The Building Technology and Ideas Limited (bti), a real estate company of Bangladesh, recently signed a memorandum of understanding (MoU) with Shimizu Corporation, a Japanese construction company.

FR Khan, managing director of bti, and Manabu Hirose, general manager of Shimizu Corporation's Bangladesh branch office, inked the MoU at the bti corporate office in Dhaka, said a press release.

The MoU will benefit both bti and Shimizu in enhancing their technical capacities and financial strength. In addition, it will open a new window for foreign direct investment in the real estate sector of Bangladesh, the press release added.

"The MoU will accelerate our pursuit of excellence and help establish benchmarks in Bangladesh's real estate sector by broadening the arena with cross-border engagements," said Khan.

The Japanese company, which successfully carried out constructions of several mega projects in Asia, recently showed interest to invest in Bangladesh through partnerships with Bangladeshi organisations.