Dhaka, 9 January 2026 – City Bank is set to build its own 28-storey headquarters on a prime 40-katha plot in Gulshan, a development that has drawn both regulatory approval and public scrutiny over the land’s purchase price. The project has received formal authorisation from both RAJUK (Rajdhani Unnayan Kartripakkha) and Bangladesh Bank, as well as the approval of City Bank’s Board of Directors.
However, industry insiders and real estate analysts have raised concerns that the bank may have acquired the land at a cost significantly above the prevailing market value.
According to sources within City Bank, the acquisition involved purchasing an additional 20 katha of land adjacent to the bank’s existing 20-katha property. The total expenditure for this extra plot is reported to be BDT 345 crore. This strategic acquisition will allow the bank to expand the footprint and height of its new headquarters.
Previously, the bank’s Gulshan branch operated from a building on the original 20-katha plot. That building has since been demolished, and construction of the new skyscraper is now underway. RAJUK has approved the construction of a 28-storey building, of which five floors will be designated for car parking, while the remaining 23 floors will house the bank’s main operations.
City Bank’s Managing Director and Chief Executive Officer, Masrur Arefin, told the press:
“Around the world, bank headquarters are often designed to be aesthetically impressive and architecturally striking. We wish to set a similar benchmark within Bangladesh’s banking sector. We are grateful to Bangladesh Bank for their approval, and we aim to complete our own building and commence operations there at the earliest possible time.”
Currently, the bank’s head office operates from a rented facility in Gulshan, a temporary arrangement necessitated by the redevelopment of its own property. As of now, City Bank employs over 7,100 staff members across the country and operates 134 branches along with 70 sub-branches.
Key Details of the Gulshan Project
| Item | Details |
|---|---|
| Total land acquired | 40 katha |
| Original plot | 20 katha |
| Additional plot acquired | 20 katha |
| Cost of additional plot | BDT 345 crore |
| Building height | 28 storeys |
| Floors for parking | 5 |
| Floors for main office | 23 |
| Current head office location | Rented building in Gulshan |
| Number of employees | 7,100+ |
| Branch network | 134 branches, 70 sub-branches |
Real estate experts note that the land’s purchase price appears considerably higher than the current market rate, a claim that has generated public debate. Nevertheless, City Bank remains committed to creating a modern, state-of-the-art headquarters that reflects both its ambitions and its status as a publicly listed financial institution.