Business

Tropical Homes built on honesty, quality

Says managing director in an interview with The Daily Star
Sheikh Rabiul Haque

The intersection of profession, passion and academic background can be complicated.

However, it is sometimes comforting to realign one's profession with passion, as this approach in some cases is neither less creative nor less successful than pursuing a professional role directly tied to one's academic background.

Take, for example, the case of Md Rezaul Karim and Sheikh Rabiul Haque – two friends with backgrounds in medical science and physics, respectively.

Both shared a common interest in architecture and painting, which inspired them to establish a real estate firm in the 1990s.

The friends pooled their savings of Tk 25 lakh, hired fewer than half a dozen staff members and began constructing a 12-storey apartment on a piece of land in Dhaka's Bijoynagar.

"I remember those days when our capital was almost zero," recalls Haque, who was then a small businessman. "But we were determined. My friend and I had a vision – not just to build homes, but to change lives."

Over the past three decades, that vision has paid off.

What began as a tiny architectural venture has grown into today's Tropical Homes Limited – one of the country's leading real estate firms.

On the eve of the company's 30th anniversary on Tuesday, Haque said the Bijoynagar project was not hugely profitable but gave them the confidence to continue.

Since its inception in 1996, Tropical Homes has delivered more than 2,400 apartments, 1,365 office spaces and 1,280 units of shops and showrooms.

After completing several initial projects, the firm began constructing high-quality housing not only for the affluent but also for the middle class, said Haque – now the company's managing director – in an interview with The Daily Star.

He said they did not own land initially, but that did not stop them. They sought land at discounted prices in the capital, where they faced more than just financial struggles.

They had to contend with land encroachment, legal hurdles and resistance from powerful groups.

"From the beginning, we made a promise to ourselves: we wouldn't compromise on ethics. We wouldn't take shortcuts or engage in anything illegal," Haque said.

"That honesty became the foundation of the company's success," he added.

Moreover, he said their projects reflect quality, which sets Tropical Homes apart from other real estate firms.

"While designing the first draft of any new project, we consider the maximum use of sunlight. Besides, our apartments are spacious, with larger verandas so that residents can enjoy greater closeness to nature," he said.

Haque also emphasised that they do not compromise on space when designing parking areas, elevator shafts and fire safety measures.

According to him, high-grade concrete, professional architects and premium materials such as quality wood and glass have become hallmarks of their developments.

Every structure is designed to meet the needs of the community, carefully crafted to serve those who will live and work in them, he commented.

"The company's ethical approach, transparency and commitment to quality became its core values, which resonated with customers and investors alike," the Tropical Homes MD said.

Even as the company grew, it never relied on bank loans, which is a rare achievement in the construction industry. Instead, Haque and his team maintained a Tk 25 crore asset fund, which provides financial stability during challenging times.

"Banks were ready to finance us, but we preferred to stand on our own feet," Haque mentioned. "Our success wasn't just about profits; it was about doing things the right way."

He added that, from the beginning, Tropical Homes has maintained competitive pricing for its assets to ensure customer satisfaction.

"Now we construct around 350 to 400 apartments every year in different parts of Dhaka city," the managing director said.

According to him, the company has not received a single complaint regarding construction delays or disputes.

Looking ahead, Haque envisions even greater accomplishments.

"We want to build high-rise buildings that set architectural benchmarks in Bangladesh – buildings that rival the standards of cities like Singapore and Shanghai," he said.

He added that despite political instability, economic downturns and the Covid-19 pandemic, which tested the limits of many businesses, Tropical Homes has not only survived but thrived.

"We believe business is a form of service," Haque said. "If we remain honest and work for the welfare of the people, our journey will continue, and greater achievements lie ahead."

He said the future is filled with both challenges and opportunities, but if history has shown anything, it is that Tropical Homes will continue to build not just for today but for a better tomorrow.

Just 30 years ago, Haque started with only five staff members. Today, he looks after a team of more than 350, including engineers and architects.

"Now I am about ready to hand over the business to the next generation and expect them to continue with the values and honesty needed to sustain the business," he concluded.

 

Comments

Tropical Homes built on honesty, quality

Says managing director in an interview with The Daily Star
Sheikh Rabiul Haque

The intersection of profession, passion and academic background can be complicated.

However, it is sometimes comforting to realign one's profession with passion, as this approach in some cases is neither less creative nor less successful than pursuing a professional role directly tied to one's academic background.

Take, for example, the case of Md Rezaul Karim and Sheikh Rabiul Haque – two friends with backgrounds in medical science and physics, respectively.

Both shared a common interest in architecture and painting, which inspired them to establish a real estate firm in the 1990s.

The friends pooled their savings of Tk 25 lakh, hired fewer than half a dozen staff members and began constructing a 12-storey apartment on a piece of land in Dhaka's Bijoynagar.

"I remember those days when our capital was almost zero," recalls Haque, who was then a small businessman. "But we were determined. My friend and I had a vision – not just to build homes, but to change lives."

Over the past three decades, that vision has paid off.

What began as a tiny architectural venture has grown into today's Tropical Homes Limited – one of the country's leading real estate firms.

On the eve of the company's 30th anniversary on Tuesday, Haque said the Bijoynagar project was not hugely profitable but gave them the confidence to continue.

Since its inception in 1996, Tropical Homes has delivered more than 2,400 apartments, 1,365 office spaces and 1,280 units of shops and showrooms.

After completing several initial projects, the firm began constructing high-quality housing not only for the affluent but also for the middle class, said Haque – now the company's managing director – in an interview with The Daily Star.

He said they did not own land initially, but that did not stop them. They sought land at discounted prices in the capital, where they faced more than just financial struggles.

They had to contend with land encroachment, legal hurdles and resistance from powerful groups.

"From the beginning, we made a promise to ourselves: we wouldn't compromise on ethics. We wouldn't take shortcuts or engage in anything illegal," Haque said.

"That honesty became the foundation of the company's success," he added.

Moreover, he said their projects reflect quality, which sets Tropical Homes apart from other real estate firms.

"While designing the first draft of any new project, we consider the maximum use of sunlight. Besides, our apartments are spacious, with larger verandas so that residents can enjoy greater closeness to nature," he said.

Haque also emphasised that they do not compromise on space when designing parking areas, elevator shafts and fire safety measures.

According to him, high-grade concrete, professional architects and premium materials such as quality wood and glass have become hallmarks of their developments.

Every structure is designed to meet the needs of the community, carefully crafted to serve those who will live and work in them, he commented.

"The company's ethical approach, transparency and commitment to quality became its core values, which resonated with customers and investors alike," the Tropical Homes MD said.

Even as the company grew, it never relied on bank loans, which is a rare achievement in the construction industry. Instead, Haque and his team maintained a Tk 25 crore asset fund, which provides financial stability during challenging times.

"Banks were ready to finance us, but we preferred to stand on our own feet," Haque mentioned. "Our success wasn't just about profits; it was about doing things the right way."

He added that, from the beginning, Tropical Homes has maintained competitive pricing for its assets to ensure customer satisfaction.

"Now we construct around 350 to 400 apartments every year in different parts of Dhaka city," the managing director said.

According to him, the company has not received a single complaint regarding construction delays or disputes.

Looking ahead, Haque envisions even greater accomplishments.

"We want to build high-rise buildings that set architectural benchmarks in Bangladesh – buildings that rival the standards of cities like Singapore and Shanghai," he said.

He added that despite political instability, economic downturns and the Covid-19 pandemic, which tested the limits of many businesses, Tropical Homes has not only survived but thrived.

"We believe business is a form of service," Haque said. "If we remain honest and work for the welfare of the people, our journey will continue, and greater achievements lie ahead."

He said the future is filled with both challenges and opportunities, but if history has shown anything, it is that Tropical Homes will continue to build not just for today but for a better tomorrow.

Just 30 years ago, Haque started with only five staff members. Today, he looks after a team of more than 350, including engineers and architects.

"Now I am about ready to hand over the business to the next generation and expect them to continue with the values and honesty needed to sustain the business," he concluded.

 

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