One of the capital’s largest wholesale cloth hubs, Bangabazar was completely burned down by fire in April last year. The fire’s aftermath raised serious concerns about merchant safety and accountability.
The Dhaka South City Corporation (DSCC) has started planning to build a 10-story multi-story market on the burned-out grounds of Bangabazar as part of an initiative to revitalise the neighbourhood.
The Bangabazar Paikari Nagar Bipanibitan project will occupy 106 katha of land, and business owners will be responsible for paying the Taka 365 crore in building costs.
Affected traders will get preference when it comes to shop allocation in the new market when construction is set to start in April of next year. These developments have been verified by the Bangabazar Complex Shop Owners Association and the engineering department DSCC.
Additionally, according to sources, the Bangabazar wholesale market’s design has already been finished. Soon, the DSCC will release a call for bids to construct new buildings.
With 3,215 businesses, the renovated Bangabazar market will have all the conveniences of a contemporary market, such as a robust fire suppression system.
To be eligible for allocation, prospective store owners must deposit a minimum of Taka 20 lakhs into the municipal corporation fund. Payment can be made in five installments if preferred.
Officials from the Dhaka South City Corporation Market By-law 2016 state that traders impacted by the fire will receive priority treatment.
Of the 2,961 affected shops, 3,215 will be allocated based on valid allotment papers.
DSCC Chief Executive Officer (CEO) Mizanur Rahman said the authorities will ensure equitable treatment for all affected parties.
