Sheltech

What Sheltech does

Sheltech (Pvt.) Ltd. is a Bangladesh-based real estate developer founded in 1988 and headquartered in Dhaka, focused on residential and commercial construction across Dhaka and Chattogram. The company serves four primary customer segments: middle-to-high-income individual homebuyers seeking quality apartments, commercial property investors purchasing retail and office spaces, landowners partnering through joint-venture development, and Non-Resident Bangladeshis investing in domestic property. Sheltech has delivered 187 projects totaling over 4,650 residential and commercial units, accommodating 21,200+ residents across 8.63 million square feet of developed real estate.

The core product portfolio includes multi-story residential apartment buildings, commercial buildings, large-scale condominiums, and land development projects, with a premium sub-brand called the "Sapphire Series" targeting luxury markets in Dhanmondi, Gulshan, Banani, and Uttara. All buildings are constructed to Bangladesh National Building Code (BNBC) standards with RAJUK regulatory approval, incorporating modern amenities including fire hydrant systems, earthquake-resistant design, high-speed elevators, green spaces, and community facilities. Sheltech holds the distinction of being the first real estate company in Bangladesh to receive ISO 9001:2015 certification and the first to obtain a RAJUK occupancy certificate, supporting its positioning around regulatory compliance, on-time delivery, and construction quality.

The business model is primarily direct-to-consumer with revenue generated through one-time sales of residential and commercial units, supplemented by landowner joint-venture partnerships (where Sheltech provides development, construction, and sales expertise in exchange for shared profits) and ongoing property management services through Sheltech Property Management Ltd. Pricing is quote-based with no publicly disclosed standard rates, though promotional discounts of up to BDT 25 lakh are offered during anniversary fairs. The company distributes through a network of sales offices in Dhaka (corporate headquarters, Jolshiri, Tejgaon) and Chattogram, plus digital channels including website inquiry forms, WhatsApp, and a hotline (16550). Sheltech is privately held and controlled by the Ahmed family following the 2019 passing of founder Dr. Toufiq M. Seraj, with Tanvir Ahmed serving as Managing Director under Chairman Engr. Kutubuddin Ahmed. The group operates an extensive subsidiary network spanning construction engineering, property management, brokerage, ceramics, technology, and unrelated holdings in aviation (Envoy-Sheltech Aviation), meat processing (Bengal Meat), and tea (Sreemangal Tea Estate).

Name

Sheltech

Legal name

Sheltech (Pvt.) Ltd.

Website

https://sheltech-bd.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Sheltech (Pvt.) Ltd. is a Dhaka-based real estate developer founded in 1988, building residential apartments, commercial buildings, and condominiums across Bangladesh. It serves middle-to-high-income homebuyers, commercial investors, and landowner joint-venture partners, with 4,650+ units delivered over 38 years.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

New Housing For-Sale Builders (236117), Nonresidential Building Construction (2362), Land Subdivision (23721)

SIC

General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

Keywords

• Real estate development
• Residential apartments
• Commercial buildings
• Condominium projects
• Joint venture development

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Residential Apartment Sales: Sheltech develops and sells residential apartments across Dhaka and Chattogram. Revenue is generated through one-time sales of completed or under-construction units to individual buyers and families. The company has delivered over 4,650 units across 187 projects.
2. Commercial Space Sales: Development and sale of commercial spaces including office units, retail shops, and mixed-use properties. Projects like Sheltech Legacy Plaza (195 units) and Sheltech Cityscape Heights demonstrate commercial focus.
3. Land Joint Venture Development: Sheltech partners with landowners who contribute land parcels. Sheltech provides development, construction, and sales expertise, with profits shared between parties. The company highlights benefits including maximum ROI, safe construction, and after-handover service.
4. Property Management Services: Sheltech Property Management Ltd. provides ongoing property management services to delivered projects, creating recurring service revenue.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Sheltech (Pvt.) Ltd. is a Bangladesh-based real estate developer that designs, constructs, and sells residential apartment buildings, commercial buildings, and condominium projects in Dhaka and Chattogram. The company operates the premium "Sapphire Series" sub-brand for luxury projects and offers a Landowner Partnership Program where it joint-ventures land development with plot owners, providing in-house design, legal, construction, and post-handover services.

Product overview

Sheltech (Pvt.) Ltd. is a pioneering real estate developer in Bangladesh established in 1988, offering a comprehensive portfolio of residential buildings, commercial buildings, condominiums, and land development projects across Dhaka and Chattogram. The company operates multiple distinct product lines including the premium Sapphire Series for luxury properties, standard residential buildings, and commercial developments. Their project portfolio spans over 100 projects including flagship residential developments like Sheltech Prottasha, Sheltech Winter Berry, and Sheltech Crimson Palace, as well as commercial properties like Sheltech Legacy Plaza and Sheltech Cityscape Heights. The company also offers a landowner partnership program for joint venture developments and maintains offices in Dhaka (Corporate Office, Jolshiri, Tejgaon) and Chattogram. Sheltech is ISO 9001:2015 certified and has delivered over 4,650 units over 38 years.

Differentiator

Problem solved

Functional benefit

Brands

• Sapphire Series: Sheltech's luxury and iconic project series featuring premium residential and commercial properties in sought-after locations with bold designs, top-tier construction, and premium finishes.

Products and services

• Residential Buildings Multi-story residential apartment buildings with various unit sizes, parking, elevators, and community amenities developed across Dhaka in locations including Dhanmondi, Banani, Gulshan, Uttara, and Mohammadpur.
• Commercial Buildings Commercial real estate developments including shopping malls, office spaces, retail units, banquet halls, and restaurants featuring fire safety systems, high-speed elevators, and parking facilities.
• Sapphire Series Sheltech's premium luxury project line featuring the most luxurious and iconic developments in sought-after locations, characterized by bold designs, top-tier construction, and premium finishes.
• Condominiums Large-scale condominium projects with extensive amenities including swimming pools, gymnasiums, community halls, and multiple towers within a single development.
• Land Development Land projects and joint venture opportunities for land development in strategic locations including Ashulia, Singair (Manikganj), and other areas.
• Landowner Partnership Program Joint venture real estate program where Sheltech partners with landowners to develop their land, offering on-time handover, maximum ROI, quality construction, in-house legal and design teams, after-handover service, BNBC compliance, and RAJUK approval with profits shared between parties.
• Sheltech Prottasha Luxury residential building in Dhanmondi R/A, Dhaka under the Sapphire Series brand. A 10-storied (B2+B1+M+G+8) building with 16 apartments of 2,736 sft each with 4 bedrooms, featuring community lounge, gymnasium, reception, green areas, rooftop BBQ zone, and landscaping. Handover scheduled January 2029.
• Sheltech Legacy Plaza Premium commercial shopping mall at Banasree, Rampura, Dhaka. A 17-storied (B3+B2+B1+G+16) building with 195 units including 140 shops, 17 food court shops, 32 office spaces, 4 banquet halls, and 2 restaurants, featuring 8 elevators and escalators. Handover 2029.
• Sheltech Winter Berry Luxury residential apartments in Dhanmondi R/A, Dhaka. 14-storied (B2+B1+G+Community+12) building with 36 units of 2,350-2,751 sft featuring 3-4 bedrooms, rooftop swimming pool, gymnasium, fire hydrant system, BBQ zone, and lavish green areas. Handover November 2029.
• Sheltech Crimson Palace Elegant residential building in Boro Maghbazar, Dhaka. Two-tower complex with 10-storied (B+G+9) buildings totaling 87 units (1,322-1,846 sft each), featuring fire hydrant system, gymnasium, children's play zone, kids swimming pool, rooftop walking track, and community room. Handover March 2029.
• Sheltech Aria Castle Luxury residential building in Gulshan, Dhaka under the Sapphire Series brand, featuring 3-4 bedrooms with sizes 3,075-3,281 sft.
• Sheltech Cityscape Heights Premier commercial building at Kakrail, Dhaka. 21-storied (B3+B2+B1+G+20) commercial building with 43 units (510-4,920 sft each) and 43 parking spaces, featuring exquisite reception, open terrace, lavish green area, and rooftop landscaping. Handover 2030.
• Sheltech Windflower Exclusive condominium project in Adabor, Mohammadpur, Dhaka. Large 10-storied (G+9) condominium with 192 apartments of 1,440 sft each across 4 towers, featuring swimming pool, gymnasium, prayer space, children's play area, lavish green areas, walking track, community hall, convenience shop, and fire hydrant system. Handover March 2028.
• Sheltech Khan Legacy Luxury residential building in Banani, Dhaka under the Sapphire Series with units ranging from 956-3,868 sft. Handover 2028.
• Sheltech Rebecca Mohiuddin Exclusive residential apartments in Dhanmondi R/A, Dhaka. 10-storied (B2+B1+G+9) building with 18 apartments of 2,391 sft, featuring community hall, exquisite lounge, fire hydrant system, gymnasium, high-speed elevators, kids play zone, and rooftop BBQ. Handover October 2028.

Quantifiable outcome

• 187 projects delivered on time
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Berger Paints Bangladesh Ltd.coreStrategic or Co-development Partner · 1 February 2025Sheltech Group and Berger Paints Bangladesh Ltd. strengthened their partnership in February 2025. Berger supplies premium paint and coating solutions for Sheltech's residential and commercial projects, ensuring quality finishes for completed buildings.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Others

• RAJUK (Rajdhani Unnayan Kartripakkha): Bangladesh's capital development authority that regulates building approvals, land use, and occupancy certification in Dhaka. While not a peer, RAJUK is the critical regulatory counterparty whose approvals directly enable Sheltech's project launches and deliveries.

Broad incumbents

• Godrej Properties Limited: Leading Indian real estate developer with premium residential and commercial projects. Comparable in premium-segment positioning (Sapphire Series analog) and large-scale residential development, though operating in different geography.
• DLF Limited: India's largest listed real estate developer with residential and commercial properties across major metros. Comparable as a large established residential developer operating at scale, though broader portfolio and geographic reach than Sheltech.

Direct peers

• Navana Real Estate Limited: Bangladesh real estate developer with residential and commercial focus in Dhaka. Comparable product offering (apartments, commercial space) and target customer segments, with similar JV landowner development model.
• Credence Housing Limited: Bangladesh real estate developer focused on residential apartment construction in Dhaka. Comparable in product offering and customer segment, smaller in scale than Sheltech.
• Rupayan Group: Large Bangladeshi conglomerate with significant real estate development arm building residential and commercial properties in Dhaka. Comparable to Sheltech in commercial real estate development and JV landowner partnerships.
• Eastern Housing Limited: Listed (DSE) Bangladeshi real estate developer with residential and commercial project portfolio. Comparable to Sheltech in core product offering (residential apartments) and Dhaka-centric geography, though Sheltech is privately held and larger in scale.
• Assure Group: Bangladesh-based real estate developer focused on residential and commercial projects in Dhaka and Sylhet. Competes directly with Sheltech on mid-market apartments, JV landowner partnerships, and on-time delivery positioning.
• Building Technology & Ideas (BTI): One of Bangladesh's largest and most recognized real estate developers, BTI builds residential and commercial apartments in Dhaka and Chattogram. Directly comparable to Sheltech in target market, product type (apartments), and customer segment (urban middle/upper-middle income buyers).
• Anwar Landmark Limited: Bangladesh real estate developer with apartment and commercial space projects. Directly competes with Sheltech in Dhaka residential market, with comparable mid-market and premium positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• Xx.com/sheltechprivate
• Facebookfacebook.com/sheltechprivatelimited
• LinkedInlinkedin.com/company/sheltechpvtltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sheltech