Bengal Hotel (IFC-38482)

  • Bangladesh
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 26, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 18.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 4, 2017

Disclosed by Bank Apr 10, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
BHRL has purchased a 2,860 m2 plot of land and is developing a greenfield 350 room business hotel on the Gulshan–Tejgaon link road in Dhaka, Bangladesh (the Project). The Company has commissioned a lead project management consultant and general contractor (PMC). The detailed design of the hotel is under progress. The hotel will have two basements and 25 floors with a built-up area of approximately 37,000 m2. As one of the conditions of its clearance from the local regulatory approval body (Rajuk), the Company has given 483 m2 of land, adjacent to the hotel property, for development of a multistoried (10 stories) parking facility by the local regulatory approval body.Two floors of this parking facility for exclusive use for hotel guests under a lease agreement, renewable every five years. The hotel will be operated under the Swissotel brand, owned earlier by FRHI Holdings Ltd. (also the parent of Fairmont and Raffles brands) and acquired in December 2015 by AccorHotels (Accor). The hotel will have typical facilities of a top of the line hotel including multiple food and beverage outlets, swimming pool, spa and banqueting operations for 600 guests. The construction of the hotel is expected to commence in January 2018 and the hotel is expected to be fully operational in July 2020.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Bengal Hotels and Resorts Limited (BHRL or the Company) is a group company of the Bengal Group (the Group), a well-established, 46 year old, family-owned business house. The Group comprises of six separate legal entities engaged primarily in the production and sale of household plastic products, garments accessories, food & agro products, flexible packaging and a media company. BHRL, incorporated on April 2013, is 100% owned by the owners of Bengal Group. Shareholding structure of BHRL is: Mr. Humayun Kabir (16%), Mr. Jashim Uddin (17%), Mr. Morshed Alam (20%) and other family members. Established in 1969, Bengal Group is a family owned business house in Bangladesh. The Group now comprises of six companies with business interests in plastics, garments accessories, media, food & agro, flexible packaging and a media company. Each company is a separate legal entity and the Group does not have a holding structure. Total Project cost of US$75 million. IFC will invest up to US$18 million as A loan and would mobilize another US$18 million from a development finance institution (DFI).

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Bengal Hotel and Resorts Limited Mr. Humayun Kabir Director +88029885248 Bengal House, 75 Gulshan Avenue, Gulshan 1, Dhaka 1212, Bangladesh ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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