Its proximity to the bank's existing headquarters, however, made the location strategically important. "Because the land adjoins our head office, the purchase was finalised after negotiation," he added. "The board reviewed both the land valuation and the construction cost, considering the need for a functional and visually appealing building. "In a disclosure to the Dhaka Stock Exchange on Thursday, City Bank said it received Bangladesh Bank's no-objection on Jan 6 for the land purchase.Approval for construction will be sought separately before obtaining clearances from other authorities, it added.The bank said it obtained valuation reports from two firms. City Engineering Inspection Company assessed the land value at Tk 175 million per katha, putting the total price at Tk 3.5 billion.Another firm, Nandanick Bangladesh, valued the land at Tk 178.2 million per katha, estimating the total at Tk 3.56 billion.

Source: bd News24 January 11, 2026 18:37 UTC