Firms To Watch: Real estate and construction

The real estate team at Arsov Natchev Ganeva advises on the acquisition, financing and development of properties throughout Bulgaria and furthermore provides legal advice to its clients during construction projects.
Dobrev & Lyutskanov are well versed in the entire implementation process of real estate investment projects, from initial due diligence through to the sale and purchase agreements.
Georgiev & Kolev Law Offices advises on real estate transactions, lease agreements and construction projects, including the acquisition and development of large retail parks and malls across Bulgaria.
Kolev, Angelov & Miteva Law Firm covers a broad spectrum of real estate matters, from the acquisition of land plots and properties to zoning and permitting issues, leases and related real estate tax matters.

Real estate and construction in Bulgaria

Andonov & Radinska Law Firm

Banks and equity funds, investors and international retailers turn to Andonov & Radinska Law Firm for its ‘unmatched’ real estate and construction expertise. The firm offers comprehensive support on the full lifecycle of construction projects, starting from transaction preparation, due diligence reports, and acquisitions of property or land through to the development of and finally exiting the project. Hristo Andonov and Diliana Radinska have experience of acting on major Bulgarian real estate projects and investments and are therefore well placed to lead the practice.

Practice head(s):

Hristo Andonov; Diliana Radinska


‘The team has in-depth real estate experience. The practice is unmatched and has 15 years’ experience specialising in shopping malls legal consultancy and legal case studies.’

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

Retail Park Sliven

Work highlights

  • Advised a German international discount retail chain in respect of the acquisition of land plots in all regions of Bulgaria for the construction and operation of supermarkets with roof-based solar power plants.
  • Advised JYSK in respect of the operations of its logistics and distribution centre in Sofia.
  • Advised New Europe Property Investments Rockcastle in respect of new leases and the renewal of its existing commercial leases and property management services portfolio.

Boyanov & Co.

Boyanov & Co. stands out for its extensive experience of advising on major projects in the real estate and construction sector, where the team follows a multidisciplinary approach to cover all M&A, energy regulatory, financing and real estate aspects of the projects. Among the firm's impressive work highlights are advising on the acquisitions of shopping malls, the construction of large hotels, the acquisition and financing of office buildings, the construction of renewable energy projects and the development of residential property on greenfield areas. The team is led by property lawyer Nickolay Nickolov, who is well versed in the construction of renewable energy projects, lease agreements, ownership issues and acquisitions, and is supported on projects by Svetlana Tzvetkova.

Practice head(s):

Nickolay Nickolov

Other key lawyers:

Svetlana Tzvetkova


‘The team is very well organised, diligent and professional. Their advice is always helpful and well thought through.’

Key clients

Actis Eastern Europe Energy S.a.r.l. (part of Actis group)

FHL Kiriakidis group

Golf Okol AD (part of Markan Holding)

PCI Pharma Support

Cleves EOOD

Silver Star Motors

Ideal Standard – Vidima AD


Mondelez Europe Services GmbH

Jacobs Douwe Egberts OPS BG EOOD

Schreiber foods

Work highlights

  • Advised Actis Eastern Europe Energy S.a.r.l. on the acquisition of a Bulgarian company developing a PV project with a capacity AC of 199 MW.
  • Advised DSK Bank AD on the funding of EUR 88 million for the construction of a solar park in Bulgaria.
  • Advising Golf Okol on the “Okol Lake Park” project, which includes residential, office and retail buildings, a school, a hospital, a 5* hotel and restaurants.


Logistics, retail, construction and materials, energy and insurance are among the industries in which the extensive client base of the CMS real estate and construction team is active. The mandates handled by the team cover a broad spectrum, including the financing of retail, commercial, industrial, residential and leisure facilities, real estate transactions, due diligence reviews, the preparation of construction agreements and related disputes; it is frequently engaged on cross-border matters owing to the firm's global set up. Dispute resolution, public procurement and real estate expert Antonia Kehayova co-heads the practice alongside Jenia Dimitrova, who clients regard as ‘one of the best real estate lawyers in Sofia’.

Practice head(s):

Jenia Dimitrova; Antonia Kehayova

Other key lawyers:

Vaska Solakova


‘They are highly specialised in real estate, not aggressive in their approach and have team members with different skillsets that complement each other.’

‘Jenia Dimitrova is one of the best real estate lawyers in Sofia. She has extensive experience and has advised on some of the largest transactions in the country within different segments – office, retail, industrial and others. She is very skilled in providing relevant and persuasive arguments.’

‘CMS have been extremely helpful. The team have provided timely and commercially minded advice. I highly recommend them.’

‘I worked with Jenia Dimitrova. She has excellent knowledge of the law and realities of the Bulgarian real estate market, coupled with strong organisational skills.’

‘Vaska Solakova is a bright, promising young practitioner with excellent communication skills. Her work ethic, technical knowledge, and studies and experience abroad clearly set her apart from other practitioners that I have come across in the region.’

‘The Bulgarian RE team at CMS were able to assemble a project team from their international offices in next to no time and were eager and able to assist us with what was a very complex project.’

‘Jenia Dimitrova was the focal point of our operation, effectively managing and directing her cross-border team to assist us with the project in question. I was really impressed with how she essentially conjured a fully functioning team from a standing start within just a few days.’

‘CMS have a great team and excellent expertise in commercial real estate leasing.’

Key clients


EKO Bulgaria

Cordeel Bulgaria EAD

Trans Vision

UniCredit S.p.A.

Work highlights

  • Advised CTP on the acquisition of land and of over 10 logistics buildings located in two locations in Sofia.
  • Assisted on the sale of EKO Bulgaria’s real estate assets in Sofia and Varna and assisted with the expansion of EKO’s gas station network.
  • Advising UniCredit Italy on the full amendment and restatement of the real estate financing agreement for a shopping centre in Sofia.

Dimitrov, Petrov & Co

Transactional work is at the heart of the Dimitrov, Petrov & Co real estate and construction practice, which assists major international and local clients with all stages of the process, including the initial research, due diligence, negotiations and preparation of legal documentation and the resulting tax implications of the transaction. In addition to this, the team is frequently instructed to advise on the structuring of joint ventures, the development, planning, investment and financing of real estate projects, and the drafting of leasing and maintenance agreements. Boyana Milcheva, who is considered ‘one of the most respected real estate lawyers in the country’, leads the practice alongside Alexander Todorov, who has extensive experience in real estate-related transactions and disputes. Pavlina Ivanova is another key lawyer in the team who primarily focuses on real estate and foreign investment matters.

Practice head(s):

Boyana Milcheva; Alexander Todorov

Other key lawyers:

Pavlina Ivanova; Nikolay Kolev


‘A law firm’s strengths are often a combination of its people, practices, reputation, and values. DPC has it all. The team is extremely capable, diverse and dedicated to the client’s success. With them I know that I will receive an exceptional legal service.’

‘The real estate team of DPC is capable, knowledgeable and trustworthy. Their open and transparent communication style was invaluable, as it allowed me to feel involved and informed at every stage of our joint work.’

‘If you’re looking for a lawyer who will tirelessly fight for you and will provide unwavering support, Boyana Milcheva is the attorney you can trust. Boyana shows remarkable depth of knowledge and expertise in construction and real estate. Pavlina Ivanova and Nikolay Kolev from the team are also very dedicated, leaving no stone unturned in their pursuit of a favourable outcome. Their attention to detail and meticulous research were evident in every document they prepared.’

‘DPC have been our trusted advisers for years and we can recommend them as exceptional professionals in the area of real estate, including legal due diligence, negotiations, the acquisition, construction and sale of buildings, and many other areas. We are delighted to work with such qualified and positive professionals.’

‘Boyana Milcheva is one of the most respected real estate lawyers in the country. Her legal knowledge is immense and her advice is impeccable. Pavlina Ivanova is the other gem in their real estate team – very reliable, client-oriented and well-read. Working with both of them is a real pleasure.’

‘Boyana Milcheva is an expert and is one of the best lawyers I have worked with. She has a 360-degree view of our business, and she always considers every aspect of the deal (tax, regulatory, corporate, etc.). Pavlina Ivanova and Nikolay Kolev deserve recognition – they are both hard-working, experienced, and provide clear and concise advice.’

‘Alexander Todorov and Boyana Milcheva are fully committed to their clients’ projects. They are competent, responsive, reasonable and result oriented. I would also like to mention Pavlina Ivanova, who has such an eye for detail in transactions.’

‘A young and enthusiastic team, who are at the same time very competent and have deep knowledge of the industry. They are flexible and result oriented, accessible and have good communication skills.’

Key clients

ABDS Invest

European Wind Farms Bulgaria ApS

Targovska companya

J Investment

Medika 2012

Sliven Eparchy (part of the Bulgarian Orthodox Church)

Mareshki Nedvizhimi Imoti

Orbiko Bulgaria

Varna View Residence


Pepkor Europe GmbH

Pilco EOOD

Lucid Link


Work highlights

  • Advised ABDS Invest on the development of two solar power plants of 5 MW each.
  • Advising European Wind Farms Bulgaria ApS regarding the development of a solar power plant.
  • Advised Targovska companya on the acquisition of grain storage.

Djingov, Gouginski, Kyutchukov & Velichkov

Djingov, Gouginski, Kyutchukov & Velichkov leverages the expertise of its multidisciplinary team to offer a comprehensive legal service to its real estate and construction clients, including but not limited to advice on acquisitions, investment in greenfield developments, zoning and environmental issues, insurance matters and real estate litigation. The firm’s client roster includes foreign and domestic contractors and investors who operate in the retail, hospitality, energy and infrastructure sectors. Founding partner Stephan Kyutchukov has extensive experience in high-value real estate projects, as does fellow practice head Kaloyan Krumov, who advises commercial and real estate property developers on greenfield and brownfield projects. Maya Mircheva is also a key contact in the practice.

Practice head(s):

Stephan Kyutchukov; Kaloyan Krumov

Other key lawyers:

Maya Mircheva; Nikolina Stefanova


‘DGKV is a highly distinguished and reputable law firm in Bulgaria, with a wide range of fields of expertise in which they work. Their big advantage is the individual approach to each client’s needs and they are very quick in finding the proper solution to any given legal matter.’

‘The legal team from DGKV that we work with stands out for its exceptional professionalism, wide range of skills and precise approach in handling complicated legal matters, as well as finding fast and accurate solutions.’

‘Djingov, Gouginski, Kyutchukov & Velichkov stands out due to its exceptional combination of expertise, professionalism, and a client-centric approach. The team possesses deep knowledge of the real estate and construction sector, including a strong grasp of local laws and market dynamics. Our experience with Djingov, Gouginski, Kyutchukov & Velichkov has been exceptionally positive. Their unique blend of expertise, client-centricity, and innovation sets them apart in the real estate and construction legal landscape.’

‘I would like to express my appreciation for the outstanding individuals at Djingov, Gouginski, Kyutchukov & Velichkov with whom I had the privilege to work.  In particular, the professionalism, precision, and attention to detail that I have experienced in our interactions have set them apart. Their thorough analysis of all possible avenues, tailored to our specific case, has been a standout feature of their approach.’

‘Kaloyan Krumov displayed a profound understanding of the legal intricacies involved but also employed methods, approaches, and strategies that ultimately led to the successful resolution we sought.’

‘The individuals at Djingov, Gouginski, Kyutchukov & Velichkov have consistently stood out for their professionalism, precision, and dedication to achieving the best outcomes for their clients. Maya Mircheva and Kaloyan Krumov, in particular, have been exemplary in their contributions, and their qualities have been instrumental in our successful partnership.’

‘Great local expertise with an international approach and application.’

‘I’m thankful for the hard and precise work on facility lease contracts carried out by Nikolina Stefanova and Kaloyan Krumov. Both are highly qualified.’

Key clients

SOF Connect

Grand Hotel Bulgaria 2016 AD

NEPI Investment Management SRL

Omniva LLC

LEM International SA

Acibadem City Clinic EAD

AP Capital AD

AVANTech, Inc

Oman Investment Authority

European Parliament, Luxembourg

Woodward Bulgaria EOOD

Mango (Punto Fa S.L.)

Hercesa Bulgaria EOOD

Dell Emerging Markets

Deutsche Lufthansa AG

Foundever Bulgaria EOOD

Provitech Solutions ЕООD

Work highlights

  • Advised SOF Connect on drafting several agreements on the FIDIC terms for the expansion of the open parking area of Sofia Airport and the refurbishment of the existing covered parking.
  • Advised AVANTech, Inc. on a contractor’s claim under the engineering and construction agreement for a project regarding the treatment of radioactive wet solid waste for the State Enterprise Radioactive Waste Kozloduy Nuclear Power Plant.
  • Advised AP Capital AD on a series of acquisitions of 5 residential real estate development companies in the region of Sofia.

Kambourov & Partners

Kambourov & Partners is instructed on commercial, residential and industrial infrastructure projects, most recently seeing an increase in its work on retail centres and office buildings. The real estate and construction team has in-depth expertise not only in the construction process, but in the entire lifespan of properties, ranging from due diligence reports, land acquisition and the surrounding regulations to the planning, financing and investment in projects, and finally leasing and landlord and tenant concerns. Atanas Shopov has ‘exceptional expertise in real estate and construction matters’ due to his lengthy experience of advising on commercial, infrastructure and industrial projects for a range of clients.

Practice head(s):

Atanas Shopov

Other key lawyers:

Dimitar Alexandrov


‘The team provides prompt and high-quality services where the motivation of the lawyers and their level of expertise is consistently shown. Responses were accurate and always provided in close cooperation with the in-house lawyers of our company and their service was excellent.

‘Atanas Shopov has exceptional expertise in real estate and construction matters. He always demonstrates a problem-solving attitude and is extremely devoted to achieving a result in the client’s interest. He has excellent knowledge of the industry.’

‘We are very pleased to work with a team with such a deep expertise in various fields.’

‘The individuals we work with stand out for their deep expertise, quick responses to the matters discussed and ability to find the proper solutions quickly.’

Key clients


Alpiq AG

WITTE Automotive

CNNP Rich Energy Co.


Kaufland Bulgaria

Citygas Bulgaria

Kapsch Trafficcom AG


Schwarz IT Bulgaria

Kamenitza AD

HS Timber

United Group


Atland Investments

Ares Engineering

Work highlights

  • Advised Escatec on its entry into the Bulgarian production market, including providing advisory support on property leasing.
  • Provided assistance to WITTE Automotive on expanding its production capacity through a EUR 25 million investment by the company.
  • Advised Kaufland on the real estate aspects of its EUR 25.6 million investment in the reconstruction of the Central Sofia Market Hall.


Kinstellar covers a multitude of matters across the real estate and construction space, including major property acquisitions, commercial leases for clients in various sectors and regulatory advice. The firm has particular strength in advising international real estate investors on investment structuring and the acquisition of real estate portfolios, entry into the Bulgarian market, and various planning and zoning matters. Antonia Mavrova is the practice head and brings extensive knowledge of lease agreements and retail, logistics and office projects to the team. She is supported by Atanas Mihaylov and Mladen Minev, who add to the firm's ‘strong expertise in real estate and deep knowledge of the Bulgarian market’.

Practice head(s):

Antonia Mavrova

Other key lawyers:

Atanas Mihaylov; Mladen Minev


‘Kinstellar offer a very good service level and respond quickly. They keep an eye on the market and all legal developments and are always ready to think outside the box and provide creative solutions. Their advice is commercial and practical, while at the same time safeguarding our interests.’

‘Antonia Mavrova is not only diligent and proactive, but also very commercially aware and thinks one step ahead. She is very client-focused and has a passion for the industry. Antonia is very knowledgeable in a wide variety of real estate transactions and provides great advice on all aspects of the project.’

‘Mladen Minev is a very strong professional, knowledgeable and highly reliable. He has a strategic approach and is excellent when it comes to complex cases with high stakes.’

‘I have always been delighted to work with Kinstellar’s competent and dedicated team. With their strong expertise in real estate and deep knowledge of the Bulgarian market, they manage to deliver an excellent level of service. They are very knowledgeable of the specific market practices and handle complex projects with ease.’

‘Antonia Mavrova is one of the most experienced and reputable lawyers in the real estate field. She is really a step ahead in terms of market knowledge. I have also worked with Atanas Mihaylov and Mladen Minev. Atanas brings a high level of service that helps build a high level of trust with the client. Mladen is excellent and I have absolute faith in his technical ability. He proactive in his advice and always aware of issues that may impact the business.’

‘The team has strong leadership and expertise which flows down to its more junior members. I highly appreciate their commercial way of thinking. They have excellent depth of knowledge and give clear and concise advice that is easy to understand.’

‘Atans Mihaylov is incredibly knowledgeable, with complete understanding of our business. He displays excellent appreciation of the client’s interests and is able to see the benefits and risks of each deal. Atanas focuses on getting the best result for his client.’

‘We are extremely pleased with the outstanding legal support we received from Kinstellar. We couldn’t be happier with the results and the professionalism of the whole team – they exceeded our expectations in every aspect.’

Key clients


CTP Invest

CTPark Kappa EOOD

Global Trade Center

Allianz Bulgaria Holding


HAVI Logistics

Lion’s Head Investments AD


Work highlights

  • Advised HAVI Logistics on the negotiation of a key long-term lease agreement for a distribution centre that is being built for HAVI’s supply chain.
  • Advised CTP on five real estate acquisitions in Bulgaria, including the latest acquisition of four land plots in the area of Plovdiv for the extension of CTP’s logistics facilities.
  • Advised Lion’s Head Investments on the up to approximately EUR 100 million refinancing of investment loans provided by UniCredit Bulbank.

Penkov, Markov & Partners

Penkov, Markov & Partners' wide-ranging real estate and project development practice encompasses advice on high-profile real estate construction projects, including luxury real estate developments, major transactions, the acquisition of land for energy infrastructure, and real estate litigation. Milena Gaidarska is frequently instructed on major construction projects, in which she completes due diligence reports, gives administrative support and secures permits from the relevant authorities. Atanas Valov is another key practitioner in the team and is an ‘established and well-known name in this field’.

Practice head(s):

Milena Gaidarska

Other key lawyers:

Atanas Valov; Boris Strijlev


‘Milena Gaidarska is an exceptional professional with huge knowledge of the market and the technical and legal side of the procedures. She is able to carry a big workload and to manage and oversee projects efficiently. She is our most trusted advisor.’

‘We work mainly with Atanas Valov. He shows diligence, fast thinking, good negotiation skills and the ability to convince the counterparty and overcome their arguments. Milena Gaidarska shows significant knowledge of the regulatory framework regarding the construction process. She is also very experienced in property management matters. Boris Strijlev is well-prepared on our matters, hard-working and responsive.’

‘The team at Penkov, Markov & Partners, and especially Atanas Valov and Milena Gaidarska, are very smart, cooperative and experienced professionals. Atanas demonstrates exceptionally deep knowledge. He is well prepared, has great knowledge of the legislation and reacts quickly.’

‘Penkov, Markov & Partners is perhaps the top real estate legal provider in Bulgaria. We are confident that in complex legal cases they are able to come up with really clever and workable solutions by thinking outside the box.’

‘Atanas Valov has already acquired a great deal of experience and is established as a well-known name in this field. Milena Gaidarska is one of their excellent experts in real estate law who we rely on a lot. Another key team member of theirs is Boris Strijlev, who provides high-quality and very helpful legal support.’

‘The team is very dedicated and punctual. These are very important strengths when it comes to real estate restitution claims in Bulgaria.’

‘In the field of real estate, we work with Atanas Valov. He is very responsible, hardworking and customer oriented.’

‘We have received excellent services and results from Penkov, Markov and Partners, which usually surpass our expectations. The team are highly educated, motivated to solve problems and experienced. All our questions are answered, communication is excellent, and their strategy is smart.’

Key clients

Arteks Engineering AD

Infinity Capital AD


Nadezhda Home EOOD

Primo Plus EOOD

Kamsar Ink OOD

Enikom-Sofia-Sever EOOD

GD Capital Management AD

Mach More OOD

Eurostar OOD

CEP Renewables SL

P&O Real Estate OOD

Borovete 1 AD

Global Biomet EOOD

Luxury Real Estate EOOD

Arteks Zlaten Vek OOD

Artstroy Group

4Smart OOD

NV Create Building EOOD

BG Nova AD

Zagorka AD

Klett Bulgaria OOD

Kare Bulgaria LTD

Glorient Investment BG OOD

APK Brezovo OOD

BG Plant OOD

Imelius OOD

Speedway EAD

Work highlights

  • Advising a public company on a major acquisition of a company which owns a large number of plots of land located on the coast.
  • Advising Arteks Zlaten Vek OOD on all legal matters related to the completion of the construction of the Golden Age project, with a total budget in the amount of EUR 100,000,000.
  • Advising Magna MK EOOD on the development of a skyscraper, designated for multifunctional purposes (including offices, a residential park and a hotel).

Andrey Delchev and Partners - Eurolex Bulgaria

Andrey Delchev and Partners - Eurolex Bulgaria stands out for its work with governmental departments and public bodies on major transport infrastructure projects in Bulgaria. The team is also engaged by private companies and investors regarding zoning, land use and compulsory purchase when it comes to the development of facilities for various purposes. Stoyan Barzakov leads the group and is experienced in infrastructure regulation, concessions and privatisations.

Practice head(s):

Stoyan Barzakov

Other key lawyers:

Magdalena Valova


‘We appreciated their reliability, responsiveness, and resourcefulness throughout their work on our matter. They have considerable experience in the real estate field and have worked on multiple projects in the spheres of state and municipal property and infrastructure.’

‘Magdalena Valova is extremely competent, talented, well-prepared, and professional. Her expert advice has been instrumental to a number of successful deals we have entered into throughout the years. My overall impression of the team is entirely positive.’

Key clients

Nova City Group

Trace Group Hold

Asarel Medet

Ministry of Regional Development and Public Works

Geodesy, Cartography and Cadastre Agency

Asso Home

Nipex Pharma Ltd.

Work highlights

  • Advised Nova City Group on negotiations, legal due diligence, real estate investment deals and construction law cases.
  • Advised the Ministry of Regional Development and Public Works on a project for the management and registration of all state and municipal property in Bulgaria.
  • Advised Nipex Pharma Ltd. on the acquisition of a large municipal property, including the negotiations, the privatisation process and the final acquisition.

Georgiev, Todorov & Co

Georgiev, Todorov & Co‘s real estate and construction department offers advice on various matters, covering sale and purchase agreements, construction agreements and other contract drafting and due diligence reviews, as well as contentious matters, representing clients before various institutions and administrative courts. Miglena Peneva leads the practice and provides the full scope of legal services to construction companies and real estate entrepreneurs. Arno Mamasyan is also a key name to note.

Practice head(s):

Miglena Peneva

Other key lawyers:

Arno Mamasyan


‘The firm has an outstanding team of professionals who can handle really complex matters and this is why Georgiev, Todorov & Co. is our main legal advisor.’

‘Miglena Peneva is an outstanding lawyer with deep and vast knowledge in the area of real estate and construction.’

‘I cannot recommend the real estate practice of Georgiev, Todorov & Co. more highly, particularly Miglena Peneva. Great team with impressive coordination. The firm has all the technology, systems, and diversity of people to handle complex and sophisticated matters.’

‘Miglena Peneva is a trustworthy and skillful lawyer with deep knowledge and expertise in real estate and construction law. She has proven herself to be a high-profile lawyer with the ability to achieve successful outcomes for her clients.’

‘The real estate practice of the firm is impressive and stands out from the rest of the firms we have worked with due to its depth of knowledge and expertise. The team also has a good level of responsiveness and communication, which is very important for us. Overall, we are very satisfied with the legal services provided.’

‘Miglena Peneva has been our preferred and trusted legal advisor for many years, and we have strong confidence in her work. She is without doubt an excellent expert in real estate and construction matters.’

‘Georgiev, Todorov & Co. has a very strong real estate team. The uniqueness of the firm lies in their ability to understand the problem not just from a judicial standpoint but also from a personal one, and therefore they aren’t simply a trusted partner but also someone you can rely on in the toughest moments.’

‘The firm has a really strong practice in real estate and construction law, and we are very satisfied with the legal services provided. The team knows all the relevant regulations in depth, and on top of this it has a strong track record of providing successful legal advice in real estate and construction matters, which is why they are our preferred choice of legal advisor.’

Key clients


Park Lane Mladost OOD

EIS Construction Company AD

Vitez Prospect AD

Bulgarian Branch Chamber “Roads”

Toplivo AD

Yambol Municipality

Ministry of Agriculture, Food and Forestry

National Association of Property Developers


Tobo Group

Atex Properties AD

AG Capital


Pamporovo JSC

European Parliament

Work highlights

  • Advised BLD Zapad OOD and Park Lane Mladost OOD regarding the purchase of major real estate assets.
  • Prepared the legal due diligence of a portfolio of 8 major properties in and outside the city of Sofia for Atex Properties.
  • Advising Vitez Prospect JSCo (formerly Hemus Motorways) in relation to the territorial status of the properties included in highway routes.

Jordanov, Ignatov, Ivanov Law Firm

The real estate and construction team at Jordanov, Ignatov, Ivanov Law Firm ‘demonstrates excellence’ in a broad spectrum of real estate and construction matters. The firm handles corporate real estate transactions, due diligence reports for land acquisition and leasing agreements on the real estate side. For its construction mandates, the team is involved in drafting and securing building permits and advising on the development of complex construction projects; a notable example is its ongoing advice to long-term client Bulgarian Property Developments on the construction of a large residential and commercial project in Sofia. Founding partners Ivan Jordanov and Rumen Ignatov jointly lead the practice.

Practice head(s):

Ivan Jordanov; Rumen Ignatov

Other key lawyers:

Nikolay Ignatov; Dimitar Ivanov


‘The Jordanov, Ignatov, Ivanov Law Firm team has multifaceted expertise and impeccable skills and our satisfaction with its services remains unwavering. The legal team at JII consistently demonstrates swift responsiveness and an exceptional grasp of our business intricacies. Its ability to adapt to our evolving needs and provide effective solutions has been a cornerstone of our successful collaboration.’

‘Rumen Ignatov’s insights and guidance have consistently proven invaluable to our organisation. Nikolay Ignatov possesses an exceptional mastery of regulatory and administrative procedures, and shows proficiency in navigating the intricate web of regulations and procedures.’

‘The real estate department at JII Law Firm has consistently exceeded our expectations, demonstrating excellence in every aspect of our collaboration. Their extensive expertise in real estate matters, combined with their unwavering dedication, has been instrumental in achieving successful outcomes.’

‘JII Law Firm’s real estate department is a paragon of professionalism, offering tailored solutions that align seamlessly with our specific needs. Their comprehensive knowledge of the real estate industry and commitment to client satisfaction have made them an invaluable and trusted partner in navigating the complexities of our business.’

‘All members of the JII team consistently excel in their roles. Ivan Jordanov, Rumen Ignatov, and Dimitar Ivanov have played pivotal roles in our business over the years, contributing significantly to our success. Nikolay Ignatov has also demonstrated remarkable prowess. Their collective expertise and dedication have made JII Law Firm a trusted and valuable partner in our journey.’

Key clients

Bulgarian Property Developments EOOD

Varna Logistics EAD

Arco Vara SA

Fairplay International AD

BPD Ring Road EOOD

Lindner Bulgaria EOOD

Core Construction EOOD

Mundus Services AD

BPD Industrial Real Estates Fund REIT

Industrial Zone Pleven OOD

Tavilog EOOD

Pleven Retail Centre ЕOOD

Castello Precast OOD

Smart Organic AD

Casa Nobile EOOD

Work highlights

  • Providing a comprehensive advisory service to Bulgarian Property Developments in relation to the creation of a mixed residential and commercial project.
  • Advising Varna Logistics AD on the potential sale of its logistics facility.
  • Acting as legal counsel for Lindner Bulgaria EOOD in relation to its Residential Park Lozen project.


Schoenherr is well known for its full-service offering in relation to complex construction projects, including office, retail and industrial real estate and energy infrastructure or green projects. Further specialisms of the real estate team are advising on high-end real estate transactions and assisting investors entering the Bulgarian market with regulatory issues. Dimitar Vlaevsky and Elena Todorova jointly lead the team and are supported by Kristina Lyubenova.

Practice head(s):

Dimitar Vlaevsky; Elena Todorova

Other key lawyers:

Kristina Lyubenova


‘Schoenherr Bulgaria’s real estate and construction team has been an invaluable help for our organisation in its expansion in the Balkans region. We received the expected quality of service, and their excellent cross-border support has provided us with the confidence to kickstart our project.’

‘Fast, efficient, reliable and competent.’

‘Dimitar Vlaevsky has in-depth commercial knowledge and awareness combined with solid experience and impressive legal skills.’

‘Elena Todorova is a goal-oriented professional who understands the client’s needs. She is aware of market developments and the commercial aspects of matters. If a problem solver is needed, I would definitely recommend Elena Todorova.’

‘We are very satisfied with working with Schoenherr. They have a great team of experienced lawyers with an in-depth knowledge of the market and an excellent understanding of all real estate-related legal issues. They are very proactive and always at our disposal. They manage to handle any issue that arise in a very professional, business-oriented way and are eager to identify solutions.’

Key clients

Business Park Sofia

Queisser Pharma


Avenue One Holdings, LP

LILLY Bulgaria

Revetas Capital

MET Group

SAP LABS Bulgaria

Leoni AG

Mall Varna EAD

OMV Bulgaria

Smurfit Kappa B.V.

Alfa Group

Concordia Bulgaria

Husqvarna Group

Work highlights

  • Advising LILLY Bulgaria in connection with the acquisition of a property for the development and construction of its main warehouse for Bulgaria.
  • Advising Business Park Sofia on daily matters related to its operations.
  • Advised Queisser Pharma Bulgaria on the asset deal acquisition of its new office space in Sofia.

Wolf Theiss

Wolf Theiss is engaged by real estate investors and developers for ongoing legal support on construction projects, frequently in relation to renewable energy projects. This covers the full array of services, from due diligence reports and drafting and negotiating the terms of acquisitions to zoning issues and the issuance of permits and licences. Radosveta Kojuharova leads the practice, where her strengths lie in real estate due diligence and deal financing. The department was strengthened at junior level at the start of 2023 when Ivelina Atanasova joined from Gugushev & Partners Law Office and Alexander Arshinkov joined the firm from Popov, Arnaudov & Partners.

Practice head(s):

Radosveta Kojuharova

Other key lawyers:

Ivelina Atanasova; Alexander Arshinkov; Teodor Toshev


‘The team has robust and vast market experience and knowledge thanks to Radosveta Kojuharova. She leads every real estate deal confidently and calmly.’

‘Great in-depth knowledge and market experience. Apart from the partner, the associates are also quite experienced, and this is a sign of a promising future for the real estate practice of the firm.’

‘The Wolf Theiss team is extremely professional. Starting with Radosveta Kojuharova, everyone we have worked with on one or another task has been exceptional and very helpful.’

‘Radosveta Kojuharova and Teodor Toshev are always available to help, extremely to the point and attentive to details. There is no task too small or too big for them.’

Key clients

AG Capital

Lion’s Head Investments

Amarat Properties

Park Lane Developments

Willi Elbe


Regus (now IWG plc)

Intuitive Surgical Operations

River Park Sofia

On International

ACBO The Association of Commercial Building Owners in Bulgaria



Pet Network International


Work highlights

  • Providing full legal assistance to Intuitive Surgical Operations on the development and construction of its EUR 40 million manufacturing facility in Bulgaria.
  • Advising Regus on four different projects concerning subleases in its signature buildings in Sofia.
  • Representing Park Land Developments in all legal aspects of the development of EasyPay’s EUR 25 million headquarters in Sofia.


Large corporations, real estate developers, investors and private individuals regularly turn to CasePro's real estate team for assistance with commercial transactions, negotiating leases and drafting construction agreements during development projects. The team is led by Spartak Yovchev, who is praised by clients for his 'broad knowledge base'.

Practice head(s):

Spartak Yovchev

Other key lawyers:

Boyan Lazarov; Plamena Krasteva; Silvia Stoyanova


‘Spartak Yovchev has a broad knowledge base that covers many practice areas, especially real estate and construction. In addition, Plamena Krasteva has the ability to meet the deadlines announced and excels thanks to her great analytical skills. Also very important for us is the fact that both of them are so good with communication (especially in English) and we have formed a very strong client-counsel connection. Furthermore, Silvia Stoyanova provides strong support when taking difficult decisions during complex deals.’

‘I know the CasePro team to be extremely competent, highly ethical, and very knowledgeable, especially in real estate and construction law, where my firm relies on their partnership of professional expertise.’

‘Boyan Lazarov is a top professional! He is reliable and dedicated.’

‘Boyan Lazarov has a proactive way of thinking and extensive legal expertise. Plamena Krasteva is hands-on, very interactive and in-depth in talking through issues of potential legal concern in the case, which helps us to consider and prioritise the issues that need to be dealt with first.’

‘CasePro has been our trusted legal partner for a couple of years. Judging from my experience, for over the past few years CasePro has gathered a talented and devoted team of experts with excellent communication skills and outstanding legal knowledge.’

‘We are really satisfied with CasePro taking care of our legal operations in Bulgaria – in particular, the team’s reliable knowledge and experience in a wide range of legal matters in the fields of real estate and investments. The qualities of CasePro are agility in handling legal matters, flexibility and dedication to providing comprehensive solutions and advice.’

‘Engaging with CasePro’s team has been valuable due to their deep theoretical and hands-on expertise in commercial and real estate matters. Their nuanced understanding of the real estate sector, paired with insights into specific practical aspects, has facilitated the successful completion of our pivotal transactions.’

‘Spartak Yovchev and Boyan Lazarov are both friendly contacts and reliable consultants. I have an excellent working relationship with Plamena Krasteva, who always reacts quickly and assists within tight deadlines.’

Key clients

America for Bulgaria Foundation

Litexco Bulgaria

Bulgarian Burger

Property Club Bulgaria

Lufthansa Technik Sofia


SumUp Ltd. Bulgarian Branch


Rhythm Engineering – Bulgaria

Scale Focus

SumUp Services GmbH



Tamarind Properties

SumUp EU Payments

Property Club Project 1

Property Club Project 2

Property Club Project 3

Defacto Retail Limited

Sirketi Bulgaria Ltd.

Pure Energy Ventures Limited

Martindale Holdings Ltd.

Software AG

Pontica Solutions

WHG Services (Bulgaria) Limited

DSV Road

SumUp Real Estate GmbH


Expert Solutions


TDB Play


Ostent 1


Signature Properties Naum

Puzzle Brands JSC

Cherkovna Invest 2 LLC

INNG Estates OOD

Fresh and Frozen Storage

Work highlights

  • Advised long-term client Lufthansa Technik Sofia OOD on the closing of a complex real estate project.
  • Assisted Fresh and Frozen Storage with the execution of a complex transaction for the acquisition for EUR 1M of logistics facilities together with an adjacent land plot and power stations.
  • Assisted DSV Road EOOD with the successful closing of all stages of the significant real estate project related to the sale of the client’s land plots.

Deloitte Legal Law Firm

Deloitte Legal Law Firm frequently assists clients with the full scope of the preparation and structuring of real estate transactions, with a particular focus on commercial centres and office buildings in Bulgaria. Litigation expert Zvezdelina Filova is the practice head.

Practice head(s):

Zvezdelina Filova

Key clients

Hellenic Dairies SA

Work highlights

  • Advising on the real estate aspects of the acquisition of United Milk Company EAD, leading to the expansion of Hellenic Diaries SA in Bulgaria.

Dinova Rusev & Partners

Dinova Rusev & Partners' practice covers a litany of real estate matters, consisting of completing due diligence for energy infrastructure projects and the drafting and negotiating of various contracts and lease agreements, as well as representation in arbitration and court proceedings related to real estate assets. The team led by Georgi Vladov has particular expertise in advising on matters relating to shopping malls and hospitality services.

Practice head(s):

Georgi Vladov

Other key lawyers:

Anelia Dinova; Iliya Grozdanov


‘Dinova Rusev and Partners adopt an interdisciplinary approach and have the capacity to provide the full range of services related to the acquisition, financing and construction of real estate projects. They go the extra mile to help clients create and implement effective strategies to meet specific business needs.’

‘Georgi Vladov has exceptional expertise in real estate transactions. He also has the ability to swiftly bring in experts and incorporate expertise from other practices when it comes to specific requests outside of the team’s core legal competencies. He is very responsive and has excellent communication skills, with a focus on detail when necessary for the client to understand.’

‘A highly experienced team which delivers results in the most efficient way. Business oriented, with services that create value.’

‘Individuals at any level involved are result oriented. Confidence in the deliverables is one of the key competitive advantages.’

‘They are quick to respond, and I feel confident that the advice and answers are realistic and carefully assessed for quality and competence.’

Key clients

AP Retail I EOOD

United Energy


Al in Motion


Greenville Bulgaria

UL China

Victoria Bank, Moldova

Gorubso Kardjali AD

House Market Bulgaria

MG Consult EOOD

Amit Construction


Work highlights

  • Advising United Group on a complex EPC contract for a solar project in Bulgaria.
  • Advising Venafi on leasing its new office in Sofia.
  • Advising AP Retail I EOOD on all aspects of the operation of The Mall, including a number of internal reconstructions.

Gugushev & Partners Law Office

Gugushev & Partners Law Office handles a broad spectrum of real estate and construction matters, advising on the negotiating and drafting of contracts and due diligence reports for acquisitions, leasing agreements and surveys of plots of land. The practice is led by recently promoted partner Ivan Tsvetkov, who is well versed in finance matters.

Practice head(s):

Ivan Tsetkov

Other key lawyers:

Stefan Gugushev; Bogomil Dimov


‘The Gugushev & Partners team is always prepared, knowledgeable and easily reachable. Their leadership is impeccable, and any partners involved always have a plan to not only complete any task in an appropriate and timely manner but also to go above and beyond by offering novel solutions that end up improving the situation at hand.’

‘Stefan Gugushev always demonstrates a staggering amount of knowledge both on the legal side of the issue, as expected, but also on the business side.’

‘Bogomil Dimov showed great insight into the applicable legal issues and was always happy to explain what exactly was happening during the process.’

Key clients

Key Bio Industry Bulgaria Ltd

Ecorentimpex Ltd.

Infinity Solar 1 Ltd.

Facility Management Group Ltd.

El Bonus Ltd.

Black Peak Capital Ltd.

KG Engineering Ltd.

Arkel Ltd.

V Partners Ltd.

Malinov Dom Ltd.

Design Factory Ltd.

Totim Sofia Ltd.

Stefan 2022 Ltd.

Perihelion Ltd.

Murgova & Partners Attorneys at Law

Murgova & Partners Attorneys at Law is praised by clients for its ‘in-depth knowledge and innovative approach’ in the field of real estate and construction. The team is well versed in the full scope of real estate matters, including but not limited to assisting with the purchase and sale of properties and the preceding due diligence documentation, real estate financing, day-to-day operations and drafting leasing agreements. Petya Murgova leads the practice and has particular expertise in real estate transactions. Juliana Tsankova-Arsenova provides key support.

Practice head(s):

Petya Murgova

Other key lawyers:

Alexander Moskov; Simeon Krastev; Alexander Stoimenov; Juliana Tsankova-Arsenova


‘The team supported us with accurate legal advice and detailed research related to the requirements of the local legislation. We count on the team of Murgova & Partners for all our cases in this field as they have proven to have an in-depth knowledge and innovative approach, resulting in positive outcomes for us.’

‘Petya Murgova has significant experience in the field of real estate and construction. She has broad experience in real estate deals and transactions, and she provides us with appropriate legal advice concerning potential risks.’

‘We can trust Simeon Krastev and Alexander Stoimenov in our daily business activities because they are highly motivated professionals and well-prepared legal experts and devoted to the client’s requirements and interests.’

Key clients

Duev 90

Specialized Hospital for Rehabilitation


Fobos Auto

PIM Haskovo

DMT 2010

N – Style

Asha Invest

AGK Consulting and services

Chateau Louise et Louis


Nanev invest

Arh Engineering

Natif Proekt


Work highlights

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

Popov, Arnaudov & Partners

Popov, Arnaudov & Partners provides comprehensive legal services relating to large real estate transactions and acquisitions. This includes completing due diligence reports, advising throughout negotiations, compiling documentation and representation in any related litigation proceedings. A notable client for the firm is multinational company XXXLutz, which Sibina Eftenova's team supports with various real estate issues related to its expansion in Bulgaria. Hristo Koparanov co-heads the practice alongside Eftenova.

Practice head(s):

Sibina Eftenova; Hristo Koparanov


‘They are quick in urgent situations.’

‘They tend to treat our matters like their own and take into consideration our company’s brand identity.’

Key clients

MD Immobilien (part of XXXLutz)

Next Level Fitness Ltd.


NY Creative

Eurotur Grоup


Aiko (part of XXXLutz)


New Directions

MPA Handels

Work highlights

  • Conducted the full legal due diligence of land intended for the construction of a retail centre to operate under the Moemax brand in Pleven.
  • Providing full legal services to Next Level Fitness, including on real estate matters.
  • Providing advice on the project for the construction of a retail centre under the Aiko and Moemax brands in Plovdiv.

BWSP Ilieva Voutcheva & Co Law Firm

Real estate transactions, due diligence reviews of properties, administrative proceedings, and the drafting and reviewing of construction contracts form BWSP Ilieva Voutcheva & Co Law Firm‘s advisory offering in the real estate and construction space. The practice group is jointly led by Diliana Ilieva and Rossitsa Voutcheva.

Practice head(s):

Diliana Ilieva; Rossitsa Voutcheva


‘They have a holistic advisory approach, not only covering the legal aspects but also considering the business impact.’

‘Some strengths of Rossitsa Voutcheva and Diliana Ilieva are their personal approach to clients, clear communications and great stakeholder management.’

‘The law firm is comprised of competent, capable and very effective individuals. They are results orientated and focused and always complete the tasks and issues assigned. I feel like we can count on them always, on a daily basis and for more complicated transactions related to company’s investments and scaling plans.’

Key clients

Stroy Alliance Invest Ltd.

EcoSafe Ltd.

MS Asset Development Ltd.



Paramont Gardens

CPC Europe Ltd.

Castello Precast Ltd.

Realty Ltd.

SAAV Engineering Ltd.

Work highlights

  • Advised Stroy Alliance Invest Ltd on the development of its new residential building project in Sofia, valued at EUR 10,000,000.
  • Advised MS Asset Development Ltd on the development of a residential complex comprising seven houses valued at EUR 1,900,000.
  • Advised Paramont Gardens on a new residential complex valued at EUR 7,000,000.

Kinkin & Partners

Kinkin & Partners‘ real estate, urban planning and construction works team covers a broad spectrum of matters ranging from project financing and the assessing of investment intentions to assistance with urban planning procedures, public procurement and the negotiation of lease agreements, among others. Practice head Adriana Nacheva has extensive experience in urban planning procedures and related owners’ rights.

Practice head(s):

Adriana Nacheva

Other key lawyers:

Dilian Kolev


‘They have assisted us in plenty of cases and have teams working in a variety of fields. They follow the changes in construction regulations over the years and come up with strong evidence in cases.’

‘The individuals are experienced and completely devoted to their work. Dilian Kolev has excellent expertise in the field of real estate. Adriana Nacheva leads the team with great professionalism.’

‘Dilian Kolev was extremely professional and competent, and always available.’

‘The entire team was responsive, professional and very efficient and effective with the work they did. The most important thing for me is trust. They demonstrated the utmost standard of ethics the entire time and the work performed was meticulous.’

‘Dilian Kolev is an excellent attorney who is very knowledgeable and trustworthy. His communication was excellent, and his work was meticulous.’

‘They respond quickly and thoroughly to inquiries. Changes in the case are reported in a timely manner. News is accompanied with the necessary explanations from the point of view of Bulgarian legislation. High-quality final product.’

Key clients

Agria JsC

Held Bereenderungs GMBH & CO.KG

Interclima Engineering Ltd.

Quattro Properties Ltd.

Seagull-2014 Ltd.

Work highlights

  • Assisting Agria JsC with challenges relating to the ownership and legal status of 8 bungalows, including conducting due diligence, locating documents, and obtaining certificates to safeguard against removal orders.
  • Assisting the owner of a historic property in Sofia with tenant lease negotiations and ensuring compliance with heritage regulations.
  • Successfully resolved legal issues for a client regarding an inherited property in Sofia.

Penkova & Partners Law Firm

The real estate and construction team at Penkova & Partners Law Firm offers a comprehensive advisory service with regard to real estate and construction projects and transactions, with particular experience in the amendment, negotiation and termination of lease agreements, covering residential complexes, retail centres and hotels. Founding partner Victoria Penkova leads the team.

Practice head(s):

Victoria Penkova

Other key lawyers:

Diana Milkova; Yavor Tankov


‘Penkova & Partners Law Firm provide a wide range of specialised legal services with attention to quality, and we therefore trust and rely on the firm. The team is great at ensuring we are legally protected against all the risks involved in lease agreements.’

‘Victoria Penkova has an excellent reputation in the field of real estate and construction, and she is able to provide high-quality expertise in all aspects of the transactions. Diana Milkova is great at providing efficient solutions for real estate matters, identifying all potential risks, and is very responsive, experienced, and determined to provide excellent advice and the best approach.’

‘Penkova & Partners Law Firm stands out as a team of greatly experienced and vastly knowledgeable professionals. The law firm is our to-go choice due to their ability to see the big picture and to guide us through complex cases. This synergises perfectly with the team’s in-depth approach to every issue, their responsiveness, attention to detail, and clear and concise manner of communication, making the law firm not only a formidable legal advisor, but a trustworthy business partner as well.’

Key clients

Regent’s Property Advisors EAD

CAF Signalling S.L.

adidas Bulgaria EAD

Saint George Palace Ltd.

Varna Mall EAD

Inter Ceramic OOD

Work highlights

  • Advising Regent’s Property Advisors EAD in regard to the construction of a retail park and the conclusion, amendment and termination of lease agreements.
  • Advising CAF SIGNALLING, S.L. on the construction of signalling and telecommunications systems and the European Rail Traffic Management System in regard to the development of the Sofia railway junction.
  • Advising adidas Bulgaria EAD with regard to the conclusion, amendment and termination of lease agreements.

Tokushev And Partners Law Office

Tokushev And Partners Law Office counts real estate transactions and acquisitions as its core focus in this sector. The firm is also involved in construction-related tax planning, negotiation of concession agreements and mortgages. Viktor Tokushev and Stiliyan Nedev jointly lead the practice and have extensive experience in real estate transactions.

Practice head(s):

Viktor Tokushev; Stiliyan Nedev

Key clients

RAK 2019

UBB Interlease

Intercapital Property Development REIT

Aktiv Properties REIT



Work highlights

  • Advised RAK 2019 on the acquisition of EUR 18 M receivables from different entities backed with mortgages.
  • Advised BGI IMO on the acquisition of a hotel and residence building complex for EUR 2.9M.
  • Advised Aktiv Properties REIT with regard to real estate transactions of EUR 5M (relating to land plots and buildings) and corresponding collaterals thereto, secured with mortgages.