1

Letter of Transmittal
May 2, 2019,
Maj. Gen. Alauddin M A Wadud (retd),
Fundamentals of Management,
Department of Business Administration (General),
Bangladesh University of Professionals.

Subject: For the acceptance of Term paper.

Sir,
It is with great pleasure and that we am submitting our term paper on the topic - “The Real Estate
Industry in Bangladesh: A Management Colosseum”. While preparing this term paper, we have
followed your instructions and guidelines with diligence and sincerity. This report has been compiled
through primary and secondary research. We shall be pleased to answer any sort of query you may have
regarding this report.
We are grateful to you for your guidance and support. We have tried our best to complete the report
appropriately as much as possible, and we hope it meets your standards and expectations. We hope with
great anticipation that you would like and accept our report, and we are looking forward to your
evaluation. Finally, we would like to express our special gratitude to support us throughout the semester.
Thus, in circumstances, we pray and hope that your honor would be kind enough to accept our term
paper and oblige thereby.

Sincerely Yours,
Amir Hamza ID19231016
Kinjal Labonnya Haider ID19231018
Raihana Rahman ID19231020
Ishmam Ahmed ID19231026
Tawsif Alam ID19231030
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CONTENTS
EXECUTIVE SUMMARY ​– Page ​3
INDUSTRY RESEARCH AND OVERVIEW ​– ​Page 4
MARKET AND CUSTOMER RESEARCH ​– ​Page​ 6
CONCORD REAL ESTATE LIMITED ​– ​Page 7
COMPANY ANALYSIS ​– ​Page 10
SYNERGY ​– ​Page 13
STRATEGIC OBJECTIVE ​– ​Page 14
MANAGERIAL FUNCTIONS ​– Page 16
SUCCESS OF CONCORD REAL ESTATE ​– ​Page 20
CHALLENGES ​– ​Page 21
RECOMMENDATIONS ​– ​Page​ 22
CONCLUSION ​– ​Page 24
BIBLIOGRAPHY ​– ​Page 24
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EXECUTIVE SUMMARY
Concord Real Estate is one of the most successful real estate companies of Bangladesh. Customer
satisfaction is something which they have always cared about. The company maintains synergy in all
aspects. They set long term achievable goals and work efficiently and effectively to achieve them. The
company has the Functional organizational structure. The top level managers ensure that all the
managers and employees are provided with sufficient information about their respective jobs. The
managers and employees have two way communication and the managers take feedbacks from the
employees ensuring job satisfaction among employees.
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CHAPTER 1
Industry Research and Overview
The real-estate and building construction industry is one of the fastest growing, as well as one of the largest,
sectors in the economy of Bangladesh. It employs around 2.88 million as of today and is expected to employ 3.32
million by the year 2021.
However, Bangladesh, like many other developing countries, faces a shortage of affordable housing, especially in
urban areas. The housing sector is also affected by poor land administration policies, instability in the stock
market, and very high land prices even when compared to developed countries around the world. These
drawbacks are both advantageous and disadvantageous for the real estate companies in Bangladesh, as there’s no
shortage of demand for new projects, but at the same time, high land prices pose a great risk when the economy is
having a slowdown.
In spite of its drawbacks, the construction sector is poised to be the new growth engine in Bangladesh, which now
thrives on the Retail and Garments sector, and the USD 14 Billion remittance flow from its workers abroad.
According to the Bangladesh Bureau of Statistics, the construction sector accounted for a vast 9.1 percent of the
GDP in the 2012-2013 fiscal year. This growth started around 1990 when a construction boom started in the
country due to the necessity for industrial buildings, corporate offices, housing units, roads and other types of
infrastructure. Bangladesh also made major leaps in recent years, with the new micro-economic and political
stability.
The real estate sector continues to enjoy sustained growth, but owing to the emergence of new sectors like
communication and technology, its share in the per capita GDP has been decreasing. Here is a table which
illustrates this slow decline –

Although the growth of the real estate sector remains low compared to the economy of Bangladesh, which now
has a staggering 6.9 percent growth rate, the demand remains high. This is more prominent in our capital city -
Dhaka. Dhaka is currently growing at an unprecedented rate, accommodating over half a million (600,000) people
per year. More than 120,000 houses are required to house the added population in this city. At present, the supply
of housing in the city is only around 25,000 units, of which 15,000 units are provided by the private sector
contributors like (real estate development companies). Most of the families are now nuclear ones (parents and one
or two children) who prefer to dwell in apartments with two or three rooms. Nearly half of the apartments are
found to be between 1,000 to 1,600 square feet. On the other hand, only 2% of the residential apartments are less
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than 700 square feet, which indicates that the real estate sector has not quite been able to address the low-income
dwellings.

This near-exponential rise of Land price in Dhaka has been Illustrated through the following chart –

The demand is also high for apartments, due to land shortages throughout the city. Moreover, due to the rise in
nuclear families (parents and one or two children), and the decline of the extended ones, the apartment has
become a popular living unit in the urban areas. And hence, the price of these units remain high, and enjoys an
increasing rate of growth in price, with 334 USD in 2003, to a staggering 1700 USS in 2013. That is the value
growth of 500 percent. This has been illustrated through another chart below –

This price hike can also be attributed to the colossal amount of undocumented money that has been utilized in
acquiring land, apartments, buildings, shops, etc. in the past few years. The usage of this Black or undocumented
money, and its effects of the housing sector cannot be measured precisely. It’s because there are no authentic
sources of information or reliable organizations to document or investigate it.
Apart from undocumented money, the vast amount of remittance sent by expatriates living abroad can also be
attributed to the rising price of real estate units in Bangladesh.
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The real estate industry is also seen as a cash cow for many investors, due to its slow but steady growth rate. And
hence, a lot of personal savings of the middle class are usually invested in real estate, as the stable growth of its
industry makes it a popular choice.
The real estate sector is also a labor-intensive industry, whose capacity for absorbing labor is immense. The sector
provides vast amounts of employment opportunities to the unskilled and the semi-skilled, and as there is no
shortage of migrants from the rural areas flocking the urban and industrial centers of the country, the construction
companies can easily hire these workers in low-wage temporary contracts.

CHAPTER 2
Market and Customer Research

The average monthly family income of those looking to own a house within a short or medium time
frame is around BDT 95,400. The average plan to build their homes is on approximately 4.6 kathas.
Families who are looking to buy apartments within a short or medium time frame have an average
monthly earning of around BDT 97.300, and on average they have the purchasing power of flats that are
around 1,786 square feet. Among them, about half (53%) has an average family saving of around BDT
20,000.
Currently, buyers are more inclined to buy flats than instead build their own houses, and people who
already own a property are still willing to buy another property which actually adds to the growth in the
demand, Buyers from the 40-5- age range are more willing to build their houses in a span of 2-3 years.
Younger segments on the market, which mainly consists of the ‘new nests’ with couples of around
25-30 years of age, are willing to purchase flats rather than building their own houses. For the latter, in
most cases, they don’t have any immediate plan.
As for the location of purchasing properties, buyers who want to buy apartments mostly prefer Uttara,
Mirpur, Bashundhara, and Mohammadpur areas. For building houses, they prefer Dhanmondi,
Gulshan-Banani, and Purbachal areas. Buyers are also inclined to invest in real estate properties outside
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Dhaka, in semi-urban areas like Ashulia and Tongi, in the hopes of significant returns when those areas
are urbanized and assimilated within the capital city.
Major sources of funds for the buyers are bank loan, and personal and family savings. The other sources
are government loans, among which a significant source is the state-owned BHBFC (Bangladesh House
Building Finance Corporation), alongside commercial banks, employee loans, life insurance policies,
and informal means. According to homeowners of newly constructed houses, the primary source of
housing finance is household savings (more than one-third), loans from relatives and friends were the
second most common form of funding, followed by the sale of other parcels of land.
As for the low-income families, the government and a large number of NGOs are providing
micro-credits to purchase sizable living areas that are usually under 700 square feet. Moreover, there are
now 23 private companies that extend housing finance in Bangladesh among which the most prominent
ones are the Delta-BRAC Housing Finance Corporation Ltd. and the National Housing Finance and
Investment Ltd. These corporations provide loans and short time mortgages for the construction of
houses, acquisition of flats and houses, extension and improvement of existing housing, and the
purchase of housing plots.

CHAPTER 3
Concord Real Estate Limited
Concord is Bangladesh's driving Real Estate and Construction Conglomerate with more than 1000
surely understood activities to their name. Harmony was set up following the autonomy of Bangladesh
as a little ownership organization in 1972.

It began its modest voyage towards re-building Bangladesh with the development of 7 war harmed
connects on the Dhaka-Chittagong parkway. From the earliest starting point, Concord had one witticism
"No trade-off with quality".
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"Maritime Officers' Mess" of the Headquarter Complex of Bangladesh Navy was maybe the main such
quality work among Government undertakings of that time, which were trailed by other pride ventures
like: "Remodel of Bangabhaban (Presidential Complex). Global Conference Center at Prime Minister's
Secretariat at Dhaka (a 'plan fabricate' development venture) and various other Government
establishments.

In the mid-eighties embraced elevated structure development without precedent for Bangladesh. These
included 20-storied Shilpa Bank Bhaban, 22-storied JibonBima Tower Building, Janata Bank's
24-storied Head Office Building in Motijheel (the main ever skyscraper with 3 storm cellar floors).
There were the main genuine elevated structures of the city around then and were manufactured at the
same time in progression.

Other than the above tall structures, Concord additionally developed the Low-ascent squares of the
Sonargaon Hotel in relationship with Shimizu Construction Co. Ltd Japan, the Head Office working of
Bangladesh Steel and designing Corporation at Karwan Bazar, the Head Office Building of Titas Gas
T&D Co. Ltd at Karwan Bazar, the Channel Transmission Building for Bangladesh Television at
Rampura, the Auditorium of Bangladesh Television at Rampura, the Television Relay Station at
Mymensingh, the Television Relay Station at Nature, the Administrative Building of Bangladesh T&T
Board (BTTB Bhaban), the complex of Bangladesh school of Agriculture and Science at Joydebpur, the
VVIP terminal Building of Hazrat Shahjalal International Airport, the 200 Bed medical clinic at
Narayangonj, Petro Center the Head Office of Bangladesh Oil, Gas and Mineral Corporation (BOGMC),
the Pharmaceutical Plant of CIBA-GEIGY at Tongi and so on.

The heritage proceeded in the nineties with the development of British High Commission Offices at
Baridhara, the Renovation works of Sugandha (the State Guest House at Hare Road), the development
of International Conference Center at Prime Minister's Secretariat the VVIP Rest House at Teesta
Barrage, the Vice President Residence at Hare Road (otherwise called VVIP House).
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The Grameen Bank Bhaban at Mirpur, The BRAC Center at Mohakhali, the Construction works at
KAPCO Project at Rangunia, Karnaphuli, Chittagong, the National Indoor Stadium at Mirpur, the
Islamic Development Bank (IDB) Bhaban at Agargaon, the CentraI Hospital at Dhanmondi, the Central
Briefing Room for aviation based armed forces at Tejgaon, the Married Officer's Quarter for Air Force,
the Bangladesh Shilpa Rin Sangstha Building at karwan Bazar, the ladies' medicinal school and
emergency clinic at Uttara, the Construction of CARDIAC UNIT (DAB) of Ibrahim Memorial Hospital
(BIRDEM) at Shahbag, the Nitol Center At Mohakhali, the red bow Concord Tower at Mohakhali, the
Parishankhan Bhaban at Agargaon, the Underpass at Karwan Bazar, the Underpass Shopping and
Underpass Mobile Market at Gulistan are the achievements that just Concord should invest heavily in
reporting.

Accord is the main engineer in the nation to have set up an undeniable contamination free satellite city
"Lake City Concord" at a reasonable cost for center to bring down salary bunch in Bangladesh with full
help offices (like claim shopping, focus, school, mosque, play area, exercise center and pool and so
forth.). Lake City Concord has its very own sewage treatment plant (Aqua Bio Compact) which was
introduced to guarantee and protect a contamination-free condition.

The Ready Mix and Concrete Products plants were the pioneer venture for the land area is turning into
an all the more ecologically cordial industry. By presenting the Ready Mix Concrete Plants, they offered
an effective development answer for the Real Estate industry, sparing time operational expense and less
carbon emanation.

Their spearheading building squares were the answer to avoid the risky wellbeing effect and carbon
discharge coming about because of the tasks of the conventional block field.

Block fields influence us regarding losing cultivable soil in the entire operational region of the block
field, the consuming of trees to supply vitality to the block fields and decreased the carbon emanation
coming about as the result of the customary block fields. Since the beginning, Concord hasn't utilized a
solitary block in any of our activities.
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Accord has made another goal in the amusement and the friendliness business in Bangladesh called the
Concord Entertainment Co. Ltd. It presented the first historically speaking amusement park idea in the
nation through our excitement extends in Ashulia & Foy's Lake Chittagong.

A huge number of Visitors visit both our park edifices, every year. Dream Kingdom is Bangladesh's first
world-class amusement park. The Fantasy Kingdom Complex currently comprises of Fantasy Kingdom,
Water Kingdom, Heritage Park, Xtreme Racing (Go Kart) and the Resort Atlantis (Resort Hotel). Dream
Kingdom was planned as "Place of interest" by the Government of Bangladesh in 2002.

The Foy's lake Entertainment Complex has set up more than 350 sections of land of wonderful lakes and
slopes in the core of Chittagong. It comprises of Foy's Lake Amusement World, Sea World, Foy's Lake
(Resort Hotel) and Foy's Lake Bungalows (free remote lodges inside the lake).

CHAPTER 4
Company Analysis
SWOT Analysis
Strengths
· The expense of creation is less as work cost is considerably more shoddy than the other remote
​

nations.
· Low supplies costs as practically all provisions materials for development are presently accessible in
​

neighborhood creation showcase.

·​ Enough taught and qualified work power in Architecture, designing, and task the executives level.
​

·​ Require less measure of capital value to proceed with the task.

​
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Weaknesses
· Bangladesh doesn't have/can't bear the cost of high innovation as other outside nations.
· Need in increment value from the offer market.
· ​ Bangladesh does not have explicit principles and rules of standard configuration.
​

·​ Absence of worry on earth shakes calamity, no particular rule.

​

Opportunities
·​ In Bangladesh, as a creating nation, there is a high development of urban regions.
​

· The number of inhabitants in Dhaka city is developing at a lot quicker rate, and as urban populace
​

expands it is expanding the interest of a new house.

·​ As the land cost of Dhaka expanded, the interest of condo expanded.
​

· A large portion of the outside settlement comes in Bangladesh are put resources into the land
​

business.
·​ Change the example of family builds the interest of all the more lodging.
​

·​ Cost increment of loft doesn't have a negative impact on deals volume.

​

·​ Less viable substitute in current situation.

​

Threats
· In Bangladesh, the lodging advance loan fee for clients is a lot higher the outside nations. In
​

Bangladesh, it is 14-16%, though in outside nations it is by and large 5-8 %.

· The organizations need to go in quite a while expending bureaucratic procedure of getting the
​

endorsement of 9 distinctive government offices to begin a development venture.

· The greater part of the urban populace falls into center pay bunch those can't manage the cost of
​

extravagant lofts.

· Because of expansion and uneven outside money trade, the cost of crude materials is consistently
​

expanding.
·​ Political precariousness builds the expense just as damages the development of the business.
​
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TOWS Strategy Analysis

SO Strategies
· As there is less compelling substitute method is accessible, and a request is expanding, so take more
​

measure of development venture at once.

· As clients are quality touchy as opposed to value delicate, Improve the nature of condo by utilizing
​

most ideal crude materials.

·​ To satisfy all client necessity to give emesis on engineering structure quality.
​

· As family design changes and it is decreasing, so make the little unit loft more and this will expand
​

the all-out a number of unit in a predetermined region.

·​ Forceful advertising is less required.
​

WO Strategies
·​ As individuals are a quality concern, import the most recent innovations to give best quality condos.
​

· Import earth shakes opposition method from Japan, construct the earth shudder evidence structures
​

and the organization will ready to deal that at a more expensive rate, as on the grounds that the interest is
still high and individuals have more inclination on quality.

ST Strategies
· Utilize shoddy work, nearby made supplies, and endeavor to keep the cost lower, so it will be
​

conceivable to accomplish the market of center pay bunch by charging lower cost.
· As the center salary bunch in the urban region is biggest in number, by bringing down the overall
​

revenue per unit, it is conceivable to have more deals, and in this manner, there will be augmentation in
the absolute income.
· As the cost of provisions is regularly expanding, by doing in reverse incorporation it is conceivable
​

to diminish the expense of an undertaking, and consequently increment the income.

WT techniques
· Actualize cost cut technique by yielding the best quality material info, and in this way increment the
business volume.
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· Make modest loft units focusing on a center salary just as lower-center pay gathering.

CHAPTER 5
Synergy
Synergy is the concept that the value and performance of two elements will be greater than the effect of
the individual elements. Synergy is also expressed as “the whole is greater than the sum of its parts".
Synergy is very important within an organization because by sharing perception, experience, insight, and
knowledge, the productivity of a company can be increased and achievement of organizational goals
will be easier.
In case of Concord Real Estate and Development LTD. , Synergy is a prominent management factor that
has assisted them in terms of performance. Also, it allowed them some advantages in comparison to the
other companies in market. The synergy that is present in CRE is among three areas:
·​ Management
​

·​ Experience
​

·​ Cost
​

Management Synergy
Concord Real Estate and Development LTD. achieves management synergy by employing managers
who complement each other’s skills & are multi-skilled. This ensures that NREL saves valuable money
without compromising productivity & quality. This synergy ensures constant uncompromising
productivity and quality, thus saving valuable money.
Experience
With over 37 years of experience in the Real Estate sector of Bangladesh, Concord Real Estate and
Development LTD. Are unmatched by any other developer. Channeling their acquired experience in
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proper direction, they are able to get the best out of the employees and achieve their organizational as
per deadline.

Cost
Concord Real Estate and Development LTD. plans and develops different projects using the same group
of engineers and architects. This helps them achieve cost synergy by saving from a combination of
common base operations.

CHAPTER 6
Strategic Objective

A strategic objective is a broadly defined objective that an organization must achieve to make its
strategy succeed. Strategic objectives are, in general, externally focused. The strategic objective at
Concord Real Estate and Development LTD. is set on the basis of achievable long-term goals and
measurable units.
The company had entered the market with the ultimate goal of providing quality shelters to its customers
and constructing iconic landmarks back in late 1972. Its strategic objective back then was to provide
quality lands and apartments in every major area of Dhaka city. Today, with about 1000 completed
apartments, commercials and land projects, and about many more projects in the pipeline, Concord has
made significant progress in achieving its objective. The most recent strategic objective set by the
management Concord Real Estate and Development LTD. is to build one landmark project in every area
of Dhaka and Chittagong to reflect its strong footing in these two cities. From the very beginning
Concord had one motto “No compromise with quality.” And with that in mind, hopes to hold on to its
position in the top tiers of the real estate industry in the coming years and beyond.
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Porter’s Generic Competitive Strategies

There are two basic types of competitive advantage a firm can possess: low cost or differentiation. The
two basic types of competitive advantage combined with the scope of activities for which a firm seeks to
achieve them, lead to three generic strategies for achieving above average performance in an industry:
cost leadership, differentiation, and focus. The focus strategy has two variants, cost focus and
differentiation focus.

In a differentiation strategy a firm seeks to be unique in its industry along some dimensions that are
widely valued by buyers. It selects one or more attributes that many buyers in an industry perceive as
important, and uniquely positions itself to meet those needs. It is rewarded for its uniqueness with a
premium price.

Concord Real Estate and Development LTD . mainly follows differentiation strategies. It is providing
unique services and superior value for the customers & is successful at building strong customer base in
today’s real estate market. NREL follows this strategy because it has a corporate reputation for quality
and innovation along with its highly skilled & creative product development teams.
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CHAPTER 7
Managerial Functions

Planning
Concord, one of the largest real estate, engineering & construction conglomerates in Bangladesh
basically follows three types of planning which are strategic planning, diplomatic planning and
operational planning. Strategic plans are basically set by the top level management of the organizations
like the chairman, directors, senior general managers and general managers. They focus on board and
general issues for the whole company which will help to pursue its goals. Under the GM are several
different departments, each having their own departmental heads. Diplomatic plans are set by the middle
managers like assistant general managers, director general managers and senior general managers. The
managers have to decide sub-unit contribution with the existing allocated resources and focus on how to
operationalize actions necessary to achieve strategic goals. Operational plans are developed by middle
and lower-level managers. This plan focuses on carrying out diplomatic plans to achieve specific goals.
The unit managers and the assistant managers determine how to accomplish the specific goals and
objectives with the existing resources within a given period of time.

Decision Making
The organization has a wide range of programmed decisions which the employees and the managers depend on to
deal with routine issues. Any non-routine or complex issue is handled by the top level management which they
follow the contingency design of “centralization”. It involves only the top management making important
decisions for the organization, thus denying any significant power for major decision making to the middle or
lower level managers.

Organizing
Concord mainly follows the "Functional Structure" organizational structure where the jobs are categorized
according to the activities performed. In functional structure, people with similar skills, tools or techniques work
together to perform their jobs The Chairman is at the head of all operations and under him is the Operating
Director followed by the General Manager. The Assistant General Managers in charge of different departments
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work directly under the supervision of the General Manager. The diagram below illustrates the structure of the
organization.

Resource Allocation
It is a process and strategy which involves a company by deciding where scarce resources should be
used in production. These decisions are mainly taken by the assistant general managers and lower level
managers. They mainly focus on strategic planning, budgeting and logistics management. Assistant
general managers set its goals. Then the lower level managers research to determine unmated consumer
needs about that specific project and makes a budget plan for design development, production and
promotional activities.
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Legal Compliance
Legal compliance includes the extent to which an organization compiles with local, state, federal and
international laws assigns. Being a real estate company Concord has to deal with several legal bodies.
Whenever any construction project is about to go underway. It has to obtain permission from RAJUK,
City Corporation, WASA, DESCO, LGED etc. The process of obtaining permits is lengthy and
sometimes illegal demands such as bribes are demanded by the officials of those organizations. A
manager has to know how to tackle these loopholes and evade illegal demands. A manager has to be
ethical and negotiate with illegitimate demands in the appropriate way. The welfare of the company and
clients has to be given utmost importance.

Staffing
The staffing policies include a balanced mix of “headhunting”, which ​is a specialized ​recruitment service used to
source candidates for senior, executive or other highly specialized positions in ​organizations​, ​and through
“employee referrals”. ​The “headhunting” method usually involves commissioning a third-party organization,
typically an executive search firm​, while “​Employee referral” is an internal ​recruitment method employed by
organizations to identify potential candidates from their existing employees' ​social networks​. An employee
referral scheme encourages a company's existing employees to select and recruit the suitable candidates from their
social networks. But recruiting candidates using employee referral is widely acknowledged as being the most cost
effective and efficient recruitment method to recruit candidates and as such, employers of all sizes, across all
industries are trying to increase the volume of recruits through their web site. Being one of the leading real estate
companies of Bangladesh, it completes most of its recruitments for higher level managers through referrals. On
the other hand, employment at junior executive level, which is the entry level, is usually done through classified
ads and through job-listing websites. ​Regular employment tests for potential employees include checking for
educational requirements and conducting formal interviews.

Communicating
Communication in Concord is very efficient. The top level managers ensure that all the managers and
employees are provided with sufficient information about their respective jobs. The employees are
provided with clear and precise idea about the company’s goals and are well directed as well. The
managers always encourage all their subordinates to provide feedbacks to ensure a healthy
communication system and ultimately the efficient execution of the company’s objectives.

Motivation
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At Concord real estate, the management follows balanced mix of "Expectancy Theory" and the "Goal-Setting
Theory" to motivate the employees.
The basic Expectancy Theory model states that one’s motivational strength increases as one’s perceived
effort-performance and performance-reward probabilities increase the likelihood of obtaining a valued reward.
Concord rewards its employees for exceptional performance and this causes the employees to consider putting in
more and more effort into their jobs and thus, increase their chances of being rewarded by the company for
successful execution jobs.
The Goal- Setting Theory states that conceived goals trigger a motivational process that improves performance.
The management at Concord always emphasizes on,
·​ ​making the goals of the company measurable to the employees,

·​ ​making the goals challenging and yet achievable by the employees

·​ ​Ensuring participation of the employees to encourage personal ownership of the goals.

The goals also motivate the employees by,

·​ ​Directing effort,

·​ ​Encouraging effort, and

·​ ​Encouraging persistence.

These changes ultimately lead to an improvement in employee performance. Feedbacks are taken from
the employees at regular intervals to bring changes to the goals or the designed path to achieve the goals
as required.
The employees at Concord are also motivated through job design. Job design is the delineation of task
responsibilities as dictated by organizational strategy, technology and structure. The management
follows the “Fitting People to Jobs” strategy to motivate the employees. This strategy focuses on
improving the motivation of routine-task personnel. The employees are provided with facilities such as
“realistic job previews” and “limited exposure” under this strategy.
The employees at Concord are also motivated through extrinsic rewards such as merit pay, where a
bonus is granted to the employees for outstanding performance, and pay-for-knowledge, where salaries
or wages rate increase based on degrees earned or skills mastered.
 20

Leadership
The leaders at Concord are mostly transactional leaders. This means that they monitor people so that
they do the expected, according to the plan in order to maintain the status quo. They also convince the
employees to work on particular jobs by offering rewards or threatening them with strict actions.
The manager retains almost all the authority and responsibility, and also assigns employees to clearly
defined tasks, but there is also two-way communication between the manager and the employees which
ensures that the employees are aware of the task they are given and can also share their opinion. This
can be said as the leader takes the employees’ feedbacks and suggestions into consideration while
making any decision for the company. This mixture ensures prompt, orderly and predictable
performance, and enhances personal commitment of employees at the same time.

Controlling
The company carefully controls and compares the outcomes of all their projects and takes corrective
measures when and where they are needed to ensure maximum customer satisfaction. To ensure this, the
management at Concord. Practices a narrow span of control which helps the managers in keeping track
of the activities and performances of all employees at all times. The company is designed to have a tall
structure to ensure that the narrow span of control remains efficient.

CHAPTER 8
Success of Concord Real Estate Limited
· Concord ​won global brand excellence award in construction & real estate sector.
· They also won the golden globe tiger award for brand excellence in real estate sector.
· Also for the last four decades Concord has undertaken some most prestigious and
technically challenging projects in the country.
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· National Monument.
· Hazrat Shah Jalal International Airport.
· International Conference center etc.
· First high rise buildings were made by this real estate company.
· In the last four decades it has completed 1000 projects.

CHAPTER 9
CHALLENGES
There are a few difficulties that NREL needs to look in the working business. These are as per the
following-

Construction Materials Price Increase

One of the significant difficulties of Concord Builders is to pace with the cost development materials.
The cost of development materials is reliably expanding along these lines of development and loft. As
per Bangladesh Association of Construction Industries (BACI), development costs will go up by 22%
because of the scarcity of development materials, for example, rebar and concrete in the nation. As
indicated by Trading Corporation of Bangladesh (TCB), the cost of 60-grade pole increased by 36.19%,
while the cost of 40-grade expanded by 35.63% that contrasts last year. As per information from the
Trading Corporation of Bangladesh (TCB), 60-grade MS rebar or better quality is being sold from
Tk71,000 to Tk72,000 per ton. The value used to gamut from Tk59,500 to Tk60,500. Forty-grade MS
bar is being sold for Tk58,000 to Tk60,000 per ton, which was previously sold on special for Tk50,5000
to Tk51,500 per ton.

High Property Transfer and Registration Fee

Plus, high condo cost, charges relating to property exchange and enrollment force additional weight to
the purchasers. As per the new system, charges incorporate Gain Tax (2%), Stamp Duty (3%),
Registration Fees for the local government (2%) and City Corporation (2%) and expenses for
sub-recorder (0.5%) which together record for extra 9.5% expense of a loft. Likewise, the purchasers
 22

need to make good on development Income Government expense (up to talk. 2000 for every sq. meter)
alongside a 1.5% VAT which further intensifies the reasonableness of the purchasers.

Holding market

Concord as of now has a relatively vast segment of the market as opposed to its rivals, however, as of
late it has been bitten by bit losing shares. Dissimilar to most other huge land organizations, they are not
concentrating on broad promoting and aren't making due with a forceful showcasing system

Representative Turnover

We can't state that Concord has an especially "high" representative turnover rate, yet it is 16%, which
isn't less either. Fundamentally, NREL pursues a conventional compensation and limited time
arrangement. They don't offer attractive pay bundle and compelling preparing to their workers in
mid-lower levels, thus they don't fulfill with their activity and representatives endeavor to change to
another organization to show signs of improvement pay bundle and compensation, which is a worry for
them.

Absence of focus on conceivable market spaces

Concord has a lot of structures in the conspicuous territories of Dhaka, yet have less land contrasted with
other top contenders at spots like Uttara, Bashundhara, Purbachal, Mirpur and so on. Uttara is currently
the most looked for an area for making structures. Additionally, with the rate of expanding costs of land
in Bangladesh, the costs of land in the referenced zones will increment definitely in the following 5-10
years.

CHAPTER 10
Recommendations
The goal of this research paper was to accumulate a far-reaching thought regarding one of the main Real
Estate Companies of Bangladesh, Concord Real Estate Limited. In light of the perceptions of the
 23

colleagues, information gained from the significant optional sources, using the hypothetical learning
procured from, the accompanying proposals can be made:

It can be anticipated that, inside the following 10 years, interest for land will be fundamentally high
because of the populace blast and increment in individuals' salary. To handle this future galactic
requirement, the government must devise an arrangement to expand openings and offices in the northern
district of the nation, as it has been seen, the interest for the land is slowly expanding on that piece of the
area.

The organization officials ought to be all the more minding to the client's discourses and to improve the
client administration, for example, upkeep administration after the handover of the ventures

Concord ought to mastermind the promoting program for the notice in TV media or whatever other
electronic media that its rivals are doing and should think about its result.

Concord should build the number of current tasks to catch the market by developing significant lodging
ventures in the selective and chief zone of Dhaka city. Here, they may raise assets by moving an open
restricted organization or may endeavor to make joint endeavors with global land administrators. They
have similarly fewer interests in zones like Purbachal, Bashundhara, Mirpur and so forth and need to
focus on that

Dhaka stays overwhelming in pretty much every part of land advertise that has been surveyed in this
report. Consequently, the administration and other significant specialists of Bangladesh, for example,
Rajuk, should truly consider a noteworthy development plan of Dhaka to adapt up to the galactic
convenience and land needs in Dhaka. This is an attainable arrangement, as it very well may be seen that
edge districts like Rupganj are putting forth land at BDT 9,52,512 for every "Katha" by and large.

Since Concord is as of now among the top land organizations, it should concentrate more on holding
shares and expanding the extents of advertising as opposed to concentrating on endeavoring to catch
more territories of the market.

A more noteworthy dimension of worker interest in the basic leadership procedures to help their spirit,
and guarantee better execution and representative fulfillment.

The essential interest of individuals is to get to arrive around territories, where benefits like medical
clinic, school, and universities are available. Thinking about this factor, the best possible specialists
should concentrate on expanding benefits in areas outside real urban areas to places like Rajshahi,
Khulna, and so forth. Should the benefits achieve the way of life that exists inside the significant urban
areas; individuals will start seeking after undiscovered terrains.
 24

CHAPTER 11
Conclusion
Concord Real Estate is an organization which has advanced a ton since it was established. They keep up
employment fulfillment among clients and investigate their grievances cautiously if there are any
protests. Client devotion, utilization of innovations, utilization of exceptional thoughts are among its
qualities. The organization keeps up the board cooperative energy and cost collaboration by procuring
multi-talented supervisors and utilizing the same gathering of designers and engineers for comparable
ventures. Arranging is finished by the supervisors of the considerable number of levels to accomplish
hierarchical objectives. The real choices are taken for the most part by the top dimension administrators.
The organization is exceptionally proficient regarding correspondence, guaranteeing that the
subordinates know about their undertakings and can likewise give criticism. The directors set objectives
and persuade the workers to accomplish the objectives. The supervisors additionally give impetuses and
prizes to rouse the representatives. They have a tall administrative progressive system and pursue the
useful hierarchical structure.

CHAPTER 12
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