Why the cost of real estate in the crowded, slum-packed city of Dhaka rivals Manhattan
A boat carries people to Korail slum in Dhaka, Bangladesh
DHAKA, Bangladesh — Grimy, slum-packed and astonishingly crowded, Bangladesh's capital rarely comes out on top in comparisons with global cities like New York or London. Except, it seems, when it comes to real estate.
Along Gulshan Avenue in the city's central business district, the price of an acre of land is equivalent to $75 million, said Ahsan Mansur, a housing analyst at the Policy Research Institute.
That's approximately $1,700 per square foot. By comparison, land in Manhattan averaged $400 per square foot at the end of last year, according to New York brokerage firms.
At The World, we believe strongly that human-centered journalism is at the heart of an informed public and a strong democracy. We see democracy and journalism as two sides of the same coin. If you care about one, it is imperative to care about the other.
Every day, our nonprofit newsroom seeks to inform and empower listeners and hold the powerful accountable. Neither would be possible without the support of listeners like you. If you believe in our work, will you give today? We need your help now more than ever!