Real Estate and Property Transactions
Rahman’s Chambers’ Corporate department comprising lawyers with significant expertise in M&A (land acquisition), who ensure the best quality of services & on-time delivery. We have a strong ability to meet the demand of our clients by conducting due diligence of any size of land/building located anywhere in Bangladesh. Our team comprises both senior and junior lawyers with different abilities and exposures needed for such complex work. whilst he also assists clients with M&A and employment law. Chambers and Partners Asia Pacific 2021 ranked Mohammed Forrukh Rahman for Corporate and Finance(Band 2)and states: “…assists clients with M&A and employment law. A client says he gives very precise advice on how to deal with procedural issues and has an eye for detail, providing almost immediate responses.”. The leading directory also ranked Rahman’s Chambersfor Corporate and Finance and reviewed: “It is a highly efficient team which always offers timely support”; ”A client comments that “they are very quick to come back to us with solutions and have been very helpful in giving advice on local laws, regulations and requirements.”
“…they are very quick to come back to us with solutionsand have been very helpful in giving advice on local laws, regulations and requirements.”.
–Chambers & Partners, 2021
“Additionally has a recognised practice in such areas as business formation, projects and energy, real estateand employment matters.
–Chambers & Partners, 2020
Mr. Mohammed Forrukh Rahman has been consecutively ranked (Band II) for Corporate & Finance.
“he is a knowledgeable and very co-operative person. I have discussed many issues with him and he gives me the right suggestions.”
–Chambers & Partners, 2019
“Their response times are excellent and they make you feel generally very well informed..”
–Chambers & Partners, 2018
Our completed matters are:
DUE DILIGENCE AND SEARCH
- Conducted due diligence of 695 acres of land for Velcan Energy Mauritius Ltd, a solar power company from Mauritius.
- Conducted Due Diligence for CCCC for industrial lease of a land located at the bank of Karnaphuli river for the purpose of operational & maintenance of dredgers.
- Conducted complex Land Due Diligence involving transaction of USD $ 2 Million.
- Conducted Land Due Diligence on real estate matters for a Hong Kong based company namely, Vanessa Enterprise Ltd.
- Conducted due diligence of 768 acres of land for First Security Islami Bank Limited.
- Due diligence of a number of lands for Bangladesh Infrastructure Finance Fund Limited (BIFFL).
- Advised on the EC4J project funded by Government of Bangladesh, Ministry of Commerce and World Bank on establishing numerous self-sustaining Technology Centers (TCs) in different parts of Bangladesh with a view to advancing R&D, innovation, technology, enabling technological-based testing facilities and bringing competitiveness in different export earning sectors and ensuring diversification of job and national earning, etc. As a part of the creation of a number of TCs, which are basically self-sustaining companies limited by guarantees, we assisted clients on M& A (land Acquisition) in different locations.
- Conducted several searches at Sub Registry office; AC Land office; DC office, and provided due diligence report for acquiring land for a top multinational garment’s manufacturer of the world, and on completion of acquisition we also assisted them in mutating its name in the latest survey for nearly 10 times involving same transactions.
COMMERCIAL AND INDUSTRIAL LEASE
- Advised a number of companies in drafting commercial lease agreement for several years and advised a few of them in registering the same.
- Drafted and assisted registration of lease for several companies.
- Drafted and assisted registration of lease for several companies & individuals for many years.
EPZ/ECONOMIC ZONES/HIGH-TECH PARK
- Involved in the acquisition of 10.0 (Ten) acres (40,468.60 square meter) of developed land situated in Mirsarai-Feni Economic Zones in Bangabandhu Sheikh Mujib Shilpa Nagar under Bangladesh Economic Zone Authority (BEZA), along with advising and negotiating various critical terms and conditions of such lease.
- Involved in the lease of 16350 sqm or 4 acres land for value USD 2 Million for 40 years in Bangabandhu Hi-Tech City situated at Kaliakoir, Gazipur, Bangladesh under Bangladesh Hi-Tech Park Authority, under Information and Communication Technology Division, along with advising and negotiating various critical terms and conditions of such lease.
- Due diligence for a Hong Kong-based garments for setting up business in Special Economic Zones and EPZ in Bangladesh.
MUTATION AND RECORD CORRECTIONS
- Handled Due diligence, registration and mutation for Saturn Textiles Ltd., a foreign investor.
LAND DEVELOPMENT/JOINT VENTURES
- Handled several joint venture land development and building construction agreement and power of attorney for and against the developer.
OTHER LAND INTERESTS
- Advised individual clients on several land-related interests.
- Handled complex transfer of mortgaged land from one entity to another for Leatherex Footwear Ins. Ltd.
- Several searches, due diligence, mortgage, second mortgage, power of attorney registration, redemption, revocation etc. for several banks.
Practice Guide – Corporate
Real estate and Property related legal issues can be divided into (a) freehold land and buildings matters, (b) leasehold land and building matters, and (c) real estate development matters. Before the acquisition, purchase of land, or long-term lease for commercial purpose clients often require a comprehensive due diligence report on several complex matters involving authenticity, title, possession & history of land transfer. The same can only be provided by a physical search of books and records in a number of offices, besides physical survey is often required to locate & measure the land. On completion of due diligence, if land/building/apartment is found satisfactory, the client often needs assistance in preparing registration of Deed of Agreement for Sale (Baina); Sale Deed; Lease Agreement, etc. followed by mutation. Dealing with land matters is a very complex affair in Bangladesh as there is no option for online searching. Clients who haven’t taken legal assistance at the time of acquisition or rent does, later on, find themselves falling into disputes involving ownership, possession, etc. Legal assistance is often required in resolving disputes in different tribunals & courts, which is a time-consuming affair. Understanding Land documents require significant experiences in the Bangladesh context as land documents are complex by nature. Besides, searching genuineness of documents in land offices and completing registration and mutation etc. are skilled based work requiring a high level of understanding and experience in Land matters.
We regularly conduct due diligence for client both local and foreign with regard to the status of the title deed, Khatians, Mutation, ground rent etc. whether those are genuine or not by visiting concerned sub registry, land offices, survey office. Such search are conducted by our senior associate of not less than 7 years experience as land documents are complicated. We also provide client with vetting of property by checking 25 years chain of ownership, consistency of documents, cross checking whether the documents are match for each other and any vital document is missing or not.
Chambers has 10 long years expertise in helping clients with acquisition of Land and building. Both business and individual client take our service in such matters.
- Advised, negotiated, conducted due diligence and prepared entire Acquisition transactions documents and assisted in registering and mutation of 54 decimal land for GILDAN Activewear [G.A.B. Limited, Bangladesh] within Dist.-Dhaka, Upzilla-Saver, Police Station- Ashulia, Union-Dhamsona, Village-Baipail, Sub-Registrar Office-Ashulia, Mouza Baipail from three individual land owners involving complex agreement with bank on loan repayment, redemption of mortgage and revocations.
- Advised, negotiated, conducted due diligence and prepared entire Acquisition transactions documents and assisted in registering and mutation of 63 decimal land for GILDAN Activewear [G.A.B. Limited, Bangladesh] within Dist.-Dhaka, Upzilla-Saver, Police Station- Ashulia, Union-Dhamsona, Village-Baipail, Sub-Registrar Office-Ashulia, Mouza Baipail from many individual land owners involving complex Compromise Judgment & Decree and Solenama for cancellation of Heba etc.
- Advised, negotiated, conducted due diligence and prepared entire Acquisition transactions documents and assisted in registering and mutation of 8 decimal land for GILDAN Activewear [G.A.B. Limited, Bangladesh] within Dist.-Dhaka, Upzilla-Saver, Police Station- Ashulia, Union-Dhamsona, Village-Baipail, Sub-Registrar Office-Ashulia, Mouza Baipail from individual land owners.
The chambers has drafted/vetted several Joint Venture and Power of Attorney both for Landowner and Developer company where both parties are actually forming a joint venture akin to partnership where one party is contributing land and other is contributing by financing the project, constructing the building. Besides, the Chambers has very unique experience of drafting simple construction agreement for landowner where the developer were engaged only for construction and develop at the expense of client. We vet/prepare deed of agreement for sale(Baina), Dee of sale, Deed of agreement etc. and assist client with registration process.
Due diligence and search is required for long term lease of plot /floor for commercial use. We assist client with drafting lease agreement suitable for commercial use. We have provided such services to many Chinese companies.
Land and building being immovable properties and prone to disputes has different legal and regulatory compliance for maintaining strong records of title. The same are m survey record mortgage registration with RJsc and sub registry etc. Besides found rent and city corporation tax are also relevant with land. Maintain up to date record for survey by mutation is important. Our strong team of lawyers ensures that every aspect of Land recording is completed and up to date
Our Related Clients
- Leatherex Footwear Industries Ltd
- Seven Properties Ltd
- Saturn Textiles Ltd
- Perseus Ltd
- Lifan Sujan Group
- JBEC Ltd
- United Commercial Bank Ltd
- First Security Islami bank Ltd
- Individual clients
Related Resources - Library
The value of law reports in the legal profession cannot be overemphasized. They can be regarded as the life-wire of the legal profession. We have a rich library with a mixture of printed and online legal databases. We have printed version of All England Commercial Cases, Indian Digest of Supreme Court cases, Yearbook Commercial Arbitration of Wolter Kluwer and most law reports of Bangladesh. We subscribe to the online legal database Manuputra providing access to most reputed law reports. Read more
Our Reported Cases
Dr. Moosa Bin Shamsher vs. Ayub Ali & Others 2 LNJ (2013) 18C, 2 LNJ (2013) 1