Reforestation efforts in Bangladesh need information on the biophysical performance and social suitability of potential species. We investigated the biophysical and social suitability of three species, Acacia auriculiformis Benth (Leguminosae, Mimosaceae), Acacia mangium Willd., and Eucalyptus camaldulensis Dehnh. (Myrtaceae) in 8-year-old monoculture plantations for reforestation of woodlots in Dhaka Forest Division, Bangladesh. The prevailing site conditions of the study area were suitable for all three species. Seven regression models were tested to find the best-fit model for volume and productivity calculation of each species. A simple linear regression model as a function of height (h) and diameter at breast height (dbh), i.e. V = b0 + b1 (dbh + dbh2 + dbh2 × h) was selected to compute volume and productivity for all three species. Survival, average height, productivity, and gross revenue earned from A. mangium were greatest, followed by A. auriculiformis; both were substantially higher than E. camaldulensis. Local people preferred A. auriculiformis most, followed by A. mangium and finally E. camaldulensis. However, the discrepancy between the productivity/revenue projections and local perception index suggests that there should be sufficient attention paid to both the interests and objectives of implementing agencies, as well as the needs and preferences of rural communities in selecting suitable species for future woodlot establishment in the same site. Therefore, the findings of this study serve as a benchmark for more in-depth investigation regarding preferences, and gaining an historical perspective on how a more secure market might affect local people's choice of species.