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Priyanka Shopping Complex is a four-story retail building located on Mirpur Road near New Market in central Dhaka, Bangladesh, spanning 62,000 square feet with plans for expansion to add eight more floors. Built in 2005, it features a gross leasable area of 20,000 square meters across three levels, currently offering 2,000 square meters of available retail space. The tenant mix focuses on unstiched fabrics, tailoring services, mens Panjabi and sherwani, womens garments including abayas and hijabs, with minor offerings in computer accessories and fast food.
It hosts 100 stores, emphasizing traditional retail strengths in the bustling New Market area, which includes over 440 shops. High occupancy rates of 85-95 percent reflect established demand, supported by daily footfall estimates of 20,000-30,000 visitors in the surrounding area, peaking during festivals like Eid with surges up to 50 percent higher. Annual foot traffic reaches 5,000,000 visitors, with a projected 5 percent yearly growth and average dwell time of 90 minutes.
Accessibility is strong via buses, rickshaws, and major transport routes, though traffic congestion and limited parking (30-500 spaces) pose challenges. The property serves a middle-class demographic within a 5 km primary catchment area of 500,000 people, characterized by a median age of 28 years, household income of 25,000 BDT monthly, and retail spending of 1,800 USD per capita annually. In Dhaka's USD 5 billion retail market, it holds a niche 10-15 percent local share for budget apparel, benefiting from proximity to Dhaka College and residential neighborhoods.
Leasing advantages include competitive rents of BDT 50-80 per square foot monthly (average 1,000 BDT per square meter), 3-5 year terms with 10-15 percent common area maintenance fees, and low entry barriers for small retailers. However, aging infrastructure from 2005, including outdated elevators and wiring, requires ongoing maintenance, while e-commerce growth at 25 percent annually erodes impulse buys in the saturated clothing category, which comprises over 60 percent of tenants.
Operational quality is functional with CCTV security and 20 annual promotional events, but lacks modern amenities to attract younger shoppers. Sales per square meter average 50,000 BDT yearly, with conversion rates at 20 percent amid medium competitor density.
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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
Demographic Profile
The primary catchment area spans 5 km with 500,000 residents, featuring a median age of 28 years, household size of 4.5 persons, 15 percent tertiary education level, median monthly income of 25,000 BDT, and 4.5 percent unemployment. Retail spending per capita is 1,800 USD annually, including 50 USD on apparel, 300 USD on groceries, and 40 USD on electronics. This middle-class profile, including students from nearby Dhaka College, local families, and office workers, supports consistent demand for affordable clothing and tailoring, though economic slowdowns could impact discretionary spending in this budget-conscious segment.
Competitive Landscape
Competition arises from larger modern malls like Bashundhara City, offering air-conditioned spaces and entertainment that draw premium footfall away from traditional complexes. The clothing category faces saturation with over 60 percent of New Market tenants in apparel, alongside high e-commerce penetration at 60 percent internet access and 25 percent annual growth, reducing impulse purchases. Medium competitor density and a new tenant pipeline of 10 units highlight risks of price wars and margin compression, while central location maintains resilience for niche, low-cost retailers in a USD 5 billion market with 90 percent overall occupancy.
Lease Terms and Risks
Lease terms offer 3-5 year agreements at BDT 50-80 per square foot monthly, with 10-15 percent common area maintenance fees and potential 5-7 percent annual escalations in longer terms. Flexibility is medium, with 10 percent vacancy rate. Risks include aging infrastructure maintenance costs, seasonal footfall dips outside festivals, and e-commerce erosion of sales, currently at 50,000 BDT per square meter yearly. Operational challenges like traffic congestion and parking scarcity affect deliveries, while retail crime at 2 percent and click-and-collect adoption at 15 percent underscore the need for digital integration to mitigate 25 percent e-commerce growth impacts.
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Dhaka
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City Snapshot
Dhaka
Comprehensive market intelligence for retail expansion in this city
