Right across from Gulshan Club in the capital is a large empty plot of land. In an upscale area like Gulshan-2, no vacant one-bigha plot is left. The property is worth at least BDT 2 billion according to current market value. The owner of this valuable property is Nasrul Hamid Bipu, former state minister for Power, Energy, and Mineral Resources in the ousted Awami League (AL) government. Attempts have been made to sell the land for the past two months, but no suitable buyer has been found yet.

Alongside this valuable plot in Gulshan, Nasrul Hamid also owns five bighas of land on the 100-feet road in Madani Avenue, Dhaka. He developed the land like a garden house. Before fleeing after losing power, Bipu used to hang out there regularly with family and friends. Recently, this property is also being offered for sale. Even at a rate of BDT 20 million per katha, the land is worth around BDT 2 billion. However, since no buyer is available for such a large property, his company, Hamid Real Estate, is now trying to sell it in smaller plots.

Although these two large plots haven’t been sold yet, Nasrul Hamid has already sold several smaller plots and houses in Gulshan, Banani, and Niketan. Sources say a large portion of the money from those sales has been sent abroad through hundi (illegal channels). According to various sources, the former state minister, known as the “cashier” of the Sheikh Hasina family, is staying in Kolkata.

A powerful businessman in the power sector, speaking anonymously to Bonik Barta, said, “For the past two months, Nasrul Hamid has been calling me, asking me to buy his land in Gulshan or Madani Avenue. But in the current situation, buying his land is too risky. Also, I don’t have that much money at the moment. So I had to decline.”

The businessman also said, “Nasrul Hamid told me he wants to sell most of his properties. He asked me to help find buyers. I’ve heard he has sold several small plots and houses.”

Another businessman who tracks hundi (illegal money transfer) activities said that Nasrul Hamid, along with many fugitive MPs and ministers from the Awami League, is sending money from property sales to Europe, the US, and Canada. They already have houses and cars in those countries. Their wives and children have been living there for some time. Both of Nasrul Hamid’s children live abroad. A Bangladeshi businessman living in the UAE is reportedly helping Nasrul Hamid and other Awami League leaders with money laundering.

Nasrul Hamid Bipu served as the state minister for power, energy, and mineral resources for more than a decade since 2014. The full minister in charge was none other than then-Prime Minister Sheikh Hasina. Over the past 15 years, this ministry saw the highest financial waste and corruption levels. Allegedly, Nasrul Hamid built a massive empire using money earned through business, bribery, and corruption. He also owns property and businesses outside Dhaka in different parts of the country.

Over the last 15 years under the Awami League government, over 30 billion dollars have been invested in the power sector. At the current exchange rate (BDT 122 per dollar), this equals around BDT 3.66 trillion. From the 2009–10 to 2021–22 fiscal years alone, 28.3 billion dollars (about BDT 3.46 trillion) were invested in the power sector. Nasrul Hamid himself shared these figures in the National Parliament in 2022.

Over the past 15 years, Bangladesh has approved dozens of renewable energy projects. These were approved under a special law related to the power and energy sector. According to this law, the minister of power, energy, and mineral resources could approve projects through direct negotiation without formal bidding. Since Sheikh Hasina was in charge of this ministry herself, Nasrul Hamid had complete control over the entire sector, as many allege. Using the powers of this law, he approved various projects and power plants.

Several businessmen from the power sector said that in the past decade, every power plant approved in the country involved bribes paid to Nasrul Hamid. They believe he received billions of BDT in bribes from this sector alone.

Besides the power sector, Nasrul Hamid also took a cut from the import of LPG and LNG. In 2021, the government planned to build a large terminal for LPG imports. Nasrul Hamid opened a shell company in Singapore under his uncle’s name to secure this big investment project. He tried to influence the selection of this company, along with two other international companies — Vitol (based in Switzerland) and Marubeni Corporation (from Japan) — for a 305 million-dollar LPG terminal contract. When this serious corruption was exposed, Nasrul Hamid withdrew from the deal.

Nasrul Hamid’s family business was in real estate. Their family company is called the Hamid Group. Under this group, several companies operate: Hamid Real Estate Construction Ltd., Hamid Construction Ltd., Delco Business Associates Ltd., Hamid Economic Zone, Hamid Fashion Ltd., Hamid Sweater Ltd., and Hamid Agro Ltd. The group’s real estate brand is called “Priyoprangon.” The group’s managing director (MD) is Nasrul Hamid’s brother, Intekhabul Hamid Apu. Like Nasrul Hamid, he is also currently on the run.

Efforts were made to get comments from Nasrul Hamid or his brother Intekhabul Hamid about the property sales. But they could not be reached. Their mobile numbers were found switched off. Even visiting the Hamid Group’s head office at Kamal Ataturk Avenue in Banani did not help. No official was available to comment.

However, Bonik Barta spoke to some officials from various group companies. They did not want to be quoted by name.

One official from Hamid Real Estate Construction Ltd. said,

“Nasrul Hamid Bipu and his family own property worth at least BDT 80 billion. Until August 5 of last year, the companies were doing business normally. But after that, the situation kept getting worse. Many employees have already been laid off or sent on leave. The real estate business is in a very bad condition. Some lands have already been taken over illegally.”

Under Hamid Real Estate, two housing projects—Priyoprangon-1 and Priyoprangon-2—were developed in Keraniganj, Dhaka. For over twenty years, the group has sold plots here in both cash and installment payment systems. There were also allegations of forceful land purchases during the project’s early days. Some locals claimed they were forced to sell land at lower prices than the market rate.

Priyoprangon-2 is located near the Dhaka-Mawa highway in the Rajendrapur area of the Dhaka-Mawa Expressway. On-site observation showed large billboards advertising plot sales. However, the roads inside the housing area are not fully built, and there are no proper living facilities. A lone security guard was seen at the main gate. Only a few buildings are under construction, and most of the plots remain empty.

Local resident Meher Ullah said that during the development of this area, many people were forced to sell land below market value. Due to Bipu’s political influence, landowners had no chance to bargain. As a result, many suffered financial losses after selling land to the Priyoprangon housing project.

There have been complaints that buyers are not getting land registration in the Priyoprangon residential area even after full payment. Many such complaints are found on the company’s Facebook page. One buyer, Hemayet Hossain, said he bought a 3-katha plot in 2008 through installments. He completed all payments by 2012. But still, he has not received the plot. He told Bonik Barta, “Every year, they promise registration, but I’ve never received the papers. The residential project has made no progress either. It feels like all my money is wasted.”

Another buyer, Shafiqul Islam Mamun, had a similar experience. He bought a plot in Priyoprangon-2 in 2017. But he still hasn’t received the documents.

He said, “The company is not giving the land papers. I’ve visited many times, but nothing happened. Now, I can’t even reach them. I asked for a refund if they couldn’t give me the land. I’ve been stuck in this problem for eight years.”

Hamid Group used political power to build an economic zone in Trishal, Mymensingh, outside Dhaka. It was set up on 153 acres of land next to the Dhaka-Mymensingh highway in Narayanpur and Khagadi Para Mouza. The Bangladesh Economic Zones Authority (BEZA) approved this project on December 26, 2018. There are also complaints that land was grabbed or bought below market price for this project.

In Keraniganj, locals said that Nasrul Hamid’s word was law for the past 15 years. However, after the public uprising, many people reclaimed lands taken from them. Nasrul had already sold those lands as plots to various people. Now, a senior BNP leader is said to be managing Nasrul’s properties. His followers have allegedly started grabbing land again.

The Anti-Corruption Commission (ACC) has filed a case against Nasrul Hamid Bipu. He is accused of illegal wealth and suspicious transactions worth BDT 31.81 billion in 98 bank accounts. Separate cases have also been filed against his wife, Seema Hamid, and son, Zarif Hamid, for wealth beyond known income. These cases were filed in December.

On August 22, 2023, the ACC began investigating corruption allegations against him. That day, a joint task force raided Hamid Group’s office inside the Priyoprangon building. They seized cash, foreign currency, weapons, bullets, and other items from several vaults.