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Multiplan Center, located at 69/1 New Elephant Road in central Dhaka, is a 2012-established commercial hub spanning 20,000 sqm gross leasable area over multiple floors, functioning as Bangladesh largest IT-focused shopping destination.
Tenant mix is predominantly technology-oriented, with over 1,000 shops specializing in computers, laptops, software, cameras, printers, and electronics accessories; key anchors include Star Tech, Ryans Computers, Tech Land BD, and HP Retailer, though diversity is limited with minimal apparel, dining, or grocery options. Occupancy rate stands at 92%, signaling robust demand in the IT sector.
Rent levels range from BDT 60 to 100 per square foot monthly (equivalent to 1,500 BDT per sqm), offering competitive pricing for niche retailers relative to general upscale malls. Daily footfall averages 15,000 to 20,000 visitors, totaling 1.2 million annually, supported by proximity to Dhaka University and commercial nodes, with a 25% conversion rate and 90-minute average dwell time.
Accessibility benefits from high public transport usage (70% of arrivals) via buses, CNGs, and rickshaws connecting to key areas like Gulshan and Motijheel, though on-site parking is constrained to 200 spaces, and chronic congestion extends travel by 30-45 minutes.
Demographic profile targets young adults aged 18-35, including students and middle-income professionals (BDT 30,000-80,000 monthly earnings) in a 2.5 million population catchment with 20,000 per sq km density. In Dhaka retail market, it holds a strong niche position amid digital transformation, with IT sector growth at 7% annually and sales per sqm at 50,000 BDT yearly.
Leasing advantages encompass targeted high-intent traffic, reliable infrastructure (central AC, upgraded elevators/escalators), and value rents fostering viability for tech lessees. Drawbacks include e-commerce competition capturing 25-30% of sales, saturation with over 500 citywide IT outlets, limited tenant variety hindering cross-sales, and operational challenges like infrastructure wear from high usage and intermittent power issues.
Overall, suitable for specialized electronics retailers but necessitates countermeasures against online rivals and market saturation.
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Hours of Operation
Hours
| Monday | 10:00 AM — 08:00 PM |
| Tuesday | Closed |
| Wednesday | 10:00 AM — 08:00 PM |
| Thursday | 10:00 AM — 08:00 PM |
| Friday | 10:00 AM — 08:00 PM |
| Saturday | 10:00 AM — 08:00 PM |
| Sunday | 10:00 AM — 08:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Primary visitors are young adults aged 18-35, skewed towards students from adjacent Dhaka University and middle-income professionals earning BDT 30,000-80,000 monthly, in a dense central Dhaka catchment of 2.5 million residents (density over 20,000 per sq km, 1.1% annual growth). Balanced gender mix with slight male dominance due to IT focus; 18% tertiary education level supports tech affinity. Retail spending per capita includes USD 150 on electronics yearly. Daily footfall of 15,000-20,000 drives 1.2 million annual visits, with 6% projected growth, 25% conversion, and 90-minute dwell time. Price sensitivity limits premium sales, while economic pressures may curb discretionary spending; unemployment at 5.3% adds caution to leasing projections.
Competition and Market Factors
Competes with general malls like Bashundhara City for broader shoppers and local tech venues such as IDB Bhaban and Gausia Market for budget buyers, alongside e-commerce platforms (Daraz, Pickaboo) seizing 25-30% of tech sales via 20% click-and-collect and 60% internet penetration. Dhaka IT retail saturation features over 500 outlets; sector growth moderated to 7% from 12% pre-2023 due to rising costs. Niche leadership provides advantage in concentrated purchase-intent traffic, but risks from counterfeit prevalence, digital shifts, and moderate retail crime (mitigated by CCTV/guards) challenge performance. High competitor density demands differentiation through events and loyalty programs (15% penetration).
Lease Terms and Operational Quality
Rents at BDT 60-100 per sq ft monthly offer medium-term flexibility and value for IT specialists, with 92% occupancy and 8% vacancy (2,000 sqm available); annual sales per sqm reach 50,000 BDT. Infrastructure supports operations via central air conditioning, multiple escalators/elevators (2020 upgrades), and quarterly promotions. Limited parking (200 spaces) relies on public transit but deters vehicle-dependent customers; congestion and high usage risk maintenance issues and power disruptions. Strengths in sustained demand and central visibility; drawbacks include e-commerce pressure and infrastructure vigilance needs, with 7% footfall growth potential offset by economic fluctuations impacting middle-income spending.
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City Snapshot
Dhaka
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