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Bulgaria > Real estate and construction

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  1. Real estate and construction
  2. Leading individuals

Leading individuals

Key clients for the ‘outstanding’ practice at Andonov & Radinska Law Firm include Europa Capital, General Electric and Avestus Capital Partners. The team also acted for City Hospitals & Clinics Group in relation to the construction of a cardiology clinic in Bulgaria and the lease of a general hospital in Varna. The ‘renowned’ Hristo Andonov and the ‘knowledgeable’ Diliana Radinska are recommended.

Boyanov & Co’s ‘quick and responsive’ real estate and construction team is praised for its ‘clear and effective’ advice. It acted for a major European utility company on the construction of biomass co-generation plants. Practice head Nickolay Nickolov is ‘a very experienced and effective real estate lawyer’.

The ‘very high quality’ team at CMS Cameron McKenna LLP – Bulgaria Branch is praised for its ‘practical experience and knowledge of the real estate sector’. It is advising Backaldrin on ongoing issues concerning the acquisition of real estate in Bulgaria, and also advised Quarzwerke Group on all real estate issues relating to its acquisition of shares in Kaolin. Senior associate Peter Takov heads this ‘quick and effective’ group.

Djingov, Gouginski, Kyutchukov & Velichkov’s ‘responsive’ team is advising NIS Petrol on the acquisition of petrol stations, storage bases and plots of land; Karsch Venture Capital on the purchase of commercial property and the development of a shopping complex near Sofia; and Moda Sport on the acquisition of 99 plots of agricultural land in Stara Zagora. Practice head Stephan Kyutchukov is ‘outstanding’.

Kambourov & Partners’ ‘reliable, pragmatic and knowledgeable’ team is advising Bulgarian Energy Holding on all real estate matters arising from the restructuring of the Bulgarian energy sector. It also provides ongoing real estate advice to European Trade Centre, Lidl and Kamenitza. Atanas Shopov is ‘absolutely first class’.

Penkov, Markov & Partners is ‘renowned for its brilliant litigation prowess’, and is defending state-owned company Vrana in a high-profile property claim. On the non-contentious side, it recently advised Bulfeld on the development of the Paradise Centre Mall in Sofia. Milena Gaidarska and Ivan Markov are recommended.

Andrey Delchev and Partners – Eurolex Bulgaria’s ‘responsive and reliable’ team continues to advise the Road Infrastructure Agency on the selection of the contractor as well as the design and construction of the Struma Highway, Lot 2. It is also advising Planex on the development of the €60m Galeria Bourgas Mall, and advised Metropolitan JSC on construction contracts for the €68m extension of the second metro line in Sofia. Stoyan Barzakov is highly regarded.

Dinova, Rusev & Partners’ team is ‘always business-oriented’, and is ‘efficient, quick and knowledgeable’. It is advising Terna Energy on construction of a wind farm, and acted for Assos Capital on various issues regarding the financing and management of significant commercial spaces in Sofia. It acted for South Ring Mall Sofia on the development of a shopping mall. Anelia Dinova heads the team, in which Georgi Vladov, Iliya Grozdanov and the ‘hardworking’ Todor Kakachev are also recommended.

Dobrev, Kinkin & Lyutskanov is noted for its expertise in energy-related real estate and construction matters, as well as in contentious work. It advised Cabland on the design and construction of a significant golf complex in Bulgaria, while other clients include VEZ Maritza, VEZ Svoghe, RSM BX, Ogosta B.I., and Sparki. Practice head Adriana Nacheva is highly regarded.

Penev LLP’s ‘excellent’ team advises clients such as the US Embassy in Bulgaria and Garanti Koza on real estate matters. Sergey Penev is recommended.

Headline work for the ‘outstanding’ team at Schoenherr (in cooperation with Law firm Andreev, Stoyanov and Tsekova) included advising S IMMO on the financing of the construction of an office building in central Sofia, and assisting Moncada with the acquisition and development of several solar energy parks. Elena Todorova and practice head Dimitar Vlaevsky are recommended.

Tsvetkova Bebov & Partners, Attorneys-at-Law is advising Solar Europe and Czech Investment Group on potential solar energy site acquisitions in Bulgaria. Acciona Infraestructura is also a client. Nikolay Bebov, Venelin Dimitrov and Blagomir Minov are recommended.

Wolf Theiss’ ‘highly professional’ team is advising South Stream Transport on all real estate and construction matters relating to the development of the South Stream offshore gas pipeline. It also acted for Bulgarian Real Estate Fund (BREF) on the €23m sale of Kambanite Business Centre in Sofia to Zeus Capital, and advised LukErg Renew on the €52m acquisition of two wind farms. Anna Rizova is highly recommended, and Antonia Mavrova ‘goes the extra mile’, say clients.

Arsov Natchev Ganeva provides real estate and construction advice to clients such as Lidl, Air Liquide International and ArcelorMittal Distribution. Marin Arsov and Stoil Hristov are recommended.

Atanassov & Ivanov Law Firm advises clients including Toyota Balkans, Michelin and United Bulgarian Bank on real estate and construction matters.

BWSP Ilieva, Voutcheva & Co Law Firm is experienced in advising foreign clients on Bulgarian real estate projects. Recent work includes assisting Camera with the purchase of two substantial plots of land. Rossitsa Voutcheva and associate Anton Uzunov are the key contacts.

Borissov & Partners’ real estate and construction team advised Penguin Properties and Carnation Holdings on the acquisition of real estate in Pamporovo. The team is also advising Ingérop and High-Point Rendel on their joint venture to build the Danube Bridge 2 between the towns of Vidin and Calafat. Radoslav Alexandrov is the key contact.

CHSH Cerha Hempel Spiegelfeld Hlawati’s ‘top-quality’ team advised Solartec on the acquisition of various renewable energy projects, and acted for Dituria on the acquisition of a photovoltaic project. Boyko Guerginov is recommended.

Dimitar Danailov at Danailov, Mihaleva, Nedelchev & Co/Lex Locus is recommended for real estate matters.

Delchev & Partners advised longstanding client Cordeel Bulgaria on the construction of Bulgaria Mall, and advised Regnum on increasing its investment in a ski resort.

Dimitrov, Petrov & Co is advising the Bulgarian subsidiary of Cooperativa Muratori & Cementisti regarding a €65m transport project, and continues to advise Co-Ver Industrial regarding a major infrastructure project in Sofia. It is also recognised for its expertise in construction and real estate disputes. Alexander Todorov is recommended.

Dyulgerova & Penkova Law Firm advised Piccadilly on real estate matters relating to rental agreements for premises in Bulgaria. Victoria Penkova and Lyubimka Dyulgerova are recommended.

Georgiev, Todorov & Co advised Energoconsult on the €10m construction of three wind farms. Clients also include Alfred Toepfer International. Miglena Peneva is recommended.

Gugushev & Partners Law Office’s ‘top-quality’ team advised on three significant photovoltaic projects for Hareon Solar Technology. Other clients include Urbasolar and Magnolia Imoti. Petko Angelov is recommended.

KLC Law Firm Branch Bulgaria is advising GEK Group Terna on various construction matters.

McGregor & Partners is renowned for its experience in advising on real estate and construction matters relating to the renewable energy sector.

Popov & Partners advised Novo Ivanyane on a significant property sale in Bulgaria. It also advised Gild Arbitrage Fund Management (GAFM) on matters relating to zoning and the change of land use for areas intended for long-term development by the Sofia City Master Plan. Galin Popov is ‘outstanding’, and Sibina Eftenova is ‘reliable and responsive’.

Simeonov & Dermendjiev, which is recommended for its experience in construction projects, recently advised on two hotel developments.

Law Partnership Tascheva & Partner’s ‘reliable’ team advised Linde and Linde Holding on real estate matters relating to its restructuring in Bulgaria. Svetoslav Dimitrov and Nelli Tascheva are recommended.

Boutique firm Tocheva & Mandazhieva Law Office is advising an Asian multinational corporation on a €15m investment programme in the renewable energy sector, and acted for Tishman International on the development of Sofia Airport Center. Tanya Tocheva and Zhulieta Mandazhieva are recommended.

Varadinov & Co Attorneys-at-Law is recommended for its construction law expertise.

Diana Ilieva is Bazlyankov Stanoev & Tashev’s key contact for real estate matters.

CMS Reich-Rohrwig Hainz in cooperation with Pavlov and Partners Law Firm’s ‘solution-oriented’ team advised Alfa Energy Holding on the acquisition and development of photovoltaic energy projects in Bulgaria. It also acted for Alpine-Energie Österreich on the acquisition and development of a photovoltaic power plant project in Chervenakovo.

Georgieva, Petrov, Nenkov, Georgiev Law Firm advises on construction law and transactional aspects of real estate.

Law Firm Kolcheva, Smilenov, Koev and Partners is recommended for its expertise in energy-related real estate matters.

Peterka & Partners Law Firm advised Plaan & Premier Power on the construction of a €40m solar energy park in Bulgaria and acted for Pentax Medical Bulgaria on the construction of a medical equipment repair centre.

Sabev & Partners Law Firm advises on a range of real estate matters including sales and purchases, mortgages and leases.

Tokushev and Partners Law Office advises several major public companies on their real estate issues.

Press releases

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Legal Developments in Bulgaria for Real estate and construction

  • Real Estate 2013. Chapter 6: Bulgaria

    This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of real estate. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Real Estate; published by Global Legal Group Ltd, London. www.iclg.co.uk .
    - Schönherr

Legal Developments in Bulgaria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Bulgaria: A welcome reform or a market disruption

    The latest amendments to the Bulgarian Commerce Act are intended to implement the Late Payment Directive (2011/7/EU) (the “Directive”). The Directive was adopted in February 2011 and was due to be implemented by 16 March 2013. Currently, is adopted in 17 of 27 Member States of the EU. The aim of the Directive is to prevent the grossly unfair treatment of those creditors who are unable to negotiate level-playing field payment terms, irrespective of whether that status is due to the creditors’ weaker bargaining power or to the fact that the terms are in fact subjected to limited negotiations, as with public procurements. The scope of the amendments in the Bulgarian legislation implementing the Directive concern only business to business and government to business transactions , for which maximum terms are introduced for payment of monetary obligations. Unfortunately, the amendments do not entirely implement the Directive and certain provisions of this EU legislation have been left out, such as:
  • Bulgaria_Commission adopts corporate compliance programme guidelines

    At the end of 2012 the Competition Protection Commission adopted guidelines regarding corporate compliance programmes. In general, the guidelines highlight the advantages of these programmes. Through the guidelines, the commission aims to encourage businesses to develop and implement compliance programmes in order to reduce or avoid the risks of non-compliance with competition law.
  • Commission imposes highest-ever penalty for prohibited agreements

    In November 2012 the Competition Protection Commission imposed the highest penalty in its history for prohibited agreements between the distributor of Hyundai in Bulgaria, Industrial Commerce OOD, and authorised Hyundai/Industrial Commerce dealers pursuant to Article 15 of the Competition Protection Act and Article 101 of the Treaty on the Functioning of the European Union. 
  • Mergers & Acquisitions 2013. Chapter 10: Bulgaria.

    This guide provides corporate counsel and international practitioners with a comprehensive worldwide legal analysis of the laws and regulations of mergers and acquisitions. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Mergers & Acquisitions; published by Global Legal Group Ltd, London. www.iclg.co.uk.
  • Real Estate 2013. Chapter 6: Bulgaria

    This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of real estate. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Real Estate; published by Global Legal Group Ltd, London. www.iclg.co.uk .
  • VAT LIABILITY OF A TRADE REPRESENTATIVE OFFICE IN BULGARIA?

    The present article deals with the question of who is to be invoiced and who is VAT liable if a taxable person in Bulgaria supplies services to and for the benefit of a trade representative office -established in Bulgaria - of a foreign entity.bu
  • Competition Legislation Imposes New Restrictions on Business

    On 14 June 2012, the Ministry of Economy, Energy and Tourism published on its Internet site draft amendments to the Protection of Competition Act and respective reasons.
  • Protection of Business Transactions in Case of Insolvency

    One natural consequence of the economic crisis is the steadily growing number of bankruptcy proceedings. An effective means of protecting the interests of creditors in such proceedings is the introduction of the principle of nullity of transactions concluded during the so-called ‘suspicious period', directly following the initial date of insolvency (or, respectively, over-indebtedness).
  • Omissions in the energy strategy disturb the investment climate

    In a previous article, I asked the question of whether the State is “for” or “against” green energy. The latest amendments to the law of April 10, 2012, as well as subsequent decisions by the State Energy and Water Regulatory Commission (SEWCR) confirmed that the State takes a stand against wind and photovoltaic power generation.
  • Disputes over Second World War Reparations Thwart Bulgaria’s...

    Privatisation Efforts

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Sayenko Kharenko – legal counsel on the acquisition of ING’s securities and custody services bus

    Sayenko Kharenko - legal counsel on the acquisition of ING's securities and custody services business by Citibank. Normal 0 false false false RU X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Обычная таблица"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;}
  • LS Horizon Limited advised PTG Energy Public Company Limited

    LS Horizon Limited has advised PTG Energy Public Company Limited (the " Company "), which operates the business of distribution of petroleum products and equipment for gas stations, including fuel selling through its PT petrol stations, in connection with its initial public offering (" IPO ") and listing of its shares on the Stock Exchange of Thailand (" SET ").
  • Penningtons establishes pensions team with two senior lateral hires

    Penningtons Solicitors LLP has recruited partner Maria Riccio and associate Rupert Graham-Evans to lead its newly established pensions law team. Working between the firm's Hampshire and London offices, they will also support Penningtons' regional offices across Cambridge and the South East, advising clients in the UK and internationally.
  • Matouk Bassiouny Advises Emirates NBD PJSC on the USD 500 Million Acquisition of BNP Paribas S.A.E.

    Matouk Bassiouny advised Emirates NBD PJSC on the acquisition of 100% of the share capital of BNP Paribas S.A.E. in Egypt.  The value of the transaction amounted to USD 500 million. The Share Purchase Agreement was signed in December 2012 and closing took place in Cairo on Sunday June 9 th 2013. 
  • Partner and Senior Associate join Matouk Bassiouny's Dispute Resolution group

    We are delighted to inform you that Johanne Cox joins Matouk Bassiouny as a Partner in the firm's Dispute Resolution group. Johanne has practiced international arbitration in Egypt for a number of years, prior to which, she practiced arbitration in London and Paris at leading international law firms.  She is recognized in Legal 500 (2013) as "very experienced and knowledgeable", adding a "great dynamic" to her law firm's practice.  Johanne is a Fellow of the Chartered Institute of Arbitrators, a Solicitor-Advocate in England and Wales, and an accredited Mediator.
  • Landmark Supreme Court judgement on the Rights of Depositors in Cyprus

    On 07.06.2013 the Supreme Court issued its judgment in the context of the first recourses filed by depositors and challenging the effect on depositors' funds of the recent bank resolution measures. The judgment is a very welcome development and should be viewed as a significant stepping stone in the future developments of the promotion of depositors' claims.
  • Kochański Zięba Rapala & Partners law firm is a laureate of the European Medal 2013

    Kochański Zięba Rapala & Partners law firm is honored to announce that it has been awarded the European Medal 2013 in the Final of the 24th Edition of the Competition organized by the Business Centre Club in cooperation with the Ministry of Foreign Affairs, and under the honorary patronage of the European Economic and Social Committee.
  • Georg Fischer to acquire majority stake in Hakan Plastik of Turkey

    Georg Fischer Ltd. (GF) signed a share purchase agreement on 7 May 2013 to acquire majority stake in Hakan Plastik A.S., with an option to acquire the remaining shares in following years. 
    - Paksoy
  • Hengeler Mueller advises CEWE on transformation of legal form

    The Annual General Meeting of CEWE COLOR Holding AG has approved the change the company's legal form into a partnership limited by shares - Kommanditgesellschaft auf Aktien (KGaA). The change of the legal form includes the transfer of the business currently conducted by CEWE COLOR AG & Co. OHG to CEWE Stiftung & Co. KGaA.
  • Hengeler Mueller advises Grammer AG on refinancing by certificate of indebtedness

    Grammer AG (Amberg), a leading supplier of automotive interior and seating systems, has issued loans evidenced by certificate of indebtedness (Schuldscheindarlehen) in the amount of € 90 million which is divided into tranches of 4 and 6 years as well as fixed and variable interest rate tranches. Grammer AG is refinancing an existing loan evidenced by certificate of indebtedness of 2006 prior to maturity in August with part of the issuing proceeds.