Bangladesh, Nov. 8 -- Around Tk 500 billion could become entangled in lawsuits and legal complications over the next two to three years if the government fails to regulate the unregulated share-based housing business, Real Estate and Housing Association of Bangladesh (REHAB) warned on Sunday.

REHAB president Ali Afzal made the warning at a press conference at the CIRDAP Auditorium in the capital, saying around 40,000 citizens have already been affected by this business model.

REHAB said various individuals and organisations are running share-based housing businesses without ensuring transparency in land ownership, project approval, construction capacity and the use of collected funds, exposing buyers to fraud, financial losses and lega...