Essay Real Estate in Bangladesh
The Current trend of urban growth in Bangladesh is about 6-7% per annum. At present 29% of Bangladesh’s population live in urban areas, which will be 34% by the year 2025. The role of Real Estate Entrepreneurs in providing the housing facilities for the growing urban population is very important and these are substantially influencing the growth pattern of the city and its sustainability to the trade.
Real estate business especially apartment projects has started in late 1970s in Dhaka City. But from early '80s the business started to grow and flourish. At present, more than 1000 companies are active in business but 85% business is still dominated by of top 10 Companies. Present market is growing at the rate 15%.
The main …show more content…
The Real Estate company, which has been selected to evaluate its Operational Management Strategy, is Premium Properties Ltd. abbreviated as PPL. The company started its business in the year 2009. Its main and only business operation is to build and sell apartments by developing land in prime location of Dhaka city.
The Problem Statement
Premium Properties Ltd. has been operating a lot of market promotion activities, research and development works, proper employee training, efficient management team over the years. The company has gone through massive production since 2010, various strategies were formulated. Various policies were adopted in different steps of the operational process and Control mechanisms. This massive scale of operation required the Standardization of -
• Construction materials
• Material procurement process
• Construction process
• Quality control mechanism
• Safety & Security issues in construction fields.
• Financial Policy
• HR recruitment, training and appraisal system
• Project Management techniques
• Product quality
• Marketing policy
• And customer support system
Since the establishment of the company, the company’s operation was limited to