Major investments are expected in Sabrang Tourism Park in Teknaf in Cox’s Bazar as the government plans to develop tourism in the areas based on sea beach and the surrounding nature.
Sources said that apart from getting commitments from two foreign companies, many local companies are also showing interests in investment in developing tourism park, like recreation parks, hotel, motel, amusement park, floating restaurant, aqua park, fun lake and watch tower.
In addition, some local companies are also showing interests in developing small industries for the production of souvenir items, indigenous products, handicraft, training centers for tour management and development of green energy.
Bangladesh Economic Zones Authority (BEZA) has been leasing out land to the interested companies for fifty years on paying the cost of the developed land in the demarcated park.
In the meantime, some companies that have been allotted land there have already started infrastructure construction work inside the park while some companies are taking preparation to start their work.
Land prices have been rising in the Sabrang tourist area since the beginning of its construction work. Competition has started among the big businessmen of the country including the capital Dhaka to buy land in the Sabrang area as land prices are rising there every day. In the space of five years, the price of land has increased 20 times, locals say.
BEZA officials said that till now they have inked deals for land allocation with seven companies. Of them, Singapore based company Inter- Asia Group PTE is the leading investor.
The company will invest Tk 12,000 crore to build the Sabrang tourist area near Teknaf sea beach. Sabrang Tourist Park will have several international standard hotels, restaurants, cottages, auditoriums, convention halls, nightclubs, bars, beach villas, water villas, amusement parks, car parking, swimming pools, landscaping and other tourist facilities, Inter-Asia said.
Green Orchard Hotels and Resorts and Sunset Bay informed that they will construct a five-star hotel with an investment of Tk 200 crore. Great Outdoor and Adventure is investing Tk 50 crore to build eco-friendly facilities related to sports on three acres of land. They will provide snorkeling, scuba diving, parasailing, beach volleyball etc. for the tourists.
BEZA officials said the investment proposals of four more companies in the Sabrang tourism area have been approved at the BEZA board meeting. The companies are Ifad Autos, Ifad Motors, The Cox Today and Sweet Dream Management. Besides, several other companies, including Bashundhara, the country's leading industrial group, have shown interest in investing in the Sabrang tourism region. Bashundhara wanted 100 acres of land there.
BEZA executive chairman Paban Chowdhury said that, “A tourist-friendly tourist area will be developed in Sabrang where 40,000 tourists will be able to enjoy the beauty of nature there every day upon completion. At the same time, it will create employment for 60,000 people.”
According to BEZA, 30 percent or 315 acres of the park will be used for resorts and hotels, on the shores of the lake, general hotels and service studio apartments. The 63-acre site will have a shopping center, heritage and liberation war museum, amphitheater, convention center, amusement park.
Administrative buildings, hospital, fire station, disaster management center will be set up on 20 acres. There will be a sewage treatment plant, solid waste and e-waste treatment plant, power plant, power substation, water treatment and storage, solar panel and biogas plant on 26 acres of land.
There is a proposal to set up a welfare center and old age home on 13 acres of land. Bus depot, transportation hub, helipad and jetty station will be set up on 8 acres of land. Roads, walkways and bicycle lanes will be kept on 54 acres of land. Beach, Zhaoban, Lake, Central Green and Park will be 51 percent or 527 acres of this park.
Visiting the project area recently it was found that development gained momentum at the Sabrang Tourism Park, as some 800 to 900 acres of land has naturally been reclaimed at Sabrang. A five kilometer (km) long and 15 feet high dam has already been constructed to protect the tourist area from storms and tidal surges. Administrative buildings have also been constructed for the accommodation of officials.
Land development and construction of boundary walls are underway. The Sabrang tourist area has created employment opportunities for the local people, which the locals believe will increase.