Not only abroad, but also within Bangladesh, ousted state minister for power, energy and mineral resources Nasrul Hamid Bipu amassed nearly Tk 2,000 crore worth of illicit assets under the names of family members.
Following the fall of the Awami League government in August, the now-fugitive politician reportedly sold off most of these properties. Investigations reveal that between August and March, Bipu laundered close to Tk 1,000 crore worth of assets held in both his own name and that of proxies.
One particularly large plot of land sits across from the Gulshan Club in Dhaka, now mostly vacant. With a current estimated market value of at least Tk 200 crore, the plot belongs to Bipu. Efforts to sell the land over the past three months have been unsuccessful due to the absence of suitable buyers.
In addition, he owns five bighas of land along Madani Avenue in Dhaka, styled after a countryside estate. Prior to fleeing, Bipu frequently hosted gatherings there with family and friends.
This property is now also up for sale. At Tk 2 crore per katha, the plot is valued at approximately Tk 200 crore. Failing to attract bulk buyers, Hamid Real Estate—part of the family’s business empire—has begun parceling the land into smaller plots.
While the larger plots remain unsold, multiple smaller plots and houses in Gulshan, Banani, and Niketan have reportedly already been liquidated. A significant portion of the proceeds has been transferred abroad via illegal hundi channels.
According to a businessman familiar with such networks, Bipu and several other fugitive Awami League ministers and MPs are funnelling their funds to Europe, the US, and Canada—where they and their families have long maintained homes. Bipu's two children also reside abroad.
Over his decade-long tenure as state minister—under the direct oversight of Prime Minister Sheikh Hasina—Bipu oversaw one of the largest sectors of financial abuse and wastage in government. Through personal business dealings and bribery, he is alleged to have built a vast empire.
He owns properties and businesses across the country. His family firm, Hamid Group, includes Hamid Real Estate Construction Ltd, Hamid Construction Ltd, Delco Business Associate Ltd, Hamid Economic Zone, Hamid Fashion Ltd, Hamid Sweater Ltd, and Hamid Agro Ltd. The real estate brand of the group is marketed as "Priyo Prangon," managed by his brother Intekhabul Hamid Apu—who is also now on the run.
According to an official at Hamid Real Estate Construction Ltd, "The Hamid family’s asset value exceeds Tk 8,000 crore. Until August 5 last year, the businesses were thriving. Since then, things have steadily worsened. Employees are being laid off or put on leave, and the real estate wing is struggling. Several plots have already been seized."
Two residential developments—Priyo Prangon-1 and Priyo Prangon-2—were established in Keraniganj under the Hamid Group. Plots were sold both outright and via instalments for over two decades. Allegations of forced land acquisition and underpriced purchases have persisted.
The Dhaka-Mawa Expressway-side project Priyo Prangon-2 still lacks proper roads and infrastructure. Many plots remain vacant, and buyers complain of long delays in land registration even after full payment.
Misuse of power extended to the group’s establishment of the Hamid Economic Zone in Trishal, Mymensingh, spanning 153 acres alongside the Dhaka-Mymensingh Highway. Approved by BEZA in 2018, the zone’s land acquisition has been fraught with allegations of coercion and underpayment.
Locals in Keraniganj recall that for over 15 years, Bipu's word was law. Since the student-popular uprising, many have reclaimed lands previously seized and sold by Bipu’s group. Notably, while serving as a member of the parliamentary standing committee on public works and housing, Bipu used his influence to delay policies needed for RAJUK’s Jhilimili Phase 2 project—ultimately occupying hundreds of acres of government land to build Priyo Prangon.
Internal RAJUK sources confirm that Bipu deliberately blocked approvals from the ministry, hindering the first and second phases of the Jhilimili project. These actions were widely acknowledged by then-RAJUK chairman Engineer Md Nurul Huda.
Further investigation reveals Bipu's rapid expansion in housing ventures, including a luxury project named "Alifiya River View" under his daughter Alifa Hamid. This, too, was established without proper transparency in land acquisition.
This elaborate network of abuse, asset laundering, and unauthorised land grabbing paints a grim picture of Bipu’s decade-long reign—and the challenges now facing any effort to reclaim public assets or hold him accountable.
Bd-pratidin English/FNC
