Firms To Watch: Real estate and construction

Buzalov & Chanova Law Office's caseload includes real estate and property transactions, as well as construction and investment projects.

Real estate and construction in Bulgaria

Andonov & Radinska Law Firm

Andonov & Radinska Law Firm’s track record in real estate and construction mandates is unparalleled, as the team advises on high-profile transactions and projects, notably involving shopping malls, as well as retail and office lease agreements, multiplexes and energy plants, among others. Founding partners Hristo Andonov and Diliana Radinska jointly lead the practice group and are noted for their expertise in handling major projects in this space. The team counts New Europe Property Investments Rockcastle, JYSK and Avestus Capital Partners among its roster of key clients.

Practice head(s):

Hristo Andonov; Diliana Radinska

Other key lawyers:

Snejana Hristozova; Katerina Uzunova


‘In-depth knowledge and understanding of the sphere of business, unmatched attention to details.’

‘Partner Diliana Radinska is extremely engaged, thorough and knowledgeable on all aspects.’

Key clients

Mall Plovdiv


Global City Holdings


Avestus Capital Partners

Delta Planet Mall


Paradise Center Sofia

Serdika Center Sofia

NEPI Rockcastle

John Cotton Group

Apleona HSG

Work highlights

  • Advised New Europe Property Investments Rockcastle in respect of new leases and renewal of its existing commercial leases and property management services portfolio, in Paradise Center and Serdika Center, at a total value of $500m.
  • Advised Avestus Capital Partners regarding new leases and renewal of its existing commercial leases and property management services portfolio, in Mall Plovdiv, at a total value of €10m.
  • Advised John Cotton Group (UK) in respect of a long-term lease acquisition of 4,000 m2 production facilities and buildings in Sofia for the start-up of its first pillows and duvets factory in Bulgaria.

Boyanov & Co.

The multidisciplinary real estate and infrastructure team at Boyanov & Co. advises global companies on mandates ranging from the acquisition and financing of shopping malls and office buildings to the construction of large hotels. Nickolay Nickolov leads the practice group and is praised for his ‘great expertise and capability’, particularly in cross-border acquisitions, due diligence and regulatory matters emanating out of the real estate sector. Associate Svetlana Tsvetkova, whose caseload includes real estate litigation, is another key member of the team.

Practice head(s):

Nickolay Nickolov

Other key lawyers:

Svetlana Tsvetkova


‘They have profound professional knowledge and understand the market very well.’

‘Nikolay Nikolov is a highly educated and experienced lawyer, who has great expertise and capability to react in every.’

‘Very experienced, excellent knowledge on both theoretical and practical aspects of the matter at hand; very responsive and able to get the job done in a timely manner.’

Key clients

Bulgaria Air Maintenance

Behr-Hella Thermocontrol

Kamenitza (a Molson Coors brewing company)

Eurobank Bulgaria

Silver Star

Oman Investment Fund

Mondelez International (former Kraft Foods International)

Westinghouse Electric Company

Ideal Standard


Procter & Gamble

The Coca Cola Company

Philip Morris


Odesos PBM EAD

Work highlights

  • Advising the European Investment Bank on the Bulgarian law aspects of the financing.
  • Advised Ideal Standard Vidima on new financing by DSK Bank.
  • Advised Phoenix Capital Management with respect to its intention to purchase a warehouse and logistic building on a prime location for such type of buildings.


Praised for its ‘in-depth knowledge and experience in the realm of corporate real estate’, CMS focuses on acquisitions, sales and financing of transactions, involving land, hotels, retail, office and mix-used developments, as well as leasing, zoning and construction matters. Counsel and ‘dedicated professionalJenia Dimitrova leads the practice alongside senior associate Antonia Kehayova, who also heads the firm’s litigation team. Key clients include CTP, Robul Bulgaria, in addition to OTP Bank, DSK Bank and Eurobank Bulgaria, to name a few.

Practice head(s):

Jenia Dimitrova; Antonia Kehayova

Other key lawyers:

Atanas Bangachev; Dimitar Zwiatkow; Gentscho Pavlov


‘I am very pleased with the service provided by CMS. During our cooperation in the last few years, they have proven to be very client-oriented, providing outstanding legal support and advisory in complex office space transactions.’

‘The multi-party communication and the entire process of ensuring legal compliance with all applicable international regulations has been conducted in a very proficient manner.’

‘CMS’ team, and in particular – Jenia Dimitrova, who I have been closely working with, has shown in-depth knowledge and experience in the realm of corporate real estate.’

‘Jenia Dimitrova is a very dedicated professional who is able to work well within tight timeframes and is always providing us with very in-depth legal analyses. To me, she is the leading expert in the legal aspects of real estate in Bulgaria due to the versatility of her skills and competences that are not matched by any other lawyers whom I have met.’

Key clients

Alpha Bank (Subsidiary)


Trans Vision Ltd

OTP Bank, DSK Bank, Eurobank Bulgaria

Weir Minerals Europe

Arco Vara Bulgaria Ltd

ING Bank Bulgaria Branch

OTP Bank and DSK Bank

Robul Bulgaria

Masco Europe


Pontus Partners


Work highlights

  • Assisted AGI BRE Participations 3 Ltd., an affiliate of Alpha Bank, on the sale of Veliko Tarnovo Mall.
  • Assisted CTP in an intended package deal on the acquisition of two real estate properties in the Czech Republic and one real estate property in Bulgaria under a sale-and-lease-back transaction.
  • Assisting OTP Bank, DSK Bank and Eurobank, in relation to the refinancing of Business Park Sofia, the largest office real estate project in Bulgaria.

Dimitrov, Petrov & Co

The ‘diligent and goal oriented’ team at Dimitrov, Petrov & Co acts for leading investors, private equity funds, investment banks and developers on a range of real estate and construction ‘projects of various sizes and nature’, including large-scale land acquisitions and developments. Its portfolio includes advising Chinese construction company, BCEGI Holdings, on the due diligence of a land plot for construction of a logistics base in Sofia. ‘Top-notch real estate and construction lawyerBoyana Milcheva jointly leads the practice group alongside experienced partner Alexander Todorov.

Practice head(s):

Boyana Milcheva; Alexander Todorov

Other key lawyers:

Pavlina Ivanova; Nikolay Kolev


‘We have worked most with Boyana Milcheva. She is a world-class construction lawyer with an excellent understanding of the technical side of the process. I think Pavlina Ivanova has also grown into a top-end construction lawyer.’ 

‘They have immense real estate and construction experience and know what needs to be done in any situation.’

‘They often come up with bright ideas and don’t spare efforts and time to put them into practice.’ 

‘Boyana Milcheva is our main contact. We have excellent cooperation and she is very competent and reliable. I also like Pavlina Ivanova’s manner of work – very organised and client-oriented.’ 

‘Boyana Milcheva is a top-notch real estate and construction lawyer. She knows the legislation and industry specifics by heart. Pavlina Ivanova is another real estate expert whose advice is highly valued by us.’

‘I am genuinely impressed with how devoted and hard-working the team is. They do their best to provide clients with the best solutions to their problems and have always been trustworthy and supportive. The team of the firm are highly knowledgeable, and they have proven able to handle huge volumes of urgent work. They have tremendous experience and excellent market knowledge and handle every situation professionally.’ 

‘Boyana Milcheva possesses the analytical skills required to unravel a situation. She remains focused and professional, yet amicable when dealing with most serious tasks.’

‘Pavlina Ivanova is unsurpassed when researching a land plot. She is always available for advice. She is responsive and provides accurate opinions on the spot.’ 

Key clients

BCEGI Holdings (UK) Limited

Elta 90 M

Excelion Development Group


AK Properties and VI Real Estate

Pepkor Europe

Staghorn Capital

VM Petroleum

Mark Stanley

VM Petroleum

Work highlights

  • Advised BCEGI Holdings (UK) Limited on the due diligence of a large land plot for construction of a logistics base and legal advice regarding the construction agreements.
  • Providing legal assistance to Elta 90 M in the acquisition of a new office building including due diligence of the property, zoning, and acquisition and escrow documentation, as well as the tax planning of the transaction.
  • Advising BB29 RE on the development of a multifunctional building in Sofia.

Djingov, Gouginski, Kyutchukov & Velichkov

Djingov, Gouginski, Kyutchukov & Velichkov has an impressive portfolio of high-profile real estate transactions and projects, and handles the full scope of matters, including acquisitions, financing, leasing, zoning and construction, among others. A work highlight includes advising oil producer Kaliakra on the sale of its assets, comprising a plant in Dobrich, to Bulgarian manufacturer Oliva. Practice leader Stephan Kyutchukov, whose expertise in real estate mandates is unmatched, is supported by counsel Kaloyan Krumov, who focuses on project financing aspects of property acquisitions.

Practice head(s):

Stephan Kyutchukov

Other key lawyers:

Kaloyan Krumov; Nikolina Stefanova; Maya Mircheva


‘Best in customer service approach, response time, efforts to understand the business and to add value, full scope of services, well prepared team of professionals.’

‘Provided consultancy and support for facility lease contract, drafting and reviewing lease agreement.’

Key clients

Abalta Technologies


Accentive Management Ltd.

Acibadem City Clinic EAD

Agrimatko Bulgaria


AP Investments

Auto Kelly a.s.



Blocks Group Bulgaria

Bridge Capital LLC

BSR Sofia (Edmond De Rothschild Private Equity Management)

Bulgarian Real Estate Fund

Bunge Romania

C.H. Robinson


CallPoint New Europe (Telus International Europe)

Cargotec Oyj

Corio N.V.

DOHLE Trading Group Holding LLC & Co. LP

EMP Invest Bulgaria (Empower Capital Fund)

ERG Insaat Ticaret ve Sanayi AS

European Parliament

Froneri Bulgaria

Global Resource


Hilton Hotels



Karsch Venture Capital

Kharis Capital Advisory Belgium

Landmark Holding

Lempriere Australia PTY

Lion`s Head Investments


Michael Kalderon

Mid Europa Partners

NEPI Investment Management

Oman Investment Fund (OIF)

OMV Bulgaria

Optima Befektetesi Alapkezelo Zrt

OTP Bank

P.D. Investments

Pillarstone Europe



S & K Development


Soufflet Groupe

Spectrum Brands


Tengelmann Warenhandelsgesellschaft

The Body Shop International

UniCredit Bulbank

Viridian Offices


Work highlights

  • Advised Kaliakra on the sale of its long-term assets comprising a plant in Dobrich, Bulgaria, to Oliva.
  • Engaged by the European Parliament as an ongoing legal consultant.
  • Advised Acibadem City Clinic EAD on the structuring, due diligence and acquisition of an operating oncology hospital building.

Kambourov & Partners

Noted for its capability in residential, industrial and infrastructure projects, Kambourov & Partners ‘provides prompt and high-quality‘ advice on the full cycle of development and construction matters, including transaction structuring, financing and litigation. The team continues to expand its portfolio with regard to commercial developments, such as construction of retail centres and office buildings. Practice leader Atanas Shopov has considerable experience in assisting investors, retailers, hotel chains, energy and infrastructure companies with large-scale projects.

Practice head(s):

Atanas Shopov


‘The team provides prompt and high-quality services.’

We assess the level of service as excellent and we emphasise that the answers to the legal questions were provided by Kambourov & Partners law office in due time. Responses were accurate and always provided in close cooperation with in-house lawyers of the company.’

‘All team members with expertise in real estate and construction are highly qualified and with great capabilities.’

Key clients

Bulgarian Telecommunications Company/NURTS



United Group

Arkad-ABB S.p.A

FSUE Goszagransobstvenost

Alorica Bulgaria

HS Timber

Sofia Municipality

Real Estate Developments (part of Dynamic Group)

Citygas Bulgaria

Kapsch Trafficcom


Maxima Bulgaria

Nordea Bank

Regus Bulgaria

Kaufland Bulgaria

Park Lane Developments

Work highlights

  • Advised Monolit on the conclusion of a construction agreement for the newest factory of Balkanpharma.
  • Advised United Group on the potential acquisition of a wind power project.
  • Advised Alorica Bulgaria on real estate matters.


Kinstellar has consistently demonstrated its ‘ability to service major and complex real estate transactions’, including advising on three acquisitions by CTP since its entry into the Bulgarian market, including the acquisition of the facilities of the DSV Road and Willie Elbe. Noted for its experience in commercial leases and disputes, the team is led by Antonia Mavrova, who ‘is extremely proficient in all legal aspects of the real estate market’. Managing associate Atanas Mihaylov and ‘truly versatile lawyer’ and counsel Mladen Minev, are key members of the practice.

Practice head(s):

Antonia Mavrova

Other key lawyers:

Atanas Mihaylov; Mladen Minev


‘Special thanks to Antonia Mavrova and Atanas Mihaylov – exceptional professionals with unique approach and skills to navigate you through every situation, especially the tough ones.’

‘The practice is excellent with the ability to service major and complex real estate transactions. It comprises of brilliant and very experienced lawyers who have great commercial sense and can always be relied on. Our collaboration is fruitful and smooth. I can’t recommend them highly enough.’

‘Antonia Mavrova is extremely proficient in all legal aspects of the real estate market. She gives timely and commercially-driven advice, she is dedicated to her work and manages to deal with even the most complex situations.

‘Atanas Mihaylov is definitely among the leading real estate lawyers. He knows which issues are important and how to resolve them swiftly with a favorable outcome. I recommend this team wholeheartedly.’

‘They are 100% reliable and provide great service. The team is always to the point and has a good understanding of the client’s needs. They have a superior understanding of the legal universe which they use brilliantly in negotiations.’

‘This is a solid team that combines excellent dispute resolution skills and deep real estate knowledge both from legal and commercial perspectives. They work fast, they are direct and precise in their advice. Very pleasant attitude overall.’

‘I have been working with Antonia Mavrova who is well respected and knowledgeable of the market. Her fast reactions and constructive solutions are exceptional. A pleasure to work with, she is also very good with understanding the dynamics of the deals. I have also worked with Mladen Minev who is a truly versatile lawyer. He is strategic about his client’s matters, detailed in his work and at the same time able to represent his client’s best interest in a commercial way. Overall they are able to cover the most demanding legal needs quickly and with great competence.’

‘Excellent interaction with the client. Excellent expertise and dedication. Always get the work done and find a way out of very tough situations. The best law firm to work with.’

Key clients


Allianz Bulgaria Holding



Lion’s Head Investments


Sofia South Ring Mall

NEPI Rockcastle

Galleria Burgas

GEMA 96 S.p.A.

GTT Communications

Work highlights

  • Advising on three real estate acquisitions by CTP for a total of €18.1m, including the acquisition of the first two production facilities and their lease back to blue-chip companies.
  • Advising on the long-term leasing of new office premises that consolidate Allianz’s operations in one office building.
  • Representing Nepi Rockcastle in a litigation case by defending the rights and obligations of the landlord of two of the largest shopping centres in Bulgaria, in relation to the COVID-19 lockdown.

Penkov, Markov & Partners

Commended for its ‘extensive knowledge and know-how in the real estate sector’, Penkov, Markov & Partners has ‘experience in the development of large-scale projects’, including advising Arteks Engineering Group on several high-end residential development mandates, including the €100m Zlaten Vek skyscraper. Milena Gaidarska leads the practice group and is supported by Atanas Valov; both are noted for their capability in ‘construction and project developments of commercial real estate’. The team counts Artstroy Holding Group, Kamsar and SPF Logistic, among its key roster of clients.

Practice head(s):

Milena Gaidarska

Other key lawyers:

Atanas Valov


‘They are very proficient in real estate matters and especially in urban planning and administrative regimes of construction. They have exceptional experience in development of large scale projects in the real estate sphere and this helps them to organise the development process and to foresee potential problems.’ 

‘In the field of real estate we mainly work with Milena Gaidarska and Atanas Valov. They are very hard-working and experienced in construction and project development of commercial real estate. Communication with them is all easy and smooth.’ 

‘We have very good cooperation with the practice. They have extensive knowledge and know-how in the real estate sector, the main field we use their advice. We rely on their prompt advice and due diligence in complicated situations.’ 

‘Atanas Valov and Milena Gaidarska. Excellent and very knowledgeable lawyers. Fast and professional attorney-client contact.’ 

‘Milena Gaidarska is our main representative in negotiations and development of new projects, while she also participates in preparation of our written defences on construction disputes. She has a name in the real estate sector and is invaluable with her experience and business-like approach to many situations which are seemingly hard to resolve.

‘Atanas Valov is also one of our key contacts in their office, but he mainly represents us in court and arbitration recently. Otherwise, he also has significant experience in real estate and construction and brings valuable input in brain-storming difficult situations.’ 

‘They are very proficient in real estate matters and especially in urban planning and administrative regimes of construction. They have exceptional experience in the development of large-scale projects in the real estate sphere and this helps them to organise the development process and to foresee potential problems.’ 

‘Milena Gaidarska is a brilliant lawyer with substantial experience. We rely on the whole team. Atanas Valov is also experienced and competent.’ 

Key clients

Arteks Engineering Group

Nedvizhimi Imoti Sofia SIPJV

Luxury Real Estate Company

BA Glass Bulgaria

Artstroy Holding Group

Mach Mor

Zagorka AD (part of Heineken Group)

SPF Logistic

A group of private investors in Thessaloniki, Greece


Enikom M

Work highlights

  • Advised Arteks Engineering and its affiliates on a number of residential development projects throughout Sofia, including the €100m Zlaten Vek skyscraper and the lawsuits with the construction supervision authorities, related to this particular project.
  • Advised Nedvizhimi Imoti Sofia SIPJV on a €11m sale of an attractive plot on GM Dimitrov Blvd. in Sofia to an international developer.
  • Advised Viraj Group on an acquisition of a plot suitable for construction of a new metal processing production facility of the group and its adjacent infrastructure near a Bulgarian port.

Andrey Delchev and Partners - Eurolex Bulgaria

Andrey Delchev and Partners – Eurolex Bulgaria acts for infrastructure developers and property investment companies, including long-standing client Nova City Group, in high-end real estate and construction projects. The team is capable of handling a range of developments, from residential buildings, hotels and resorts to retail and energy facilities. Managing partner Stoyan Barzakov, who has experience in handling infrastructure projects, leads the practice group which includes senior associate Petya Bobeva, who advises on real estate due diligence and project financing.

Practice head(s):

Stoyan Barzakov

Other key lawyers:

Petya Bobeva

Key clients

Nova City Group

Council of Ministers

Manchester Airport Group

Work highlights

  • Advised Nova City Group on the closing of many various real estate transactions for more than €8m.

Georgiev, Todorov & Co

Combining its ‘specific expertise in the field of real estate’ and ‘exceptional litigation skills’, Georgiev, Todorov & Co represents its roster of clients, including AG Capital, Contract City and Tobo Group, in high-end disputes and has demonstrable experience in development and transactional matters. Litigator Miglena Peneva leads the practice group, which includes associate Toma Drashkov, and has impressed clients with her ‘in-depth knowledge’ of real estate projects. The team’s caseload includes defending Business Park Sofia in relation to an amendment to the territorial plan for its real estate properties.

Practice head(s):

Miglena Peneva

Other key lawyers:

Arno Mamasyan; Toma Drashkov


‘We work closely with Ms. Miglena Peneva. She impressed us with in-depth knowledge in real estate regulatory framework, litigation skills and brilliant problem resolving approach. We highly recommend her as a reliable lawyer with great time management and negotiation skills.’

‘The law firm has an amazing reputation in the real estate sector in Bulgaria, many key clients in the field, as well as long term experience.’

‘Georgiev, Todorov & Co. has specific expertise in the field of real estate, is well-known with for its exceptional litigation skills, and is always available to assist its clients and find the right legal approach to solve their issues no matter how complex they might be.’

‘In the time of a state of emergency in Bulgaria, when meetings with clients were restricted, the team remained available through the use of technology.’

‘We have worked individually with Miglena Peneva, we chose her for her outstanding people-client approach and devotion.’

Key clients

AG Capital

Alfred C. Toepfer International Netherlands

Artemida BSI

Artmonbat JSC

Aurubis Bulgaria

Best Places

Bigla 3


Business Park Sofia

Contract City

Este Properties

European Parliament

Fleet Services

Galchev Engineering

G.P. Group


Ministry of Agriculture, Food and Forestry

National Association of Property Developers


Shalev Investment Group

Sliven Municipality

Studentski Stolove i Obshtezhitiya

Tobo Group

Vatia Holding

Yambol Municipality

Work highlights

  • Protected the legal interests of Business Park Sofia in relation to an amendment to the detailed territorial plan for its real estate properties.
  • Advising Contract City on matters and disputes related to the construction of land mark buildings in Sofia city.
  • Representing Tobo Group in several real estate matters with a total value of approximately €5.525m.

Jordanov, Ignatov, Ivanov Law Firm

Jordanov, Ignatov, Ivanov Law Firm has a strong track record in high-end urban developments, as demonstrated by the team’s ongoing advice to Bulgarian Property Developments on the 100,000m² commercial and residential project in the centre of Sofia. Managing partner and corporate real estate practitioner Ivan Jordanov, jointly leads the practice group alongside senior partner Rumen Ignatov, who is praised as ‘an extraordinary expert’ in commercial real estate matters. Senior associate Nikolay Ignatov is another key member of the team.

Practice head(s):

Ivan Jordanov; Rumen Ignatov

Other key lawyers:

Nikolay Ignatov


‘Since its incorporation, our company has been using the services of Jordanov, Ignatov & Ivanov law firm. The simple reason to trust them for all these years is that they have been absolute professionals in any case assigned, no matter its complexity or value. Our business is in the sphere of real estate and construction and we have faced very tough challenges.

‘In all complicated cases, we rely on Jordanov, Ignatov & Ivanov as our external legal provider. They have remarkable experience in the field of real estate and construction. Apart from that, they have proved to be very loyal and supportive, which I personally evaluate highly.’ 

‘The managing partner Mr. Rumen Iganatov is an extraordinary expert in his field. Senior Associate Nikolay Ignatov has exceptional knowledge of the regulatory and administrative procedures which has saved us great deal of time. They are both great in converting their unique experience and profound understanding of the market into the best advice for the client.’ 

‘Jordanov, Ignatov & Ivanov is a law firm with vast expertise in the real estate and construction and we are delighted to work with it.’ 

‘For real estate and construction matters we closely work with Mr. Nikolay Ignatov and Mr. Rumen Ignatov. We highly value their professional attitude and precise legal solution for the complex legal issues we have assigned to them.’ 

‘The partners and associates I have worked with are great professionals. There is a good collaboration within the team.’ 

‘We predominantly work with Mr. Rumen Ignatov and Mr. Nikolay Ignatov. They are both excellent lawyers, showing in-depth knowledge of the sector. They always approach our assignments with high professionalism and devotion. Based on our experience so far, we are confident that we will always be provided with the most effective legal solutions notwithstanding the level of complexity of our case.’ 

‘We work primarily with Mr. Ivan Jordanov and Mr. Nikolay Ignatov. We highly appreciate their professionalism, knowledge of the real estate and construction sector, and business oriented attitude. Their reactions have proven to be very prompt and precise in complex cases when time is of essence. These qualities have been essential for us.’ 

Key clients

Arco Vara

Varna Logistics

Bulgarian Property Developments

Fairplay International

BPD Ring Road

Bulgarian Property Developments

Lindner Bulgaria

Mundus Services


Bulgarian Land Developments

Core Construction

BPD Industrial Real Estates Fund REIT

Smart Organic

U Pro 2018

AAA Partners

New Spring Ventures

Epsilon Bul/Group of Israeli private investors

Isha Asha

Private Investors

Work highlights

  • Advising Bulgarian Property Developments on the development of a commercial and residential project, which will be constructed on the site of its old warehousing and industrial facility, a 100,000m² plot in the Lozenetz district.
  • Advising Arco Vara on all aspects of the preparatory phase of the first stage of Botanica Lozen, a project for the development of a luxury residential complex with sport facilities, shops, kindergarten, etc.
  • Advised BPD Ringroad during the preparatory and construction stage for the second phase of the Sofia Ring Logistics Park which will provide high-tech premises for the storage of drugs.

Popov, Arnaudov & Partners

Popov, Arnaudov & Partners has demonstrable experience in handling acquisitions of real estate in Bulgaria, as well as advising on the full life cycle of investment projects, from urban planning, financing, development and construction to project management following completion. Sibina Eftenova, who represents clients in property disputes, jointly leads the team alongside senior associated partner Bozhko Poryazov, who specialises in real estate investments, property law, construction and spatial planning.

Practice head(s):

Sibina Eftenova; Bozhko Poryazov


‘The law firm real estate team is competent, experienced and client-oriented. The firm was meticulous in all stages of planning and negotiation, making sure that all our requirements are met, and at the same time flexible enough to successfully conclude the negotiations with our lessor.’

‘Bozhko Poryazov and Sibina Eftenova are distinguished professionals, combining deep sector (real estate) and general business knowledge with high level of soft skills.’

‘The team spends a lot of its time on real estate and construction. They have developed a separate department and specialised people with very high expertise. We always use them when we need and the service is extremely good, from contracts to different advice on how to handle the process when it comes to industrial real estate, but also most of our colleagues are using their service for private and individuals consultations.’

‘The team of the law office consists of exceptional professionals in various fields of law. The team works quickly, always in the interest of the client, reaching the best solutions according to the situation. The team of the law office consists of responsible people, with analytical thinking and quick and adequate reactions.’

‘The qualities that I appreciate the most in the team are responsibility, the analytical thinking and people’s ability to find the best solutions. In the field of real estate and construction, I work mainly with lawyer Sibina Eftenova and lawyer Bozhko Poryazov. They are both experts in this field, have legal and economic logic and take accurate business solutions for each specific situation.’

Key clients

Aiko, part of XXXLutz Group

Odelo Bulgaria

Huawei Bulgaria

Royal Embassy of Cambodia in Bulgaria

Artstroy 1 Investment

BBI Building Investment




Evrotur Group

Brain Storm Consult

Business Center Evrotur

Work highlights

  • Advised Odelo on the certification, financing and implementation of a €10m project for the construction of a spare parts factory.
  • Represented Aiko in the implementation of an €8m investment project for the construction of a logistic centre, as well as in research and negotiations in several other projects related to its expansion in Bulgaria.
  • Supported the Royal Embassy of Cambodia in restoring possession over the building.


Schoenherr handles a broad range of real estate and construction mandates, including the acquisition, disposal, development and financing of commercial properties. The interdisciplinary team notably acts for strategic investors entering the Bulgarian market and is advising manufacturing company Leoni on the lease and construction of a production factory. Senior lawyer and practice leader Dimitar Vlaevsky specialises in real estate, construction and infrastructure developments, while office managing partner Alexandra Doytchinova provides corporate support and attorney at law Elena Todorova is a key member of the team.

Practice head(s):

Dimitar Vlaevsky

Other key lawyers:

Alexandra Doytchinova; Elena Todorova


‘Great all-round team with legal experts possessing extensive and in-depth experience and knowledge.’

‘Alexandra Doytchinova – Senior adviser with a sharp and quick mind, highly recommendable. Elena Todorova – Provides excellent, hands-on advice even in complex situations.’

‘Ability to successfully resolve complex issues and projects on extremely short notice. Legal advice that can turn the tables for their clients.’

Key clients

Revetas Capital

Enery Development

MET Group

New Europe Property Investments

Revetas Capital

SAP LABS Bulgaria



Mall Varna

OMV Bulgaria

Smurfit Kappa

Alfa Group

Concordia Bulgaria

Work highlights

  • Advised Leoni on its entry into the Bulgarian market and the construction and lease of a production factory in Bulgaria.
  • Advising OMV Bulgaria in connection with its operation, storage, and geographical expansion on a day-to-day basis
  • Advising Mall Varna on its day-to-day management and operation, including on relations with lessees, drafting and negotiating lease agreements, future development of the site.

Wolf Theiss

Wolf Theiss focuses on advising on the structuring of multi-phase projects and real estate investments, financing and corporate mandates for real estate companies, as well as acting as lead adviser to leading retailers, including international clothing company H&M Hennes & Mauritz, regarding commercial lease agreements. The multidisciplinary team also counts Strabag and Business Park Sofia among its key roster of clients. Managing partner Anna Rizova heads the practice with the support of Katerina Kraeva, who handles the financing aspects of real estate transactions. Senior associate Maria Nikolova is another key member of the team. In January 2022, the arrival of Radosveta Kojuharova from Kambourov & Partners further strengthened the offering.

Practice head(s):

Anna Rizova; Katerina Kraeva

Other key lawyers:

Maria Nikolova; Radosveta Kojuharova


‘The team is very well organised.’

‘Individuals are extremely dedicated to client’s interest.’

Key clients

Allianz Bank Bulgaria, DSK Bank, International Bank for Economic Co-operation, Raiffeisenbank Bulgaria, UniCredit Bulbank

Arco Capital Management LLC and Business Park Sofia

BSTDB, EBRD, IFC, Kommunalkredit Austria, Societe Generale, UniCredit Bank



H&M Hennes & Mauritz


Peek & Cloppenburg

Work highlights

  • Acting as exclusive legal adviser to H&M Hennes & Mauritz in respect of its expansion in Bulgaria, including long-term commercial lease agreements in ten locations across the country.
  • Advising Strabag on corporate matters with regards to the various subsidiaries in Bulgaria as well as providing on-going advice on compliance matters.
  • Advising BPS Group on the refinancing of a real estate property and obtaining an additional loan for the construction of the new Building 16 within the territory of the largest office park in the Balkans.


CasePro’s ‘real estate team shows razor-sharp intellect’ in mandates ranging ‘from lease and sublease relations to due diligence of immovable properties’, as well as acquisitions and development of residential and commercial properties. Spartak Yovchev leads the practice group, which includes corporate partner Boyan Lazarov and attorneys Plamena Krasteva and Silvia Stoyanova. The team counts Bulgarian Burger, DSV and WHG Services among its key clients.

Practice head(s):

Spartak Yovchev

Other key lawyers:

Boyan Lazarov; Plamena Krasteva; Silvia Stoyanova


‘I have worked with CasePro for several years on a number of complex legal issues. Our results have been outstanding, and our company fully relies on their expertise in the field of real estate transactions. But, almost equally as important is the team’s responsiveness to my questions and requests throughout the process. The firm is a perfect example of great results and excellent service.’ 

‘So far, I have had great experience working closely with Spartak Yovchev, Boyan Lazarov and Silvia Stoyanova, I would strongly recommend them for their kindness, dedication and professionalism. I have also cooperated with Plamena Krasteva who has proved to have solid knowledge and experience in various areas of law. We will continue to rely on the solid legal expertise and strong proactive thinking of all CasePro experts for the strategic development of our projects.’ 

‘I have been working exclusively with Spartak Yovchev and I really enjoy his proactive way of thinking and extensive legal expertise. His strong legal background has always made us confident, and we feel he is the exact legal partner who can help us develop our complex business activity. Further to that, I have also cooperated with Plamena Krasteva and it is obvious to me that she is fully dedicated to perfection of each case. I have very great impressions from the work of Boyan Lazarov, who is a super talented lawyer.’ 

‘For me, CasePro’s expertise in the field of real estate transactions is irreplaceable. Their advice on all kinds of transactions, from lease and sublease relations to due diligence of immovable properties is very adequate and business oriented. This firm is known for the negotiations skills of its lawyers, and they are great negotiators when it comes to the final adjustments of the real estate transactions.’ 

‘I have had the opportunity to rely on the competent advice and the quality of the services provided by CasePro partners, Spartak Yovchev and Boyan Lazarov. Both stand out with a strong sense of personal accountability and determination to deliver the best legal product. In my day-to-day work, I also depend on the exceptional knowledge and expertise of other members of their team, including Silvia Stoyanova and Plamena Krasteva.’ 

‘CasePro team supported our company in the process of preparation and execution of a significant sale-purchase transaction. I can confirm that CasePro team is doing a great job for us, and we fully trust their professional legal expertise.’ 

‘Spartak Yovchev is an excellent lawyer and very skilful negotiator. Plamena Krasteva is forthright, ethical, and supremely conscientious.’ 

‘Choosing CasePro Law Firm for the complex case of my company was the best decision I could have made. The real estate team shows razor-sharp intellect and a keen interest in representing their client’s interests to the very best of their ability. They bring the full weight of their knowledge and experience to complete each and every transaction.’

Key clients

Litexco Bulgaria

Bulgarian Burger

Property Club Bulgaria

Lufthansa Technik Sofia


SumUp Ltd. Bulgarian Branch


Rhythm Engineering

Scale Focus

SumUp Services


Tamarind Properties

SumUp EU Payments

Property Club Project 1, 2, 3

Defacto Retail Limited Sirketi Bulgaria

Tamarind Properties

Pure Energy Ventures

Martindale Holdings


Pontica Solutions

WHG Services (Bulgaria)

DSV Road

SumUp Real Estate


Musala Contact Center

TDB Play

Concrete Fund

Work highlights

  • Advised DSV Road on the sale and leaseback of its logistics base in Sofia.
  • Advised Software AG Development Centre Bulgaria on the long-term lease of its new office location in Sofia, Bulgaria.
  • Advised long-term client Bulgarian Burger on the construction of its new key restaurant location in the city of Burgas.

Deloitte Legal Law Firm

The real estate and construction practice at Deloitte Legal Law Firm is well-placed to leverage the expertise of the firm’s tax, financial advisory and accounting services to act for local and international banks on property financing matters. The team’s caseload also includes acquisitions and real estate disputes. Managing partner Renata Petkova leads the practice group and is supported by managing associate Kaloyan Yordanov.

Practice head(s):

Reneta Petkova; Kaloyan Yordanov

Other key lawyers:

Konstantin Ivanov


‘Kaloyan Yordanov is particularly strong in the area. Konstantin Ivanov is normally part of all real estate assignments. He has very strong commercial judgement combined with outstanding legal experiences. He has innovative approach and want to get the job done which is very valuable.’

Dinova Rusev & Partners

Noted for its expertise in mall management and hospitality services, Dinova Rusev & Partners advises its diverse roster of clients, including two of the largest shopping malls in Sofia, on transactions, real estate-related litigation and construction matters. Georgi Vladov heads the practice group and is supported by co-founding partner Anelia Dinova, who is active in the field of commercial real estate, and litigator Iliya Grozdanov.

Practice head(s):

Georgi Vladov

Other key lawyers:

Anelia Dinova; Iliya Grozdanov


‘Dinova Rusev & Partners is highly competent, solution oriented, dedicated to resolving any matter while taking into consideration all legal risks involved and finding the most efficient way to mitigated them.’

‘The team includes professionals with diverse backgrounds and specialisation who collaborate effectively, both within the team and with the client.’

Key clients

Assos Capital

AP Retail I



South Ring Mall Sofia

Baltic International Bank

Eko Bulgaria

Terna Energy


Sun Foods

Imerys Minerals Bulgaria

Gorubso Kardjali

House Market Bulgaria


MG Consult

Trade Estates Bulgaria

Danaos Development

Work highlights

  • Assisted AP Retail I  on the management of one of the largest retail centres in Sofia including tenant negotiations, real estate-related litigation, advice on ongoing construction matters and cadastre issues.
  • Advising MG Consult acting as project manager on ongoing issues of construction of a Class A office building in Sofia with total built up area of 50,000 sqm.
  • Advising Danaos Development on structuring, project development and construction of a €40m residential project, including inventing a complex structure of the relations with the contractor and leading the negotiations on its implementation.

Gugushev & Partners Law Office

Gugushev & Partners Law Office advises domestic and international companies, including Hareon Solar Technologies, Strabag Real Estate and Unique Estates, to name a few, on real estate transactions, such as advising Praktiker on the potential acquisition of real estate for the construction of a new retail park. The team is led by Petko Angelov, who is ‘well versed in handling the full spectrum of real estate and construction matters’.

Practice head(s):

Petko Angelov; Stefan Gugushev

Other key lawyers:

Reni Petrova; Ivelina Atanasova


‘The remarkable professional qualities of Mr. Angelov and Mrs. Petrova result in exceptional synergy which benefits the business process especially in the tentative and highly dynamic area of real estate. The in-depth knowledge and out-of-the-box approach of Mr. Angelov made the process of our interaction grounded and agile at the same time.’

‘Gugushev & Partners have comprehensive understanding of the real estate market in Bulgaria and provided us with valuable business insight. What is more, they have large team of legal professionals with deep knowledge in numerous areas of law which enables us to act swiftly in any matters that may arise, such as complex due diligence, banking loans, dispute resolutions, GDPR and others.’

‘We mainly work with Petko Angelov who leads the real estate department at Gugushev & Partners. Among his team we would like to distinguish Reni Petrova who is our go-to legal expert for any day-to-day matters. She is easy to reach, provides comprehensive advice and we acknowledge her growing expertise. On the other side Petko is an amazing leader who empowers his team, he is also an expert in all real estate and construction matters. Mrs. Petrova contributed with timely, proactive consultancy and detailed examination of all existing bottlenecks.’

‘Our legal advisors were Mr. Petko Angelov and Mrs. Ivelina Atanasova. They work as a perfect complementary team. Mr. Angelov is a top legal expert, an excellent negotiator and well versed in handling the full spectrum of real estate and construction matters. Mrs. Atanasova also has long experience in the real estate sphere and satisfies all our business needs, such as monitoring of the legal risks in the documentation, consultation on rulings and regulations for transactions and many other day-to-day matters. She is efficient and really diligent.’

Key clients

Strabag Real Estate


Hareon Solar Technologies

Madara Print

AD Invest

Unique Estates

STP Property

Aquarosa Invest

Nord Holding


APS Bulgaria


City 52

Work highlights

  • Advising Strabag Real Estate on an ongoing basis regarding its investments in the real estate sector in Bulgaria.
  • Advised Praktiker in connection to the acquisition of real estate for the construction of a new retail park.
  • Advising Arkel on various real estate acquisitions, regarding the development of office buildings in Sofia.

Murgova & Partners Attorneys at Law

Murgova & Partners Attorneys at Law acts for local companies and investors on real estate transactions and construction matters, as well as advising foreign clients on the purchase and sale of land and property in Bulgaria. Managing partner and ‘highly professional lawyerPetya Murgova leads the practice group and is supported by Alexander Moskov. Key clients include DMT 2010 and the Specialized Hospital for Rehabilitation.

Practice head(s):

Petya Murgova; Alexander Moskov


‘I would single out the managing partner Petya Murgova as a highly professional lawyer. She is extremely responsible and has an extensive legal practice in real estate and construction, almost 30 years. She has also impressed us with her ability to come up with efficient strategies and identify potential risks. Mr. Alexander Moskov is the other leading lawyer, who we would like to single out for his reliability and excellent knowledge of real estate law.’

‘The team has long-term experience in this field, being consultants to numerous successful projects. We were provided with the full set of necessary legal services including with detailed and well-founded legal due diligence reports, helpful advice on the most beneficial structure of the relations with third parties, assistance during the conducted negotiations, as well as the full set of necessary documentation.’

‘We highly value the individual approach of the team and on this basis, we describe them as a counsel we could always count on.’

Key clients

Duev 90

Specialized Hospital for Rehabilitation


Fobos Auto

PIM Haskovo

DMT 2010

N – Style

Asha Invest

AGK Consulting and servcies

Chateau Louise et Louis

Work highlights

  • Advised DMT 2010 on the drafting, negotiation and completion of an agreement for establishment of right of construction, for the construction of a residential building in central Sofia.
  • Advised Chateau Louise et Louis on the drafting, negotiation and completion of an agreement for pipeline, heating and ventilation services.
  • Advised Building Express on numerous acquisitions of real estate deals in connection to the client’s building activities.

BWSP Ilieva Voutcheva & Co Law Firm

BWSP Ilieva Voutcheva & Co Law Firm acts for both sellers and buyers on real estate transactions, including the acquisition and purchase of land plots, as well as development projects, and counts construction companies among its key roster of clients. ‘Impeccable expertRossitsa Voutcheva leads the practice alongside Diliana Ilieva.

Practice head(s):

Rossitsa Voutcheva; Diliana Ilieva


‘Rossitsa Voutcheva is an impeccable expert in property law. She is familiar with property legislation inside and out. Her experience gives her the opportunity to tailor her advice from both a legal and business point of view.’

‘Viktor Ivanov’s knowledge of property law is on par with Ms. Voutcheva, giving advice on the go, when required of him. Mr. Ivanov handles matters with great care and perfectionism. I do not think that both of these individuals can offer more, as they give everything. I am delighted to be working with them.’

‘The team is very business savvy.’

‘A great advantage is the combination of experience and innovative thinking of the lawyers. I like that the firm’s approach is professional but also personal towards my business and my team.’

‘I have always received advice on time and there is always someone from the law firm team who is available to take care of the tasks that I have. I am pleased that I can receive a wide range of services in one place which saves me time to concentrate on the business aspects of the work.’

‘The lawyers are very bright and experienced and are true assets to be part of any team.’

Key clients


Enery Development Thracia Solar

Tsenovo Solar Plant


SAAV Engineering


Rolling Whales & Co

Kingsforth Invest

Metropolitan Holdings


Akrotiria companies


Work highlights

  • Advised Kingsforth as the buyer of a new luxury real estate project near Sofia.

Danailova, Todorov & Partners

Danailova, Todorov & Partners acts for domestic and international clients across the telecoms, retail and renewable energy sectors on issues concerning ownership of property and real estate acquisitions. Founding partners Maria Danailova and Kaloyan Todorov lead the practice group and are ‘aware of the specifics of the local real estate market’.

Practice head(s):

Kaloyan Todorov; Maria Danailova


‘We had several online consultations, and they were extremely helpful. They managed to review my contracts and pinpoint multiple issues that had not occurred to me beforehand.’

‘Maria Danailova and Kaloyan Todorov are extremely experienced and are very aware of the specifics of the local real estate market. It shows that they have consulted many clients before in similar transactions.’ 

‘I would like to specifically mention Kaloyan Todorov and Maria Danailova – the two managing partners in Danailova, Todorov & Partners. They are an excellent team, and both seem to be great professionals and lawyers. I value their straightforwardness in negotiations, in client communication and their professionalism. They stand out because they have great business awareness, connections and legal knowledge.’ 

‘Maria Danailova is an experienced lawyer, always knows how to contribute to the client’s value, providing the best solution, result oriented, calm, polite, creative, hard working to achieve the client’s target.’

‘Kaloyan Todorov is the other best player in the team. He is very innovative, a nice presenter of the solution of the problems, creative thinker and a good professional. He always finds the best practices and implements them to achieve the result. Always contributes to the clients’ values, organising the team to obtain the best performance.’

‘The two managing partners Maria and Kaloyan and very good professionals. They have multiple years of experience in real estate, and they know what problems to anticipate before they arise. Also, it shows that they are committed to the highest levels of professionalism. I’ve had no problems with communication. They are always on point, quick to reply and give the right kind of advice.’ 

‘The team is great! Mariya and Kaloyan are very professional and knowledgeable. I am very satisfied by their attention to detail and the speed of their replies. They have an excellent procedure of client communication and invoicing, everything is done in a very transparent manner.’ 

Key clients

Dilcom Bulgaria

Porr Bau

Porr Bulgaria

Aran Engineering


Technika Bg

Work highlights

  • Advised Dilcom Bulgaria on a deal for transfer of ownership to part of the installed structures in the client’s facility, and grant of right of use to the facility itself.
  • Performed due diligence and advised Topsystem on the acquisition of a property for the purpose of expansion of their business operations in the field of renewable energy sources and energy efficiency.
  • Advised a telecoms company on a potential deal with one of the leading mobile operators for acquisition of their entire telecoms infrastructure.

Dyulgerova & Penkova Law Firm

Dyulgerova & Penkova Law Firm’s caseload includes real estate and construction projects, in addition to advising global corporation Adidas and local consultancy company Regent’s Property Advisors on lease agreements. Clients rely on the expertise of practice leader Victoria Penkova and Diana Milkova 'for any real estate issues, including day-to-day business activities’.

Practice head(s):

Victoria Penkova

Other key lawyers:

Diana Milkova


‘For any real estate issues, including day-to-day business activities, we are relying on the expertise and the advice of Victoria Penkova and Diana Milkova. Both are highly experienced, easy to communicate with and cooperation with them is very efficient and commercially beneficial.’

‘Victoria Penkova has vast experience and expertise in real estate.’

‘Diana Milkova is great at providing efficient solutions to elaborate real estate problems.’ 

‘The team of the law firm is very business orientated and with intention to carrying out matters in a most efficient manner.’

‘For us the firm has introduced a more personal and direct approach of working with the client, which results in a more transparent and trusting professional relationship, leading to always clear and tangible results.’

‘We are especially pleased with the fact that the team manages to successfully navigate the realisation of our interests when it comes to negotiating the terms and other legal aspects of the commercial deals we conclude.’

‘The work of the team on the project is key for us due to the expertise they provide in the field of legal real estate. Their considerable and profound knowledge aids us greatly in dealing with the complex and diverse regulations in that area.’ 

‘Victoria Penkova was outstanding in negotiating and advising us. Apart from her impressive legal knowledge, she also has exceptional knowledge of the market and the market participants. This gave us confidence to make the right decisions for the firm.’

Key clients

adidas Bulgaria

Regent’s Property Advisors

Saint George Palace

GK Bulgaria EAD, GK EAD, GK Construction

CAF Signalling

Trading 212

Fast Track

Work highlights

  • Advising adidas Bulgaria on an ongoing basis regarding commercial lease agreements.
  • Advising CAF Signalling on a construction of signalling and telecoms systems and the European Rail Traffic Management System Project in regard to the development of the Sofia railway junction.
  • Advising GK Bulgaria on various construction matters related to the construction of a large complex.

Kinkin & Partners

Kinkin & Partners’ real estate, urban planning and construction works practice handles investment projects for residential and public buildings and subsequent development procedures, from construction planning to permits, building management and leases. Noted for its capability in transactions and financing, the team is led by partner Adriana Nacheva.

Practice head(s):

Adriana Nacheva


‘The service they provided was outstanding and the attitude towards their work is on an entirely different level. The team put great effort on resolving the case.’

‘They possess great work ethic and are very diligent in their work. Whenever I had questions or needed to discuss the case with them, they were very polite and understanding of my needs and preferences as a client.’

Key clients




Laurea Nadezhda

Millenium Gate

Quattro Properties

Trust Control

Work highlights

  • Assisting one of the biggest joint stock companies for plant protection products in Bulgaria, Agria.
  • Supporting the realisation of a big infrastructure and construction project of Laurea Nadezhda.
  • Assisting Quattro Properties in the process of realisation and sale of the investment intention of the client to build a complex of luxury leisure houses.

Tokushev And Partners Law Office

Tokushev And Partners Law Office acts for its roster of clients, including banks, financial institutions and high-net-worth individuals, on a range of property transactions, such as advising Bulgarian manufacturer Oliva on the acquisition of the Kaliakra plant in Dobrich. Noted for his expertise in REITs, founder and managing partner Viktor Tokushev leads the team.

Practice head(s):

Viktor Tokushev

Other key lawyers:

Bogdan Karadjov


‘I have worked with Viktor Tokushev, the firm’s founder, for many years and I believe he is one of the best experts on a national scale in real estate matters. He is very focused and detailed in his work. It has always been a pleasure to work with him.’

‘The team has vast experience in real estate and construction area; they were able to support us in all aspects of the transaction. Collaboration worked very well, even if it was solely at a distance.’

‘We worked closely with Bogdan Karadjov, who provided us with intensive support in often difficult negotiations of contracts in the construction area. The advice and recommendations were provided in clear language and were to the point. He has an eye for detail and contracts were always diligently prepared. He reacted quickly and provided required help even within tight project deadlines.’

Key clients

KBC Group N.V.

United Bulgarian Bank

DZI General Insurance


M2 Prom


Orgachim Resins

Danone Bulgaria

Bulgarian Development Bank

Work highlights

  • Advised Oliva on the acquisition of the Kaliakra plant from Kaliakra, the Bulgarian subsidiary of the global agricultural giant Bunge.
  • Advised M2 Prom on the acquisition of an industrial property that is intended to be their new production and storage base.
  • Advised long-standing client KBC Branch Bulgaria in regards to a construction contract that saw a shopping area of over 2 200 sq.m. being transformed into office premises.