Dutch-Bangla Bank has decided to purchase a commercial building in Dhaka’s Motijheel to house its head office, at a cost of Tk 10.16 billion.

The decision was approved at a board meeting on August 26, the bank said in a disclosure posted Tuesday on the Dhaka Stock Exchange (DSE) website.

The 21.5-storey building, located in the 47 Motijheel commercial area, has a total space of approximately 207,340 square feet, comprising 176,300 square feet of floor space and 31,040 square feet in the basement.

Execution of the plan will depend on regulatory clearance from the Bangladesh Bank.

Despite the announcement, Dutch-Bangla Bank’s shares fell by 1% to Tk 41.50 on the DSE.

According to exchange data, the bank has reserves and surplus of about Tk 42 billion, with a paid-up capital of Tk 9.66 billion.