The project requires the creation of 50 acres of property in Trust Green City.
Raffles Infrastructure Holdings was chosen by the Army Welfare Trust (AWT) of Bangladesh to get a township development project with a gross development value of $1.13b (US$800m), based on a statement.
This requires the creation of 50 acres of property with a building area of 10.8m sqft in Zones 2, 3, and 4 of Baunia, Dhaka (Trust Green City) that was made to hold over 5,000 dwelling units.
The project is aimed to relieve housing deficit in Bangladesh, modernise the home business in Dhaka, and leverage technology to enhance the lifestyles of the populace. The business is going to be delegated to tackle the design, funding, construction, promotion, performance, and upkeep of Trust Green City.
Raffles Infrastructure and AWT have entered into a Memorandum of Understanding (MOU) on 7 May.