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Ocean Tower Shopping is a mid-sized retail center in the Motijheel commercial district of Dhaka, Bangladesh, operational since 2012 with approximately 100,000 square feet of leasable space across four floors. It positions itself as an accessible urban mall targeting middle-income shoppers, featuring a balanced tenant mix of 35% fashion retailers including local brands like Yellow and Ecstasy, 25% food and beverage outlets such as KFC and local cafes, 20% electronics from Singer and Walton, and 20% services like banks and pharmacies.
Occupancy hovers around 80-85% as per recent commercial real estate reports, supported by steady demand in the central business area. Average rent levels are BDT 80-120 per square foot monthly, competitive for the location but pressured by economic fluctuations in Bangladeshs retail sector.
Accessibility benefits from proximity to major roads like Motijheel C/A and public transport links, though traffic congestion remains a challenge. The demographic profile draws office workers, government employees, and nearby residents with moderate incomes averaging BDT 50,000-100,000 monthly.
Leasing advantages include short-term flexibility for pop-ups and co-tenancy incentives, but drawbacks encompass limited parking (150 spots) leading to spillover issues, aging infrastructure with reported maintenance lapses, and competition from established malls like Bashundhara City and street markets in nearby areas. Footfall estimates at 4,000-8,000 daily visitors, influenced by weekday business traffic but dipping during holidays.
Market factors indicate saturation in budget fashion categories, with risks from supply chain disruptions and rising operational costs post-COVID recovery.
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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
The catchment area encompasses middle-class professionals in Motijheel, Elephant Road, and Paltan, with a population of over 200,000 within a 5km radius and household incomes ranging BDT 40,000-80,000. Footfall averages 5,000 on weekdays driven by lunch-hour crowds and rises to 10,000 on weekends, per local retail analytics. However, seasonal monsoons reduce pedestrian access, and competition from informal markets erodes sustained traffic, impacting conversion rates for non-essential retail.
Tenant Mix and Occupancy
Tenant composition includes anchor stores in apparel and groceries occupying 40% of space, complemented by mid-tier F&B and accessory shops. Occupancy at 82% reflects resilient demand in core categories, but electronics sections show 15% vacancy due to e-commerce shifts. Strengths lie in diverse local brands fostering community appeal, while weaknesses include over-reliance on budget segments vulnerable to economic downturns and inflation, as noted in Cushman & Wakefield reports on Dhaka retail.
Lease Terms and Risks
Base rents start at BDT 90 per square foot with 8-10% annual escalations and optional turnover rents above sales thresholds. Standard leases span 3-5 years, offering renewal options but requiring security deposits equivalent to 3 months rent. Key risks involve traffic-induced accessibility barriers in Dhakas congested core, potential infrastructure upgrades needed for elevators and HVAC systems, and market saturation in fast fashion leading to co-tenancy dependencies. Operational quality is fair, with power backup but occasional outages affecting peak hours performance.
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Dhaka
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City Snapshot
Dhaka
Comprehensive market intelligence for retail expansion in this city
