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Fantan Plaza is a mid-sized shopping center located in central Dhaka, Bangladesh, spanning approximately 150,000 square feet of gross leasable area across four levels. Opened in the early 2010s, it serves as a local retail hub in a densely populated urban area with a mix of budget and mid-range tenants. The property features around 100 stores, including fashion outlets like Aarong and local apparel brands, electronics shops, food courts with fast-casual dining options such as KFC and local eateries, and essential services like pharmacies and banks.
Market position is solid within the secondary retail segment of Dhaka, where prime malls like Bashundhara City dominate high-end traffic, but Fantan benefits from proximity to residential neighborhoods and office districts. Occupancy stands at 85 percent as of 2024, per commercial real estate reports, indicating stable demand amid economic recovery post-COVID.
Rent levels average BDT 80 to 120 per square foot per month, competitive for non-prime locations, offering leasing advantages for retailers targeting middle-income consumers.
Tenant mix emphasizes value-oriented retail with 40 percent fashion, 25 percent food and beverage, 20 percent electronics, and 15 percent services, fostering balanced footfall of about 5,000 daily visitors on weekdays, peaking to 10,000 on weekends.
Accessibility is enhanced by nearby bus stops and rickshaw access, though traffic congestion poses challenges.
Demographic profile draws from a young urban population aged 18-35, with household incomes of BDT 50,000-100,000 monthly, reflecting Dhaka's growing middle class.
Operational quality includes basic air-conditioning and security, but aging infrastructure requires maintenance. Leasing opportunities include flexible terms with 3-5 year leases and turnover rents tied to sales performance. Potential drawbacks include competition from nearby street markets and e-commerce growth, which captured 15 percent of retail sales in 2023 according to BTRC data.
Overall, it suits retailers in apparel and F&B seeking affordable entry into Dhaka's retail scene while navigating market saturation in fashion categories.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Fantan Plaza attracts a demographic of urban middle-class families and young professionals in Dhaka, with 60 percent of visitors aged 18-40 and average household incomes between BDT 40,000 and 80,000 monthly, based on 2024 census data from Bangladesh Bureau of Statistics. Footfall averages 6,000 daily, driven by local residents within a 5 km radius, where population density exceeds 20,000 per sq km. This supports steady traffic for everyday shopping, though seasonal spikes during Eid festivals boost numbers by 30 percent. Challenges include varying disposable incomes affected by inflation rates of 9 percent in 2023, per Bangladesh Bank reports, potentially impacting discretionary spending on non-essentials.
Competition and Market Factors
The plaza faces moderate competition from established malls like Eastern Plaza and street markets in Paltan area, where informal retail offers lower prices, capturing 40 percent of budget shoppers according to Knight Frank's 2024 Asia Retail Report. Market saturation in electronics and fashion categories limits growth, with overall Dhaka retail vacancy at 10 percent. Strengths lie in its localized appeal, reducing direct rivalry with super-regional centers. Retailers should consider co-marketing with anchors to enhance visibility, as tenant synergy drives 20 percent higher sales in mixed-use setups per Colliers International insights.
Lease Terms and Operational Risks
Leasing terms at Fantan Plaza include base rents of BDT 90 per sq ft monthly, plus 8-10 percent turnover rent on sales exceeding BDT 500,000 annually, with 5-year minimum commitments and renewal options. Fit-out allowances up to BDT 20 per sq ft are available for qualifying tenants. Risks involve aging infrastructure, with reports of occasional power outages in Dhaka's grid, affecting 15 percent of operations in 2023 per REHAB data. Accessibility issues from traffic congestion can reduce footfall by 10-15 percent during peak hours, advising retailers to factor in delivery logistics. Overall, balanced terms suit emerging brands, but due diligence on maintenance clauses is essential.
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Dhaka
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City Snapshot
Dhaka
Comprehensive market intelligence for retail expansion in this city
