The High Court has instructed Borak Real Estate Limited to transfer 40% of its building, currently housing Sheraton Dhaka, to Dhaka North City Corporation within a month. The court order stems from an existing agreement between the real estate firm and the city corporation. The court has set 9 October 2023 for further proceedings. Around 55% to 60% of the building, including common spaces and shops, is owned by the city corporation, which is awaiting approval from the local government ministry. The case was initiated following a report about a “Five-Star Hotel on Government Land.” The verdict reflects a resolution to a matter pending since 2015, with legal representatives ready to adhere to the court’s directive.
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