He and his nephew, Khwaja Alimullah, were the founding members of the Dhaka Nawab Estate, the largest zamindari held by any landholder in Eastern Bengal during the British colonial period.
[2] Hafizullah collaborated with the Greek and Armenian merchants in Dhaka and developed a business in hides, skins, salt and spices.
Under the act of the Permanent Settlement of Bengal, he bought some lots for the estate.
In 1806, he acquired his first lot in the Atia pargana in the then Mymensingh district for a 4-anna share of a mortgage bond for Rs.
[1] On his death, his estate was inherited by his nephew Khwaja Alimullah, a son of his elder brother Ahsanullah.