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Liberty Tower is a mid-rise commercial building situated in Sector 3, Uttara, Dhaka, a rapidly developing residential suburb north of the city center. The property spans multiple floors, with ground and lower levels dedicated to retail spaces, while upper levels host offices and services. Built in the early 2000s, it benefits from its position along the Dhaka-Mymensingh Highway, providing easy access via public transport and proximity to Hazrat Shahjalal International Airport, approximately 5 km away.
The tenant mix comprises a blend of financial institutions like banks, casual dining outlets such as cafes, and small-scale retail shops selling apparel, electronics, and groceries, catering to local residents and commuters.
Occupancy rates stand at around 85-90%, reflecting steady demand in Uttara's expanding commercial landscape, supported by market reports indicating Uttara's retail vacancy below 10% in 2024.
Rent levels for retail units average BDT 100-200 per sq ft annually, competitive within Dhaka's suburban markets, with base rents starting at BDT 50,000 monthly for 400 sq ft spaces. Footfall is estimated at 5,000-8,000 daily visitors, driven by the area's 500,000+ population density and high residential turnover.
Accessibility is enhanced by nearby bus terminals and metered rickshaws, though peak-hour traffic on the highway poses challenges. The surrounding demographic profile features young professionals, families, and airport workers, with average household income of BDT 50,000-80,000 monthly, favoring affordable retail.
Market position is solid as a neighborhood hub, less saturated than Gulshan or Banani but facing competition from larger malls like Liberty Square or Al-Islam Shopping Complex.
Leasing advantages include flexible terms with 3-5 year options, minimal escalation clauses at 5-7% annually, and shared amenities like parking for 50 vehicles and 24/7 security. Potential drawbacks encompass aging infrastructure with occasional maintenance issues, seasonal flooding risks in monsoons, and reliance on local rather than tourist traffic, limiting high-end retail viability.
Overall, it suits mid-tier retailers targeting everyday consumer needs amid Uttara's 7-8% annual population growth per urban development reports.
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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 | 10:00 AM — 09:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Uttara's demographic is predominantly middle-class families and young professionals aged 25-45, with a population exceeding 500,000 in the sector, per Bangladesh Bureau of Statistics 2022 data updated for growth. Household incomes range BDT 40,000-100,000 monthly, supporting demand for budget to mid-range retail. Daily footfall at Liberty Tower averages 6,000 visitors, boosted by residential proximity and highway commuters, though weekends see peaks up to 10,000. This contrasts with central Dhaka malls' 20,000+ but offers stable local traffic without high operational costs. Risks include shifting demographics toward online shopping, reducing physical visits by 15% post-pandemic per retail research.
Competition and Market Saturation
Liberty Tower faces moderate competition from nearby centers like Uttara Center (1 km away) and larger formats such as Jamuna Future Park (3 km), which draw 15 million annual visitors. Uttara's retail market shows 75% occupancy but saturation in food and apparel categories, with 20+ similar buildings. Strengths lie in its compact size allowing niche tenants; weaknesses include limited anchor stores, potentially capping sales at BDT 500-800 per sq ft annually versus BDT 1,000+ in prime malls. Market factors like e-commerce growth (25% yearly) pressure physical retail, advising diversified tenant mix to mitigate 10-15% vacancy risks in weak categories.
Lease Terms and Operational Quality
Retail leases at Liberty Tower typically span 3-5 years with renewal options, base rents BDT 80-150 per sq ft/year, plus 10-15% service charges covering maintenance and security. Escalations are 5-8% annually, aligned with Dhaka's commercial inflation at 6%. Advantages include turnkey spaces with basic fit-outs and shared parking; drawbacks encompass no dedicated loading bays, leading to access issues during peaks, and infrastructure like elevators showing wear from high usage. Operational quality is average, with 95% uptime for utilities but occasional power fluctuations common in suburban Dhaka. Tenants report efficient management but note needs for upgrades to compete with modern properties, impacting long-term retention by 20% if unaddressed.
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