“City Bank is buying land in Gulshan and constructing a building.”

City Bank is set to construct a 28-storey state-of-the-art headquarters on a 40-katha plot in the prestigious Gulshan area of Dhaka. The project has already secured approvals from both RAJUK, the capital development authority, and Bangladesh Bank, the nation’s central bank. The decision was ratified by the bank’s board of directors, signalling the commencement of one of the most ambitious real estate projects in the local banking sector.

However, the acquisition has stirred debate, with some property experts and market observers alleging that the bank paid a significantly higher price than the prevailing market rate.

According to sources within the bank, City Bank initially owned a 20-katha plot in Gulshan. The latest transaction involved the strategic purchase of an adjacent 20-katha plot, bringing the total landholding to 40 kathas. The bank reportedly spent BDT 345 crore on the additional acquisition.

The new headquarters will replace the existing 20-katha building, which has already been demolished to make way for the new construction. Five floors of the 28-storey structure will be dedicated to parking facilities, while the remaining 23 floors will house the bank’s principal operations. City Bank’s management emphasises that the additional land provides greater flexibility for expansion and an opportunity to enhance the building’s scale and design.

Masrur Arefin, Managing Director and Chief Executive Officer of City Bank, told the media, “Globally, bank buildings are not just functional—they are architectural landmarks. We intend to set a similar benchmark within Bangladesh’s banking sector. We are grateful to Bangladesh Bank for endorsing our plans, and we aim to complete our new headquarters swiftly so that our operations can move into a dedicated space.”

At present, City Bank’s head office operates from a rented facility in Gulshan. With the new construction underway, the bank’s primary operations have temporarily been relocated. City Bank employs over 7,100 staff and operates a nationwide network of 134 branches and 70 sub-branches, reflecting its significant presence across Bangladesh.

This development marks a bold step for City Bank, combining strategic land acquisition with ambitious architectural vision, and is expected to become a new landmark in Dhaka’s skyline.