The Legal 500

For Bojovic Dasic Kojovic, the slack in the Serbian real estate market has been compensated for by activity in Montenegro, where the firm’s second office has advised on real estate financings, assisted Spanish power operator Fersa on a long-term lease agreement for a wind farm development, and represented various entities in litigation on enforcement of purchase contracts. Dragoljub Cibulic is ‘very professional, very pleasant to work with, and always gives answers on time’, and leads on ongoing advice to Plaza Centres and Greek and Israeli developers.

With a winning combination of strength in real estate law and banking law, CMS Reich-Rohrwig Hasche Sigle has proved exceptionally busy even through the downturn, advising banks, real estate funds and developers on all aspects of property and land deals. Stojan Semiz’s ‘very specific knowledge of real estate laws and banking law, combined with his creative and strong work’ is a key factor in this. Recent instructions include advising Greek EFG Bank on the largest Serbian corporate lending facility valued at €140m for the construction of a shopping mall in Belgrade and advising the leading Serbian real estate developer, GTC, on several commercial property developments.

Active in both Serbia and Montenegro, Harrisons Solicitors is credited with having ‘more experience than any other law firm in Montenegro on real estate matters, where knowledge of planning procedures is paramount’. This is borne out by new instructions for ‘very commercial and pragmatic’ Goran Martinovic on the financing and construction of some of Montenegro’s most prestigious coastal developments. In Serbia, the team has advised Spearhead on the acquisition of agricultural land, Delta Holding on a sale of a private retail business, and the EBRD on the financing of a mixed-use complex.

Karanovic & Nikolic delivers specialist advice across the Balkans for clients involved in the development of resorts, retail outlets and industrial sites. Milos Vukovic has recently advised Airport City Belgrade on issues arising in the development of a substantial commercial and residential complex including title, permits and leases and drafting of the construction and lease contracts. IKEA is assisted with due diligence for site acquisition.

Moravcevic Vojnovic Zdravkovic OAD in cooperation with Schoenherr demonstrated its commitment to the real estate market in 2010 by increasing its dedicated team to 13 lawyers and making Slaven Moravcevic an equity partner. The group’s specialists continue to provide an innovative service to retainer clients such as Mercator on its expansion and acquisitions, and handle the requirements of other clients on matters from FIDIC conditions to arbitrations. At the forefront of the current boom in energy projects, the team was instructed by RWE on the construction of the €1bn ‘TENT B3’ thermal power plant.

At JPM Jankovic, Popovic & Mitic in cooperation with CHSH Cerha Hempel Spiegelfeld Hlawati, ‘the level of service is excellent and very proficient’. The four-lawyer team’s ‘knowledge of the appropriate legal regulations is profound and exemplary’, and has been invaluable to state-owned Srbijagas in its joint venture to construct an underground gas storage depot with Gazprom. The team has prepared documentation for the acquisition of new premises for two international embassies, and advised Bauhaus on the acquisition of a retail site. Uros Markovic and senior lawyer Ivan Petrovic impress clients with their style of work.

With an office in Montenegro, Joksovic, Stojanovic & Partners was well placed to assist a middle eastern client on a major land acquisition. Its Serbian team has successfully completed one of the first conversions of land under the new legislation for Toyota, and assisted Korean motor manufacturer Yura with its acquisition of a greenfield site. The team regularly completes complex long-term lease agreements and continues to win significant new clients.

Nikolic Kokanovic Otasevic has expanded its team to provide optimum service on the instructions coming in from clients such as PepsiCo, Holcim and CB Richard Ellis on construction and real estate matters. Recently engaged by Belgrade international airport on the master plan for the airport and surrounding complex, the team focused on complex zoning issues arising under new legislation. However, ‘as the person with in-depth knowledge of both legislation and practice’, this was not a problem for ‘very business-oriented, professional and hardworking’ Djordje Nikolic.

Prica & Partners has been busy conducting due diligence on prospective sites for development for several clients, assessing options for the purchase of existing premises, and representing a Swiss investor in relation to matters arising on the construction of two hotels.

Key energy client NIS recently provided Wolf Theiss Vienna in co-operation with Serbian lawyers with the opportunity to draft amendments to the legislation which threatened the status of its formerly state-owned property. Aside from this innovative project, the ‘creative’ Bojana Bregovic continues to assist IKEA in its search for appropriate retail locations and ‘problem-solving’ Miroslav Stojanovic advises international investors on property and land acquisitions.

Local branches of international operations consult Law Office Baklaja Igric Mujezinovic in association with Clyde & Co LLP on real estate projects which require a thorough knowledge of the latest legal developments. Selma Mujezinovic and Boris Baklaja have the construction, real estate and transactional experience to effect these acquisitions on behalf of Italian, UK and Greek clients.

Since its involvement in the award of the concession to construct the Bar Boljare motorway, Gide Loyrette Nouel has significantly downsized its Belgrade presence and centres its regional operation on its Budapest office, where real estate specialist Francois D’Ornano is based. Nevertheless, the firm has recently been instructed by French clients such as Intermarché on 12 development and construction sites in Serbia and Bosnia-Herzegovina.

Dejan Bogdanovic is the key contact at Mikijelj Jankovic & Bogdanovic for conveyancing, administrative and acquisition advice in Belgrade. Clients include several embassies and commercial entities.

The focus of the team now practising under the banner of PWC Legal (formerly Milovanovic & Associates Attorneys at Law) is on due diligence and acquisition support in relation to investments with real estate content.

At ease advising either government agencies on privatisation by way of sale of assets or high-profile consumer products companies on property acquisitions, Spasic & Partners has acted on some of the most high-profile property deals in Belgrade.

At Tomic Stevic Dulic, Gordana Stevic Dulic handles real estate projects for the financing and construction of industrial and business property on behalf of Russian, German and English clients.

Trifunovic & Cvetkovic understands all phases of real estate funding activity, including obtaining licences and permits, taxation and disputes.

Investors looking for a secure legal foundation for income-producing assets or seeking to release value through sale or leasing consult Zivkovic & Samardzic Law Office, whose media and IT experience gives it the edge on licences for siting of telecoms and mobile network structures.