Dhaka, Bangladesh’s capital, is a bustling economic center. With a growing population and thriving economy. The city has become one of the most important commercial cities in South Asia, attracting numerous entrepreneurs and multinational corporations. Gulshan, Banani, Dhanmondi, and Uttara are some of the best commercial centers in Dhaka city, and they provide a wide variety of services and amenities for enterprises, including state-of-the-art office spaces, five-star hotels, and convenient public transit. These districts are highly sought after by both domestic and foreign corporations, making them perfect for any company wishing to establish a business in Dhaka. More people than ever before have a good incentive to put their money into retail properties as consumer spending reaches unprecedented heights. If you count yourself among them, keep reading to find out where in Dhaka you may find the best business premises.
What is most amazing about Dhaka city is that you can find the residential places and also the best commercial spaces alongside. It helps to nurture a beautiful relationship between businesses and people. The following section is going to discuss some of the most popular areas for luxury commercial space in Dhaka.
Dhanmondi is one of the most popular and prestigious commercial areas in Dhaka. Equipped with classy residential apartments and world-class amenities, the area is also a hub for several high-class business institutes. Almost all kinds of businesses operate flawlessly here, especially restaurants and shopping malls. Dhanmondi is also considered a cuisine hub in Dhaka, as people from different parts of the city come here to enjoy food from different cuisines. As a result, food businesses have flourished in this area, along with many other shopping centers. Commercial spaces are quite expensive in Dhanmondi but showcase an amazing array of luxury features.
Furthermore, there are several upcoming commercial projects that are expected to enhance the overall availability of luxury spaces in this area.
One of the most sought-after areas is Gulshan, an upscale neighborhood that is home to many embassies, high-end residential buildings, and international corporations. The presence of these institutions and businesses has made Gulshan a hub for luxury commercial space, with many top-quality office buildings and shopping centers located here. Even though Motijheel was considered the hub before, Gulshan has become people’s first choice, especially for luxury spaces. Modern businesses demand contemporary workplace design, seamless technology integration, adequate parking space, emergency systems, security, and safety features. Some well-known corporations have been able to acquire land in Gulshan and put up permanent offices there, allowing for a high degree of customization and distinctive branding. Gulshan’s commercial real estate rental market is so attractive that many of its rivals have set up shop there, increasing the level of competition in the area and making it an attractive place for startups to set up shop. This has led to an increase in the number of reasonably priced office spaces available in Gulshan.
Further, numerous organizations collaborate, thus, being in the same area is a boon to them all. Financial institutions and insurance companies frequently collaborate. Regular transfers between these companies mean that being in close proximity would be ideal. The enormous customer base in Gulshan can quickly offer chances for numerous businesses fitting the food & restaurant demographics, including service providers, shopping malls, and banks, as thousands of people commute within Gulshan every day. As more and more people move to Gulshan for work, it will be intriguing to see if any other neighborhood can unseat it.
Gulshan may still be the preferred choice for many, but Banani is also quickly becoming one of Dhaka’s most popular commercial districts. It’s very comparable Banani provides exceptional access to neighboring areas like Mohakhali, Cantonment, and Bashundhara thanks to the flyovers, while Gulshan is more tightly packed and inward. Banani is located near several of Dhaka’s diplomatic regions, as well as affluent neighborhoods, prestigious medical facilities, prestigious schools, and exclusive clubs. As a result, several international corporations, media moguls, and A-list celebrities have set up shops in the Banani district. Since the majority of corporations have established their headquarters in Gulshan, it makes sense for ancillary businesses to do the same, choosing to locate in the more central Banani. Here, developers have crafted one-of-a-kind retail settings that cater to specific businesses.
Uttara has come a long way in its infrastructure development and overall growth in both commercial and residential aspects. This part of the city has become entirely self-reliant, and the inhabitants of this area don’t even need to go deeper into the city to get anything done. Uttara is also close to Bangladesh’s biggest international airport, Hazrat Shahjalal International Airport. Getting to Savar, Tongi, and elsewhere is a breeze for those living in Uttara because of the accessibility of public transportation. Because of the roads, they can quickly get to Mirpur, the airport, Bashundhara, and Khilkhet. The Metro Rail Project is making Uttara much busier than the current core. As the number of people living in Uttara has gone up, so has the need for storefronts. Uttara’s convenient position within Dhaka and proximity to the city’s transportation hubs make it a top choice for businesses that regularly ship goods to and from the city. The Metro is only operating from Uttara to Agargaon at the moment; once it is fully operational, Uttara is expected to become a prime location for luxury commercial space in the city.
It is considered the financial stronghold of the country. Motijheel has a long and illustrious history, making it an ideal location for the headquarters of major corporations like Bangladesh Bank and other financial institutions. Motijheel’s rich history makes it the most popular commercial destination in the country, as almost everyone is familiar with this area. Highly developed infrastructure, a major transportation hub, numerous business vendors, and the housing of the Dhaka Stock Exchange are Motijheel’s biggest advantages over other parts of the city.
Many people don’t consider Mirpur to be a place suitable for luxury commercial space; however, with the establishment of Metro Rail, people from faraway places can quickly access Mirpur’s wide range of opportunities. Like Uttara, the Mirpur area is self-reliant, having almost everything that it requires. Housing the national cricket stadium gives Mirpur an upper hand whenever international tournaments are held in that place, attracting an international crowd in the area. Hence, Mirpur can be a prime location for commercial purposes. In this area, you can find any mode of transportation imaginable. Mirpur is ideally suited to hosting offices and other commercial establishments due to its large consumer base, convenient transportation options, and low cost of renting office space. But Mirpur is in its infant stages right now. There used to be many more sole proprietorships and start-ups, but now that schools, shopping centers, universities, hospitals, and government buildings are sprouting up, bigger firms will soon follow. It’s one of the most overlooked destinations but has amazing potential. To what extent Mirpur realizes its promise remains to be seen.
There is a pressing need for commercial real estate, yet Dhaka appears to be in the midst of a commercial real estate transition. There used to be only Motijheel, but the growing middle class, increased consumption, and accessibility of luxury have all contributed to the explosion of the city’s business sector in recent years. Due to the influx of new residents, Dhaka has grown to the point that it no longer has a central business district. In Dhaka, several areas could develop into major financial centers. While Gulshan is currently the most prominent, the other areas are intriguing and could alter the city’s landscape in the near future. It mainly depends on the availability of opportunities for businesses to flourish. Real estate development and investment in the sector can be redirected to other parts of the city to make it a lucrative destination for luxury commercial space.
Ans: Gulshan is considered the newest commercial center in Dhaka.
Ans: Commercial spaces include office buildings, hotels, malls, retail stores, medical centers, warehouses, garages, etc.
Ans: Most of the luxurious commercial spaces are available in Gulshan, Dhanmondi, and Banani.
Ans: The price per sqft. commercial space in Gulshan largely depends on that space’s location and features. It can range between 25000 and 40000 BDT per square foot.