The government has asked the deputy commissioners (DCs) to provide it with the lists of abandoned commercial properties located in their respective districts.
The Ministry of Commerce (MoC) at a recent meeting has taken some decisions on getting back the abandoned commercial properties aiming to earn revenues through its optimum use.
"We have held a meeting recently that asked the DCs to provide us with the lists of abandoned commercial properties," a joint secretary who was present at the meeting told the FE.
The term commercial property (also called commercial real estate investment or income property) refers to buildings or land intended to generate profits either from capital gains or rental incomes.
Commercial properties include office buildings, medical centres, hotels, malls, retail stores, farmland, multifamily housing buildings, warehouses and garages.
In many countries, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
Over hundred commercial properties have remained unused in different districts of the country for a long time or already grabbed by a section of influential people.
As a result, the government is being deprived of a substantial amount of revenues.
The commerce ministry official said DCs have been asked to provide the MoC with the lists of abandoned commercial properties in prescribed forms urgently.
The Bangladesh Abandoned Property (Control, Management and Disposal) Order, 1972 will help the government get back abandoned commercial properties.
The meeting decided that the DCs who could provide the lists of abandoned commercial properties will get appreciation from the government.
The official further said the Prime Minister's Office in a letter asked the MoC to prepare the lists of commercial abandoned properties based on latest specific information to be provided by DCs.
The government has set a target for proper use of abandoned commercial properties, considering the potential of properties.
"We will also make the lists of DCs who will fail to provide the lists of abandoned properties despite repeated calls," the commerce ministry official mentioned.
