Prime Bank PLC has entered into a strategic partnership with Wecon Properties Ltd aimed at broadening access to structured and customer-friendly home financing solutions across Bangladesh’s growing urban centres. The agreement is expected to facilitate improved affordability and streamlined processes for prospective homeowners seeking quality residential apartments developed by Wecon.
The signing ceremony took place at Prime Bank’s head office in Gulshan, underscoring the importance both institutions attach to the collaboration. The agreement was formally executed by Mamur Ahmed, Senior Executive Vice President and Head of Branch Distribution Division at Prime Bank, and Rezaul Haque Limon, Chief Business Officer of Wecon Properties Ltd. Their participation, alongside other senior officials, reflected the strategic weight of the initiative.
Under the terms of the partnership, customers availing themselves of Prime Bank’s home loan facilities will enjoy exclusive privileges when purchasing Wecon-built apartments. These benefits include preferential pricing, expedited loan approval procedures, flexible repayment structures, and priority services in selected residential projects. The scheme is particularly designed to assist middle- and upper-middle-income buyers seeking to invest in modern urban housing equipped with contemporary amenities.
Bangladesh’s urban population continues to expand at a notable pace, intensifying demand for organised residential accommodation. Each year, a significant number of new households are formed in metropolitan areas, increasing pressure on housing supply. In this context, coordinated ventures between financial institutions and reputable property developers are widely regarded as instrumental in ensuring sustainable growth within the housing sector. Structured financing overseen by established banks mitigates credit risk while offering customers greater assurance when investing in approved development projects.
Also present at the ceremony were Jaward Tanvir Faisal, Head of Cards and Retail Assets Division at Prime Bank, along with Major Mohammad Aminul Haque, Group Chief Operating Officer of Wecon Properties, and Executive Director Dewan Rashidul Hasan. Their attendance signalled a shared commitment to reinforcing collaboration between the banking and property sectors.
Key Features of the Agreement
| Aspect | Details |
|---|---|
| Partner Institutions | Prime Bank PLC and Wecon Properties Ltd |
| Nature of Agreement | Strategic partnership for home loan facilities |
| Target Customers | Individuals purchasing Wecon residential apartments |
| Special Benefits | Preferential pricing, faster loan approvals, flexible instalments |
| Signing Venue | Prime Bank Head Office, Gulshan |
| Core Objective | Expanding access to quality housing through structured finance |
Industry observers suggest that such alliances contribute to market stability, strengthen buyer confidence, and stimulate responsible expansion within the real estate industry. By combining Prime Bank’s growing retail lending portfolio with Wecon’s expanding residential footprint, the partnership is poised to generate mutual gains while supporting the broader objective of enhancing urban living standards in Bangladesh.