Joint Development Agreement (Real Estate)

Joint Development Agreement (Real Estate) Template for Philippines

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Key Requirements PROMPT example:

"I need a Joint Development Agreement (Real Estate) under Philippine law for a mixed-use development project in Manila, where my company will contribute the land while the developer partner will provide construction expertise and financing, with project completion expected by December 2025."

Document background

The Joint Development Agreement (Real Estate) is a crucial document used in Philippine real estate development projects where multiple parties collaborate to develop property. This agreement is particularly relevant in scenarios where one party contributes land while another provides development expertise and/or capital investment. The document needs to comply with Philippine property laws, including the Civil Code of the Philippines, Presidential Decree No. 957, and various local government regulations. It typically includes detailed provisions for property development rights, construction requirements, profit-sharing mechanisms, regulatory compliance, and risk allocation. The agreement is especially important in the context of Philippine real estate development due to specific local requirements regarding foreign ownership restrictions, environmental regulations, and local government unit approvals.

Suggested Sections

1. Parties: Identification of the parties entering into the agreement, including their legal status and registered addresses

2. Background: Context of the development project, property details, and parties' objectives

3. Definitions: Definitions of key terms used throughout the agreement

4. Project Description: Detailed description of the development project, including scope, purpose, and location

5. Contributions of Parties: Specific contributions from each party (land, capital, expertise, etc.)

6. Development Rights and Obligations: Rights granted for development and corresponding obligations of each party

7. Project Timeline: Development schedule, milestones, and completion dates

8. Construction and Development Standards: Requirements for construction quality, compliance with building codes and standards

9. Cost Sharing and Financial Arrangements: Distribution of costs, funding mechanisms, and financial responsibilities

10. Revenue Sharing and Profit Distribution: Formula for sharing revenues and profits from the development

11. Management and Control: Project management structure and decision-making processes

12. Regulatory Compliance: Obligations regarding permits, licenses, and compliance with laws

13. Representations and Warranties: Standard and specific warranties from each party

14. Term and Termination: Duration of agreement and circumstances for termination

15. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law

16. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment

Optional Sections

1. Environmental Compliance: Specific provisions for environmental protection and compliance, required if project has significant environmental impact

2. Indigenous Peoples Rights: Required if the development affects areas with indigenous peoples' rights

3. Marketing and Branding: Include if parties will jointly market the development

4. Property Management: Post-completion management arrangements, if applicable

5. Foreign Investment Provisions: Required if any party is a foreign investor

6. Anti-Money Laundering Compliance: Detailed AML provisions if required by transaction size or nature

7. Force Majeure: Specific provisions for natural disasters and other force majeure events common in Philippines

8. Insurance Requirements: Detailed insurance provisions if specific coverage is required

Suggested Schedules

1. Property Details: Legal description of the property, including title information and surveys

2. Development Plans: Architectural plans, drawings, and specifications

3. Construction Schedule: Detailed timeline of construction phases and milestones

4. Cost Allocation Schedule: Detailed breakdown of cost sharing between parties

5. Revenue Sharing Mechanism: Detailed calculations and examples of revenue/profit sharing

6. Required Permits and Licenses: List of required regulatory approvals and status

7. Form of Construction Contracts: Template or key terms for construction contracts

8. Technical Specifications: Detailed technical requirements and standards

9. Environmental Impact Assessment: If required, results of environmental studies

10. Bank Guarantee/Performance Bond Forms: Templates for required financial security instruments

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Construction

Property Development

Urban Planning

Infrastructure

Commercial Property

Residential Property

Mixed-use Development

Retail Development

Industrial Development

Relevant Teams

Legal

Real Estate Development

Project Management

Finance

Construction Management

Compliance

Business Development

Risk Management

Operations

Investment

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Development Director

Project Manager

Property Development Manager

Legal Counsel

Construction Manager

Investment Director

Land Acquisition Manager

Compliance Officer

Urban Planning Director

Business Development Manager

Risk Management Officer

Finance Director

Operations Director

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