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Uday Tower is a 23-story commercial high-rise located at 57 Gulshan Avenue in the prestigious Gulshan-1 area of Dhaka, Bangladesh. Constructed around 2010, the property primarily offers office spaces but includes ground-floor retail opportunities in one of Dhaka"s most affluent business districts. Positioned near Gulshan Circle-1, it enjoys high visibility and footfall from surrounding corporate offices, diplomatic missions, and upscale residential areas.
The demographic profile features high-income professionals, expatriates, and business executives, contributing to strong purchasing power.
Occupancy rates for similar properties in Gulshan hover around 85-95%, driven by demand from multinational firms. Retail rent levels typically range from BDT 150 to 250 per square foot monthly, higher than city averages due to the premium location.
Tenant mix comprises corporate tenants on upper floors, with ground-level retail including fashion boutiques, cafes, and services catering to office workers.
Accessibility is facilitated by proximity to major roads like Gulshan Avenue and Airport Road, though Dhaka"s traffic congestion poses challenges. The property offers modern amenities such as four basements for parking, multiple elevators, 24-hour security, and CCTV coverage. Market reports from sources like CBRE indicate Gulshan as a top-tier submarket with annual rental growth of 5-7%. However, potential drawbacks include high operational costs, intense competition from nearby retail hubs like Gulshan Shopping Mall and Bashundhara City, and vulnerability to economic fluctuations affecting corporate leasing.
Overall, it presents a solid opportunity for retailers targeting upscale consumers, balanced by location-specific risks like urban density and infrastructure strain.
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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
Gulshan-1 attracts a affluent demographic with average household incomes exceeding BDT 200,000 monthly, including 40% expatriates and 60% local professionals in finance, IT, and diplomacy. Footfall estimates reach 10,000-15,000 daily visitors, boosted by office density of over 5 million sq ft in the vicinity. Retail performance benefits from this high-spending group, with categories like luxury goods and quick-service food showing 20% higher sales than city averages. However, seasonal dips occur during holidays or monsoons, impacting consistent traffic.
Competitive Landscape
Uday Tower faces competition from established malls like Jamuna Future Park (10 km away, 1.5 million sq ft GLA) and local spots such as Gulshan Dhanmondi Link Road shops. Tenant mix overlaps with fashion and F&B, leading to market saturation in premium segments; occupancy in competing properties is 80-90%. Strengths include hyper-local appeal and lower entry barriers for niche retailers, but risks involve footfall diversion to larger anchors like Shoprite or international chains, potentially reducing capture rates by 15-20% during peak hours.
Lease Terms and Risks
Retail leases in Uday Tower typically span 3-5 years with base rents of BDT 150-250/sq ft, plus 10-15% service charges for maintenance and utilities. Escalation clauses apply 5-10% annually, aligned with inflation. Advantages include flexible fit-out allowances up to BDT 50/sq ft and prime corner positioning for signage. Drawbacks encompass high security deposits (3-6 months rent) and potential infrastructure aging, as the building nears 15 years; reports note occasional elevator downtime in similar structures. Market saturation in Gulshan raises renewal risks, with 20% of leases not renewing due to rent hikes.
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Dhaka
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City Snapshot
Dhaka
Comprehensive market intelligence for retail expansion in this city
