Can you speak a short history about Gemcon City?How did GemconGroup start their real estate company journey in Bangladesh?
Md. Noor Nabi:Gemcon city is a sister concern of Gemcon group. We work on real estate. That means we work on joint venture development. This is an established group and one of the biggest groups of Bangladesh. Other sister companies of the group are at highest position of their own in market share. Gemcon City started his journey from 2012. Since then we are working on real estate till now. During this time, we work on some selective projects. We have tried to hand over these projects within scheduled time and successfully done it maintaining absolute quality, commitment, service and customers’ satisfaction.
Please tell us about yourself? How did you start your journey as a professional?
Md. Noor Nabi:My name is Mohammad Noor Nabi Elias. I was born in 1975. We are two brothers and two sisters. My father was a Govt. service holder. I completed my SSC and HSC from A.K. High school & College, Dania, Jatrabari and Dhaka City College respectively. I got my Hons. &Masters degree in Management in 1999 from Dhaka University. My career was started in Suvastu Development Limited in the March of 1999 as a Sales Executive. After passing 4.5 years there, I joined another famous real estate company Amin Mohammad Foundation Ltd. Then I worked at Asset Development Ltd about 4years. After that I joined at Nagar Homes Ltd. and worked there at the sales & marketing department as a head of sales &marketing about3.5 years. Then I worked as a head of sales in Dom-Inno Developments Ltd. and afterward in concord in same position for 2 years. I have joined Gemcon on February of 2016. I am working as a GM at Sales & Business Development of the company where sales development customer service is under my responsibility. Thusit is being 18 years I am working in sales & marketing sector.
Tell us about current Real Estate market of Bangladesh.
Md. Noor Nabi: we work for peoples’ basic needs where shelter comes after food and clothing. Bangladesh is a small country. According to the size of the country excessive people live here. Almost 2.5 crore people livein Dhaka. There is a lack of essential place for this massive population to live in the city. And it is also impossible to make house for individual person in a small city like Dhaka. So in that case real estate business is developing day by day. Last few years recession is going on in real estate sector. But I think this recession is happening in price only. Demand of real estate is increasing day by day analyzing last 4-5 years survey. According to market situation, overall economy, peoples’ buying capacity and construction material price flat price are crossing peoples’ capacity. But real estate business is in a stable condition now. Owners had a high profit margin. Due to recession, they have started sacrificing from their profit margin and come to a level. Thus real estate is in a stable stage. So it is a best time for buyers to buy real estate. For increasing demand, number of real estate companies is also increasing. Almost 2500 companies are working in this sector inside Dhaka.
Gemcon City Limited is leading developer in Bangladesh. Tell us about the quality of building and service.
Md. Noor Nabi:when Gemcon started its journey, the slogan of the company was that Gemcon won’t compromise in 3 matters which are- 1) Product quality, 2) Commitment and 3) Customer service. The Chairman of the Gemcon Group Colonel KaziShahid Ahmed is a successful business personality. We practice a corporate management here. Gemcon has a professional team which is a biggest strength of the company. Thus we can ensure quality, commitment and service.
What is international marketing plan and which country?
Md. Noor Nabi:We have some liaison personality in some foreign countries through which we run international marketing and there are some newspapers where we give some ads of our products regularly. We get enough response from there. People who involved with event management organize fairs often in foreign countries and we participate in these fairs. Thus we do international marketing. Our second home for international marketing is Malaysia, where we bought some lands on the side of Putrajayain Kuala Lumpur and built villas there. We will start working on our projects as well as sales marketing very soon.
What is your opinion about the current banking loan facility to this sector in Bangladesh?
Md. Noor Nabi:According tothe present banking condition or the interest level of banking sector, fixed deposit interest is very low like 5%-6%. Our real estate market is in positive condition. The recession is getting overcome gradually. This happened due to the help of banking loan and the present moderate interest rate which is 8.5%. Once Bangladesh Bank provided loans to the buyers at 9% rate. Everyone then rushed to buy properties. But the rate will decrease more in future. So this is a great opportunity for the apartment buyers.
Would you like to give some advice inspiring for the newcomers?
Md. Noor Nabi:a newcomer person must have knowledge about what he wants to do and he has to work very hard for that. He must have interest to know and learn. Nowadays, fresh graduates except handsome salary at the starting of their career. But he must subjugate the work first; afterward he will be able to do better in future. He must keep enough patience and love his job. He must be honest about his job. If he can do his job successfully, he will be able to go forward undoubtedly.