Overview of the Company
Jolshiri Abashon a company registered with the Joint Stock of Bangladesh under the Company Act of 1994 Section-28(KA) which is managed by Bangladesh Army. The company led by Board of Directors drawn from the top brass of Bangladesh Army and headed by a Chairman in the rank of Major General. Unlike existing DOHSs (Defense Officers Housing Societies) of comparatively smaller sizes, it is a massive endeavor, an ideal and comprehensive modern township development undertaking, the first of its kind in the country by Bangladesh Army. It is very close to the capital city with excellent connectivity and all the modern amenities, facilities and much more. The project proposal was accepted by the government in principle through PMs office, AFD, Administration and Management Directorate, Dhaka Cantonment letter no 4006/5/A&L/1414 dated 23 Nov 2009.
Jolshiri Abashon, a sister concern of Army Housing Scheme (AHS) was incorporated on April 11, 2011 as a company limited by guarantee under The Companies Act 1994. The principal objective of Jolshiri Abashon is to create plot for accommodation after purchasing from different sources and provide to serving and retired defense officers on self-financed basis in lieu of DOHS. Jolshiri Abashon has been planned to implement the project by developing approximately 2100 acres of land at Rupgonj Upazilla, Narayanganj. The project will be implemented in ten years in three different time phases. The estimated project cost is $2 billion. The project is likely to be finance from the advance sales revenue. Beside this, the company may generate fund as bank loan on requirement. Major General Abu Syeed Md Masud, BSP is the Chairman of the Board of Directors of Jolshiri Abashon. The project has been operating under strong supervision and effective control of Managing Director Brigadier General Shah-Noor-Jilani,BSP,ndc, psc. The registered office of the Jolshiri Abashon is situated at Zia colony, Dhaka Cantonment, Dhaka- 1016.
The project is located at the Centre of the eastern fringe of the DMDP area. The project is closest and easiest approach to reach from Hazrat Shahzalal International Airport, Dhaka to RAJUK-Purbachal 300 feet Link Road following Kuril Flyover where Jolshiri Abashon is 1.3 km to the south of the Purbachal New Town of RAJUK and to the immediate east of the Bashundhara Residential Area right across the Balu River. It is flanked by the Balu River on the west and the Shitalakshya River on the east. Another important approach of the project is Madani Avenue which starts from the opposite side of the US Embassy and passes through the project area and finally connects Dhaka- Sylhet bypass. In addition to that, the project will be connected with RAJUK-Purbachal 300 feet Link Road through Purbachal New Town with 4 connecting road. Size of the Project area is approximate 9 (Nine) square km and approximate population shall be 1 million.
Project Property, Income and Costing Pattern
The purchased land and created residential, commercial and institutional plots will be the property of the company. Selling of the residential, commercial and institutional plots will be the major income source of the company. Besides leasing of recreational, sports, urban structures and few social facilities leasing options are kept for project maintenance management.
Earning Prospects of the Project
According to the Memorandum of Association all income of the Jolshiri Abashon shall be utilized towards the promotion of the company. No portion of income shall be paid or transferred directly or indirectly by way of profit, dividend or bonus or otherwise to the members of the company. From the inception, the company started a land development project. Total estimated revenue of this project against the estimated project cost are expected sufficient to complete the project fundamentals.
Board of Directors
The Board of JA consists of eleven Directors including the Chairman and Managing Director. The Board is led by Major General Abu Syeed Md. Masud, BSP as Chairman of the Board. The Board frame rules, regulations and standing orders for the management for the business affairs, administration and accounts and may revise, modify or repeal any or all of them from time to time. The Board of Directors
The company Management conduct the day to day affairs of the company and necessary project works to implement the project. Managing Director is the head of the executive management where Chairman remains as Approval authority. Required number of sections are executing overall affairs, functioning and running the various aspects of the project as per implementation plan. The Management Management
The well-conceived development endeavor has planned to blend human habitats with earth and its pristine environment; that also rationally adds aesthetics, amusement and recreation together essentially with all the urban functionalities, for a comfortable and enjoyable life for people of all ages in a comprehensive modern city. The facilities include adequate and appropriate thoroughfares, pedestrians, walkways, lakes, urban and lake greens, community facilities, play lots and playgrounds, health, sports and amusement facilities, neighborhood shopping corners and a central business district (CBD) as a commercial and trading hub enriching the modern day township. And to take total care of the hygiene aspect as well as ensure a healthy environment, a solid waste management system, a sewerage treatment plant and a water treatment plant have also been added to make it a green and standalone urban setup.
The national space standard for urban community facilities spelled in Private Housing Project Land Development Rules (PHPLDR) 2004(updated 2012), has been strictly followed in the planning process.
Project Implementation Status
The project is at the closing of its first phase, which includes land purchase and development, plot, road and other features demarcation, achievement of all clearance and approvals, establishment of connectivity. The company has procured barren low land without habitation and dwellings and filled up with sand more than suggested level. Besides Lake Cutting, internal road development, utility facilities installation, planned plantation to create an urban green city are underway. The company has been allotted the residential plots to all the members of the company and started selling of residential plots in open market commercially. The selling of commercial and institutional plots are under process. The project has already achieved all the permissions from government required for a residential project including RAJUK. As most concerns for the environment have already been evaluated and mitigated, this project is deemed to have minimal risk and impact. The Honorable Prime Minister of the Peoples Republic of Bangladesh, Sheikh Hasina has formally inaugurated the project and distributed the plot allotment certificates to the recipient members on 10 Feb 2015.