the development of Bangladesh.”

ABOUT SAHARA INDIA PARIWAR
Sahara India Pariwar is a major business conglomerate in India with operations in multiple sectors, including financial services, life insurance, mutual funds, housing finance,  infrastructure & housing, print and television news media, entertainment channels, cinema production, consumer merchandise retail, healthcare, hospitality, manufacturing, sports, and information technology.