Firms To Watch: Real estate and construction

Buzalov & Chanova Law Office has experience in a range of large-scale construction and real estate investment projects, in addition to advising on the sale and acquisition of real estate.

Real estate and construction in Bulgaria

Andonov & Radinska Law Firm

The real estate and construction practice at Andonov & Radinska Law Firm stands out as among the most renowned in the space. The team regularly advises on significant, high-value projects, with capabilities spanning transaction preparation, acquisitions, developments, financing, management agreements and exits. The team’s unparalleled experience makes it an attractive prospect to its client base of blue-chip multinational corporations and real estate development companies, which frequently instruct practice co-leaders Hristo Andonov and Diliana Radinska on a series of mandates. In a recent highlight, the pair advised an international retail company on a large-scale expansion via the acquisition of land for the construction of supermarkets.

Practice head(s):

Hristo Andonov; Diliana Radinska

Key clients

Mall Plovdiv


Global City Holdings


Avestus Capital Partners

Delta Planet Mall


Paradise Center Sofia

Serdika Center Sofia

NEPI Rockcastle

John Cotton Group


Work highlights

  • Advised an 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 on the operation 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.

Adopting an interdisciplinary approach, Boyanov & Co. advises on the full scope of the acquisition, financing and construction of shopping malls, office buildings and large hotels, matters which are regarded as the premier mandates in the Bulgarian market. Under the stewardship of practice head Nickolay Nickolov, who is described as a ‘top lawyer for acquisition matters’, the team continues to provide full-scale advisory services to Golf Okol on the construction of a significant greenfield residential project. Svetlana Tsvetkova is a key name at associate level, excelling in real estate litigation and administrative proceedings.

Practice head(s):

Nickolay Nickolov

Other key lawyers:

Svetlana Tsvetkova


‘A very responsive, experienced and consistent firm which puts the client at the centre of things. The team at Boyanov is very active, advising developers and purchasers on the development and sale of property. It is highly regarded for its engineering and construction expertise and delivers a great level of service. The team’s fast response times and solid industry knowledge are invaluable assets. Nickolay Nickolov is the name to note.’

‘Nickolay Nickolov is a top lawyer for acquisition matters. He shows great reliability, negotiation skills and expertise.’

‘The team at Boyanov & Co. are client focused, solution driven and extremely professional in all aspects of their role. They have vast experience, knowledge and capabilities, which was evident in all the work that they did for us. They are resourceful, respectful and determined to provide excellent support. We experienced their expertise in real estate matters and were exceedingly pleased with all the results. We highly recommend them to any future clients.’

‘Nickolay Nickolov is an exceptional attorney whose vast knowledge, focus on detail, excellent follow-up and follow-through, patience and communication style make him perfect for our projects. His expertise, professionalism and tireless efforts to go the extra mile to get the job done are admirable. He always provides detailed answers to questions, is strategic in his approach and was diligent in processing all the necessary documents and materials.’

Key clients

Hyprop Investments Limited


The European Investment Bank

FHL Kiriakidis

Golf Okol


PSI Pharma support

Work highlights

  • Advised Hyprop Investment Limited on the acquisition of 100% of the shares of the owner of The Mall, the second largest shopping mall in Bulgaria.
  • Advised Odesos on the project for the construction and operation of part of the territory of the Odesos PBM port in Varna.
  • Advising Golf Okol on all legal aspects of the “Okol Lake Park” project, which will contain a range of residential, commercial and hospitality buildings.


As a part of a global network, the real estate and construction practice group at CMS has considerable strength in cross-border transactions in the SEE and CEE regions, maintaining its impressive track record in associated financing, tax, construction, regulatory and contentious matters. CMS frequently advises on real estate financing, as well as on transactions in the real estate sector. Leveraging the expertise of its multi-disciplinary team, the practice offers industry-specific knowledge on a range of mandates, particularly those arising out of the energy and retail sectors. The team is headed up by two practitioners: the ‘extremely knowledgeableJenia Dimitrova and Antonia Kehayova, who was promoted to counsel in May 2022.

Practice head(s):

Jenia Dimitrova; Antonia Kehayova

Other key lawyers:

Atanas Bangachev; Gentscho Pavlov; Dimitar Zwiatkow


‘The lawyers on the team are extremely diligent, flexible in their reactions, and attentive to details. They are transparent when it comes to risks and they are understanding of the client’s business and business needs.’

‘CMS have multiple teams of professionals of all levels and specialties who are able to deliver anything on time (whether in person or online; they are flexible) and follow all the principles of the ethical code of conduct. They work and have expertise internationally which is a benefit for any international business. The real estate team in Sofia is highly professional and very experienced with the local business and court practices in the area of real Estate and construction.’

‘The team are knowledgeable, they are focused and they give timely responses. They possess very good soft skills in managing discussions.’

Key clients

Cordeel Group


Pasabahce Bulgaria

Alpha Bank

EKO Bulgaria

ING Bank

Bede Software Bulgaria

Reserve Invest Holding

Trans Vision

International Finance Corporation

UniCredit Bulbank

Robul Construction

Norfolk Conservation



Libor Company

Work highlights

  • Advised Cordeel Group on the sale of a mixed-use logistics and office development to CTP.
  • Advised International Finance Corporation (IFC) in relation to the repayment of a corporate financing extended to the Bulgarian subsidiary of the German group Lidl, and the subsequent de-registration of 23 mortgages established in its favour by the borrower.
  • Advised INGBank on the long-term leasе for its new offices in Infinity North Tower Office Building, Sofia.

Dimitrov, Petrov & Co

Remarked upon for its ‘vast industry knowledge both in the real estate and construction sectors, Dimitrov, Petrov & Co provides advisory services throughout the entire life cycle of real estate projects from transactions to development and planning, investment, finance and tax matters. The team's full-scale capability has made it an increasingly attractive prospect for handling large-scale acquisition mandates, notably for investment funds J Investment and New Capital Management. Practice co-head Boyana Milcheva is routinely engaged to advise on significant real estate and infrastructure projects, specialising in construction, real estate, projects and PPP, tax and corporate law. She works in tandem with practice co-head Alexander Todorov, who focuses on large-scale real estate acquisitions and contentious matters arising out of the space. Senior associate Pavlina Ivanova offers important support on key cases.

Practice head(s):

Boyana Milcheva; Alexander Todorov

Other key lawyers:

Pavlina Ivanova; Nikolay Kolev


‘The team is eminent for its legal capabilities. The team has huge industry knowledge. The lawyers know each and every step of the construction process and nothing can surprise them. Having such legal and industry capabilities is a huge advantage and that is what makes the lawyers from DPC trusted advisers.’

‘The team have shown great professionalism in dealing with every need that my company has had. Their timely and accurate support has been a great help over the years and their friendly attitude has made them very easy to work with.’

‘The partner who stands out to us is Boyana Milcheva – she is very positive and friendly from the start and communication with her is very easy. She has expertise in real estate and is very insightful about what the case is and what the best approach would be. It was a delight to work with her and we recommend her to anyone looking for a real estate and construction lawyer.’

‘The team has this unique spirit which is very rare to find in other law firms. Besides being top professionals, they collaborate very well with each other. There is no stress in our communication and quite often the deadlines are really tight.’

‘I work mainly with Boyana Milcheva and Pavlina Ivanova and they both are great lawyers! Boyana pays attention to every detail and always takes the time to listen to me and offer the right solution.’

‘What makes the practice unique is its vast industry knowledge both in the real estate and construction sectors. This is extremely valuable and an add-on for the team.’

Key clients

European Wind Farms Bulgaria

Sliven Eparchy

J Investment

Lucid Link

VM Petroleum



Pepkor Europe


Work highlights

  • Advising European Wind Farms Bulgaria, part of European Energy, on the development of a solar power plant in Bulgaria.
  • Advising Sliven Eparchy on various legal matters related to restored ownership of land plots.
  • Advising J Investment on the development of a residential complex.

Djingov, Gouginski, Kyutchukov & Velichkov

Founding partner Stephan Kyutchukov heads up the large real estate and construction practice group at Djingov, Gouginski, Kyutchukov & Velichkov. He has a strong track record in high-value real estate projects, and is noted for his experience advising both lenders and borrowers in financial transactions that touch all aspects of the industry. The team stands out for its ability to handle a broad range of mandates, with a caseload that spans both transactional and contentious matters, ranging from acquisitions, greenfield real estate investment, financing and zoning issues, and real estate litigation. The ‘industry-specific knowledge’ of Kaloyan Krumov makes him a key contact in the department, which was reinforced by his promotion to partner in 2022. Maya Mircheva is a key name from the team's associate ranks.

Practice head(s):

Stephan Kyutchukov

Other key lawyers:

Kaloyan Krumov; Nikolina Stefanova; Maya Mircheva; Tsvetelina Bayraktarova


‘Kaloyan Krumov and Tsvetelina Bayraktarova have industry-specific knowledge and are able to meet tight deadlines.’

Key clients


Unicredit Bulbank

European Parliament, Luxembourg

Chardash Trading

Acidbadem City Clinic

Elhadi Holdings

NEPI Investment Management


AP Capital


Work highlights

  • Advised UniCredit Bulbank on the due diligence for real estate and zoning matters.
  • Advised NEPI Investment Management on zoning and construction regulations related to the assessment of possibilities for the planning and development of a large commercial centre.
  • Advising the European Parliament on the convocation of a condominium general meeting as well as assisting with drafting related rules for the building where the European Parliament’s Bulgarian headquarters are located.

Kambourov & Partners

The vastly experienced real estate and construction practice group at Kambourov & Partners has been praised as ‘highly qualified and competent’ as it continues to excel in the full life cycle of construction and development matters. The team has demonstrable expertise in commercial, residential, industrial and infrastructure projects. In terms of workload, the group has seen an increase in commercial project developments, including the construction and expansion of retail centres and office buildings, in addition to its advice on industrial infrastructure. Atanas Shopov leads the team, lending his experience to large-scale commercial, infrastructure and industrial projects on behalf of notable clients.

Practice head(s):

Atanas Shopov


‘Atanas Shopov has exceptional expertise in real estate and construction matters. He always has a problem-solving attitude and he is extremely dedicated to achieving results that are in the client’s interests, due to his excellent knowledge of the industry.’

‘The team have deep expertise in the area of real estate and construction. They are easily reachable and highly qualified.’

‘Each member of the team is highly qualified and competent.’

‘The real estate and construction practice of Kambourov & Partners stands out among other firms for its extensive experience, high level of qualification, strong commercial focus and notable commitment. We have been working with them for a decade and they have proven to be a trustworthy partner you can always rely on for timely and specialised assistance. Their knowledge of our industry is unsurpassed and their strategic, commercially oriented approach is invaluable. The work is technically impeccable and the personal treatment is excellent.’

Key clients

Consortium HSS-Monolit Sofia



Ares Engineering


Orbico Bulgaria


Atland Investments


Bulgarian Telecommunications Company


Witte Automotive Bulgaria


United Group

Alorica Bulgaria

HS Timber


Sofia Municipality

Citygas Bulgaria

Kapsch Trafficcom


Maxima Bulgaria

Kaufland Bulgaria

Work highlights

  • Advising the consortium HSS-Monolit on the design and construction of a new section of the third line of the Sofia metro.
  • Assisting Yotpo with the lease of its Bulgarian offices.


The real estate and construction practice group at Kinstellar stands out for its ‘ability to provide full-service advice on all kinds of real estate transactions’. The team frequently advises major real estate investment groups in the CEE region, engaging on a variety of mandates ranging from the structuring of commercial real estate investments and portfolio acquisitions to negotiating long-term lease agreements and representing clients in arbitration proceedings relevant to the sector. In terms of key personnel, the ‘excellent and very professionalAntonia Mavrova heads the team. Atanas Mihaylov and Mladen Minev are other names to note in the group.

Practice head(s):

Antonia Mavrova

Other key lawyers:

Atanas Mihaylov; Mladen Minev


‘The practice is very strong in its ability to provide full-service advice on all kinds of real estate transactions, leases, construction issues and contentious matters. The practice is regularly involved in major transactions; that is why Kinstellar has become one of the premier firms in Bulgaria for real estate.’

‘The team’s key strengths are practicality and creativity. They provide clear advice with sound solutions regardless of the complexity of the matter. The service and responsiveness of the lawyers meet the high standards one would expect. The straight-to-the-point communication style of this team makes collaboration easy and enjoyable.’

‘Kinstellar’s real estate team is one of the leaders in the industry. From partners to associates, they have an incredible team and you can rely on anyone. The team instils great confidence in the client and is truly full service. They possess all the relevant knowledge and keep the client’s needs in mind, thus giving proactive and top-quality advice.’

‘Antonia Mavrova is a trusted partner for international investors in the Bulgarian market. Her ability to consider commercial matters in complex legal situations is unrivalled. Her focus is always on practicality and client service. She knows where her clients need to be and takes deliberate action to get them there.’

‘An excellent team! Very professional and hardworking lawyers. Their determination and motivation is something extraordinary.’

‘They stood out for the quality of their advice and ability to provide specific answers in complex transactions.’

‘We received a very attentive and comprehensive service from Antonia Marova and Atanas Mihaylov.’

Key clients


Park Lane Developments

Gazit Globe


Yellow Tree

Maple Media

International Hotel Licensing Company


Remix Global



GTT Communications

Aqua Treatment

Work highlights

  • Advising CTP on strategic real estate acquisitions as part of its expansion in Bulgaria, including the acquisition of the Willi Elbe production facility near Plovdiv.
  • Advising Gazit Globe on the disposal of its Bulgarian entities together with significant real estate assets to Trinity Capital.
  • Advising Park Lane Developments on the sale of a class A office building to SAP.

Penkov, Markov & Partners

Well known in the real estate and construction sphere, the team of ‘very skilled’ practitioners at Penkov, Markov & Partners is well equipped to handle the full range of mandates on behalf of a client roster that includes real estate investment groups, large hotel chains and multinational corporations. The core of the practice focuses on the due diligence and structuring of real estate projects, particularly for the construction of commercial premises, and associated litigation. Hotel management and leasing is another demonstrable key strength. Milena Gaidarska leads the team and is notable as ‘her vast knowledge of real estate and zoning law makes her a valuable asset in negotiations and the development of new projects’.

Practice head(s):

Milena Gaidarska

Other key lawyers:

Atanas Valov


‘By far one of the most solid real estate teams on the market, whose advice can be invaluable in complicated and multi-stage projects, especially with problematic plots which are a challenge to develop.’

‘Milena Gaidarska is the main contact person in their team for all our projects and her vast knowledge of real estate and zoning law makes her a valuable asset in negotiations and the development of new projects, while she also participates in the preparation of our written defence in construction disputes. She is a big name in the real estate sector and is known for her business-minded and pragmatic approach.’

‘Atanas Valov has huge experience in real estate matters. He combines solid legal knowledge and a pragmatic approach and is a reliable professional with whom we expect to be working more and more closely in the future.’

‘The team are all great and very skilled.’

‘We are very impressed by Milena Gaidarska, who is one of the most prominent real estate lawyers in the country – diligent, resourceful, always available, very precise in her drafting and able to view a problem from many different angles. She is definitely our first choice for a lawyer whenever we need a legal advice or representation in this sphere.’

Key clients

Arteks Engineering

Arteks Zlaten Vek


Global Biomet

GD Capital Management


Viraj Group

Infinity Capital AD

Camp South Beach

Nedvizhimi Imoti Sofia

Gurmazovo House

Mach Mor

Doverie Pension Insurance Company

Phoenix Capital

Luxury Real Estate

Phoenix Imobilien


Work highlights

  • Advised Arteks Engineering and its affiliates on a number of high-end residential development projects throughout Sofia, including the Zlaten Vek skyscraper.
  • Advised Enikom Sofia-Sever on real estate transactions structured as share deals, including the sale of 100% of the equity shares of Maple Real Estate.
  • Advising Global Biomet in connection with the possible conclusion of a contract for the acquisition of 100% of the shares in Aratiden.

Andrey Delchev and Partners - Eurolex Bulgaria

Andrey Delchev and Partners - Eurolex Bulgaria notably provides advisory services on key large-scale transport infrastructure projects in Bulgaria. The expertise of the team also extends to all related real estate matters, including zoning, land use and compulsory purchase. It acts on behalf of a wide range of clients, including property investment company Nova City Group and subway infrastructure development company Trace Group Hold. Managing partner Stoyan Barzakov heads up the team, specialising in concessions, privatisation and project finance.

Practice head(s):

Stoyan Barzakov

Key clients

Nova City Group

Council of Ministers

Ministry of Energy of the Republic of Bulgaria

Ministry of Transport and Communications

Sofia Municipality


Trace Group Hold

Work highlights

  • Assisted Ashram with the sale of Central Sofia Market Hall, by negotiating the deal and advising the client on real estate and contract issues, the restrictions resulting from the protected status of the market as an immovable cultural asset of national importance, and the mortgages and pledges incumbent upon it.
  • Providing full legal services to Nova City Group, including participation in negotiations, legal due diligence, consultancy regarding real estate investment deals, and representation in construction law cases.
  • Represented a large foreign real estate developer in a case against a construction company concerning the legal status of a plot that served as a mortgage in favour of the client.

Georgiev, Todorov & Co

Contract drafting, due diligence and representation before institutions in administrative proceedings form the bulk of the practice at Georgiev, Todorov & Co, which is praised for its ‘outstanding reputation and very high success rate’. Standout clients from the firm’s roster of major domestic real estate players include AG Capital, G.P. Group and Contract City, and the team also provides ongoing advisory services to the European Parliament and European Commission. ‘Specialist in the fieldMiglena Peneva heads the practice.

Practice head(s):

Miglena Peneva

Other key lawyers:

Arno Mamasyan


‘The legal services provided by the team are highly professional. Their advice was essential for taking next steps in our real estate transactions and was very business oriented. The work on investigating the legal risks connected to the transactions was done on time and in detail.’

‘Georgiev, Todorov & Co. has over two decades of experience in the field of real estate and construction, which lets the team combine industry-specific knowledge and experience, but also means it has an outstanding reputation and very high success rate. We fully trust them to represent us in court due to their analytical and negotiation skills, as well as advise us on complex issues and draft due diligence reports due to their knowledge of all regulations and the specifics of the sector, their client-oriented approach and their critical thinking.’

‘Miglena Peneva is our key lawyer in the law firm. She is a specialist in the field, is always well informed of the legal changes, offers reliable advice and has great knowledge of our business.’

‘The lawyers have analytical thinking, great attention to detail and experience which allows them to consult on high profile deals and court proceedings.’

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

‘Arno Mamasyan is an experienced, capable and reliable lawyer. His expertise in corporate and commercial law, litigation and administrative procedures adds value to our company’s business and helps with finding the right legal approach to protect our interests.’

Key clients

AG Capital

Alfred C. Toepfer International Netherlands


Aurubis Bulgaria

Bigla 3


Bulgarian Branch Chamber “Roads”

Business Park Sofia

Contract City

EIS Construction Company

Este Properties

European Parliament

Fleet Services

Galchev Engineering

G.P. Group

Hemus Motorways


LIEL Construction

Ministry of Agriculture, Food and Forestry

National Association of Property Developers

Obanato Build


Shalev Investment Group

Sliven Municipality

Tobo Group

Vatia Holding

Yambol Municipality

Work highlights

  • Successfully represented Obonato Build in an appeal against the decision to open the public procurement procedure for the maintenance of roads in the southwest region.
  • Advises EIS Construction Company, a leading construction company, in relation to its current projects, conducting an analysis of properties and assistance with the Spatial Planning Act.
  • Acting for National Association of Property Developers in an appeal against the ordinance on the construction, maintenance and protection of the green system adopted by the Sofia Municipal Council.

Jordanov, Ignatov, Ivanov Law Firm

Jordanov, Ignatov, Ivanov Law Firm leverages its ‘excellent reputation’ in the real estate and construction space to advise on real estate transactions, leasing arrangements, plot acquisitions, and the planning and development of projects. Under the stewardship of name partners Rumen Ignatov and Ivan Jordanov, the team are frequently engaged on large real estate developments, most recently advising Bulgarian Property Developments on the full suite of issues pertaining to a commercial and residential project. Nikolay Ignatov is a key name at associate level.

Practice head(s):

Ivan Jordanov; Rumen Ignatov

Other key lawyers:

Nikolay Ignatov


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

‘JII has an excellent reputation in the real estate market in Bulgaria and are a first-choice law firm for many of our business partners. This is the reason we engaged the firm for our own real estate projects. We are very pleased with its services. The team consists of professionals with solid knowledge and many years of experience in the sector. The advice we have received is always business oriented, efficient and prompt.’

‘Ivan Jordanov and Rumen Ignatov are extremely proficient in all legal aspects of the real estate market. Both have many years of experience in this field and are able to achieve the best possible outcome in any complex situation. We are very glad we have them as our advisers.’

Key clients

Bulgarian Property Developments

Varna Logistics

Arco Vara

Fairplay International

BPD Ring Road

Lindner Bulgaria

Core Construction

Mundus Services

BPD Industrial Real Estates Fund

Industrial Zone Pleven


Pleven Retail Centre

Castello Precast

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.
  • Advising Varna Logistics on the potential sale of its logistics facility of warehouses.
  • Advising Lindner Bulgaria on all aspects of the development of Residential Park Lozen.

Popov, Arnaudov & Partners

At Popov, Arnaudov & Partners, Sibina Eftenova, a specialist in property disputes, jointly leads the versatile real estate and construction team alongside commercial and banking expert Galin Popov. The Royal Embassy of Cambodia and the Bulgarian subsidiary of XXXLutz are among the team's varied clients, which the group advises on a range of matters, including development, acquisitions, regulatory compliance and completion documentation, to name but a few. The firm's novel structure includes a small real estate agency which is incorporated into the department.

Practice head(s):

Sibina Eftenova; Galin Popov


Schoenherr has extensive experience in the full range of multi-jurisdictional real estate, infrastructure and industrial projects. The team offers sector-specific knowledge to strategic investors on their market entry, alongside advising on hotel restructurings and the development of green projects. Dimitar Vlaevsky co-heads the team in conjunction with Elena Todorova. Alexandra Doytchinova and associate Kristina Lyubenova are also names to note.

Practice head(s):

Dimitar Vlaevsky; Elena Todorova

Other key lawyers:

Alexandra Doytchinova; Kristina Lyubenova

Key clients

Queisser Pharma


Avenue One Holdings

Bulgarian Telecommunications Company

Revetas Capital

Enery Development

MET Group

SAP LABS Bulgaria



Mall Varna

OMV Bulgaria

Smurfit Kappa

Alfa Group

Concordia Bulgaria

Husqvarna Group

Work highlights

  • Advised Queisser Pharma Bulgaria on the acquisition of its new office space in Sofia.
  • Advising Husqvarna Group on the sale of a factory.
  • Advised RGreen Invest on a bond to finance the construction of a photovoltaic plant in southwestern Bulgaria.

Wolf Theiss

Wolf Theiss has a strong track record in all aspects of real estate, zoning, permitting and planning issues, leveraging both its inter-disciplinary approach and its international network to represent a range of corporate clients, including real estate companies and international clothing companies such as H&M Hennes & Mauritz AB. The structuring  of complex multi-phase projects and real estate investments are among the team’s key proficiencies; it recently assisted SAP Labs Bulgaria with the acquisition of a class A office building. Anna Rizova leads the group with Radosveta Kojuharova, who joined the team from Kambourov & Partners in January 2022. Katerina Kraeva and associate Maria Nikolova are also key contacts.

Practice head(s):

Anna Rizova; Radosveta Kojuharova

Other key lawyers:

Katerina Kraeva; Maria Nikolova


‘We deeply value Radosveta Kojuharova’s approach, high degree of professional competence and calmness in every challenging situation we have dealt with.’

Key clients

SAP Labs

Intuitive Surgical

Real Estates Development

AG Capital

Park Lane Developments

Lions Head



ON International

Amarat Properties

Project One

H&M Hennes



Leto Investment



Work highlights

  • Assisted SAP Labs Bulgaria, a local subsidiary of the global software leader SAP, on the acquisition of a class A office building in the centre of Sofia from Park Lane Srebarna.
  • Assisted Intuitive Surgical, a company that develops and manufactures medical products around the world, with its plans for the construction, development and operation of a manufacturing site for surgical endoscopes in Bulgaria.
  • Advised the investors on the development of River Park Sofia, a new residential project.


Real estate and construction is a core practice at CasePro, with the ‘dedicated team of legal professionals’ particularly excelling in commercial property matters. The group’s client base includes developers, operators and lenders, which it advises on all aspects of development and financing in the sector. Spartak Yovchev leads the team, focusing on advising major corporate clients and investors.

Practice head(s):

Spartak Yovchev

Other key lawyers:

Margarita Tomova; Plamena Krasteva; Silvia Stoyanova; Boyan Lazarov


‘All members of the team are amazing! I can always rely on and highly value their timely, punctual and business-focused legal advice.’

‘I’ve worked with CasePro law firm for several years on a number of complex legal issues. Our results have been outstanding. 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.’

‘Extremely competent, highly ethical and very knowledgeable, especially in real estate and construction law.’

‘Friendly and supportive, with excellent legal knowledge.’

‘They are constantly eager to find the best possible solution to the case and they do not stop until they reach perfection. As for the overall level of the services, I would recommend them as highly accurate and always timely, and I hope we will continue to strengthen the partnership between our companies.’

‘CasePro stands out in the field of real estate primarily because of its knowledge of global legal practice, which is proficiently applied and adapted to local standards.’

‘On day-to-day matters I often work with Plamena Krasteva, who is a super responsible and competent legal professional. I have also had the opportunity to work closely with Spartak Yovchev and Silvia Stoyanova, who are both extremely knowledgeable and well prepared in various legal cases.’

‘Spartak  Yovchev and Plamena Krasteva are super effective, creative and efficient when providing ongoing support to our organisation on its real estate expansion in Bulgaria. They can handle any large, complex real estate due diligence and transaction. Spartak is a strong leader and Plamena is a very skilful young lawyer. Silvia Stoyanova and Boyan Lazarov are both extremely organised and prepared.’

Key clients

America for Bulgaria Foundation

Litexco Bulgaria

Bulgarian Burger

Property Club Bulgaria

Lufthansa Technik Sofia



Rhythm Engineering

Scale Focus



Tamarind Properties

SumUp EU Payments

Property Club Project 1

Property Club Project 2

Property Club Project 3

Defacto Retail

Sirketi Bulgaria

Tamarind Properties

Pure Energy Ventures

Martindale Holdings


Pontica Solutions

WHG Services (Bulgaria)

DSV Road

SumUp Real Estate


Expert Solutions


TDB Play


Ostent 1


Signature Properties Naum

Work highlights

  • Advised the America for Bulgaria Foundation in relation to all permits, resolutions and stages of the planned reconstruction and renovation of its real estate.
  • Advised Bulgarian Burger with regard to all stages of the purchase of real estate to be used by the company for the construction of a new restaurant.
  • Advised Rosbuild on all stages of the acquisition of a land plot for the construction of a residential building.

Deloitte Legal Law Firm

Burgeoning expertise in the structuring and execution of real estate transactions underlines the work of the practice group at Deloitte Legal Law Firm, which focuses on real estate matters involving commercial centres and office buildings, acting on behalf of a range of corporate clients in collaboration with its offices in other regions. Senior manager Zvezdelina Filova co-heads the team with managing associate Kaloyan Yordanov.

Practice head(s):

Zvezdelina Filova; Kaloyan Yordanov


‘Kaloyan Yordanov is a good lawyer with sector-specific knowledge.’

Dinova Rusev & Partners

Dinova Rusev & Partners demonstrates specific expertise in shopping mall management and hospitality services, often acting on significant mandates arising out of these sectors. Real estate-secured debt restructurings and full-scale advisory services on behalf of real estate investment funds are also among the team's core capabilities. Georgi Vladov heads the practice, and receives support from Anelia Dinova and Iliya Grozdanov.

Practice head(s):

Georgi Vladov

Other key lawyers:

Anelia Dinova; Iliya Grozdanov

Key clients

Coca-Cola European Partners Services

AP Retail


South Ring Mall

Baltic International Bank

Amit Construction

I Cover

China Zhongyuan Engineering

Terna Energy


Sun Foods

Imerys Minerals

Gorubso Kardjali

House Market Bulgaria

MG Consult

Trade Estates Bulgaria

Danaos Development

Work highlights

  • Assisted Everty with four real estate acquisition transactions.
  • Advised Coca-Cola European Partners on the negotiation and signing of the lease agreement for its new headquarters in Bulgaria.
  • Advising AP Retail on all aspects of the operation of The Mall, one of the biggest Bulgarian shopping malls.

Gugushev & Partners Law Office

Gugushev & Partners Law Office offers a broad range of services across the real estate and construction sector and has recently seen several client gains, including major European hardware store chain Praktiker. ‘Business savvy’ managing partner Stefan Gugushev heads the practice group, handling the full spectrum of legal issues in the real estate sector.

Practice head(s):

Stefan Gugushev

Other key lawyers:

Ivelina Atanasova


‘They were always ready to answer my questions, both during the negotiation of the different agreements they drafted for my company and any time afterwards when day-to-day legal issues came up.’

‘Stefan Gugushev and Ivelina Atanasova were both very knowledgeable and could answer any question I had for them. Stefan was also very business savvy and gave me suggestions on what approach would be best for my business.’

Key clients

Strabag Real Estate


Hareon Solar Technologies

Madara Print

Unique Estates

STP Property

Aquarosa Invest

Nord Holding


City 52

Dobro 28

V Partners

European Energy



Helios Family Properties

Amarant Solar

Work highlights

  • Advised Praktiker in connection with its investments in the real estate sector in Bulgaria.

Murgova & Partners Attorneys at Law

The team at Murgova & Partners Attorneys at Law regularly advises clients on all aspects of real estate law, chiefly acquisition, construction, financing, operation and leasing issues and regulatory compliance, across the full life cycle of projects. Petya Murgova jointly leads the practice in conjunction with Alexander Moskov. The team was strengthened by the addition of senior associate Angel Panorov, who joined the firm from Penkov, Markov & Partners in August 2022.

Practice head(s):

Petya Murgova; Alexander Moskov

Other key lawyers:

Angel Panorov


‘The team has vast experience and we can always rely on their professional opinion.’

‘Petya Murgova has significant experience in the area of real estate and construction and all respective administrative procedures. Thanks to her negotiation skills and approach, she has always offered us the best solutions in the most complex real estate cases. She is able to identify all of the potential risks for our company and offer efficient strategies in negotiations with third parties and clients.’

‘We would definitely highlight Petya Murgova. She is a highly professional lawyer who is focused on the details and provide us with timely and accurate legal advice, including identifying all potential risks and creating a strategic approach.’

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


Nanev Invest

Arh Engineering

Natif Proekt

Work highlights

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

BWSP Ilieva Voutcheva & Co Law Firm

The team at BWSP Ilieva Voutcheva & Co Law Firm is capable of handling the full range of real estate and construction-related work. The team is frequently instructed on both the buyer and seller side of real estate transactions, whilst also demonstrating a growing acumen for administrative proceedings on spatial development plans. Rossitsa Voutcheva and Diliana Ilieva jointly lead the team.

Practice head(s):

Rossitsa Voutcheva; Diliana Ilieva

Key clients

Metropolitan Holdings

Daramis Papaya ML Project

Property 777




CPC Europe

Kingsforth Invest

Danailova, Todorov & Partners

Kaloyan Todorov and Maria Danailova steer the real estate and construction practice group at Danailova, Todorov & Partners, advising on various transactions relating to public infrastructure, transport infrastructure, retail and office buildings, and renewable energy plants. In a recent highlight, the team advised Mulan Realty on a challenging mandate regarding the acquisition of real estate.

Practice head(s):

Kaloyan Todorov; Maria Danailova

Other key lawyers:

Denitsa Georgieva


‘They have a direct and personal approach to their clients. They create very close relationships with their clients and maintain excellent correspondence throughout the process.’

‘Maria Danailova and Kaloyan Todorov make a great team; they complement each other very well. Kaloyan is active and nimble, Maria is detail-oriented and knowledgable. Also, I would like to recommend Denitsa Georgieva for her dedication and professionalism.’

‘Maria Danailova is the most experienced legal expert in the team. Maria’s experience shows when dealing with complicated matters – she knows what is important in a deal and what could be set aside.’

Key clients

Mulan Realty

Work highlights

  • Advised Mulan Realty on the process of the acquisition of real estate with many ownership and encumbrances issues.
  • Advised several clients on the construction and operation of photovoltaic plants, and the sale of the energy produced.
  • Advised a client on several significant transport infrastructure projects.

Kinkin & Partners

The real estate, urban planning and construction team at Kinkin & Partners provides advice at every stage of the implementation of investments, alongside the process of financing projects and all aspects of public procurement and tenders. Practice head Adriana Nacheva has more than 20 years' experience in the space.

Practice head(s):

Adriana Nacheva


‘The individuals we work with are experienced and have been working with us as a team for many years. They work together extremely well – the lawyers in the team communicate easily with each other and quickly understand our needs.’

‘The attorneys at the firm are able to handle extensive and difficult due diligence and conduct complex procedures. They definitely work well together and achieve effective results.’

‘The members of the team are helpful, prompt in providing services, and respond to all our requests and problems. We have worked with Adriana Nacheva many times and each time we are satisfied with the way she conducts the work.’

Key clients



Held Bereederungs

Interclima Engeneering

Nadezhda Vassileva

Philip Genov

Stephen Allum

Todor Stoyanov

Work highlights

  • Advised Agria on the donation of property to the municipality of Plovdiv as part of its plan to sell individual plots of land for investment purposes.
  • Advised Held Bereederung on the purchase of property in Bulgaria.
  • Advising Interclima Engeneering in connection with a dispute with the owner of a neighbouring property over the boundaries of the real estate.

Penkova & Partners Law Firm

Penkova & Partners Law Firm's experience in the real estate and construction space covers all aspects of real estate transactions, including acquisition structuring and obtaining relevant approvals, and lease agreements, particularly for shopping centres and retail parks. Victoria Penkova acts as team leader; she is an experienced practitioner who also acts as an adjudicator for the Bulgarian Association of Consulting Engineers and Architects.

Practice head(s):

Victoria Penkova

Other key lawyers:

Diana Milkova


‘We have been working with Dyulgerova & Penkova Law Firm for more than 15 years. During this period, they have proved their advisory skills and the high standard of their legal services, therefore we can trust and rely on the law firm. The team is great at ensuring we are legally secured against all the risks involved in lease agreements.’

‘Victoria Penkova and Diana Milkova are highly professional and competent. They are excellent lawyers who advise us on day-to-day matters, including the drafting and negotiation of 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 on all aspects of a transaction. Diana Milkova is very proactive and client-oriented and always tries to find the best solution for our company in real estate matters.’

‘The team of Dyulgerova and Penkova Law Firm is particularly diligent and invested in finding out the client’s actual needs and business goals.’

‘The team are very client and business orientated and very efficient. Their personal and direct approach of working with the us results in a more transparent and trusting professional relationship, always leading to 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 commercial deals.’

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

‘Victoria Penkova has all-round expertise when it comes to delivering the most appropriate and efficient solutions to any matters related to real estate. She has the ability to identify the major risks of a particular deal and secure the clients’ interests throughout every aspect of the deal, such as tax, construction costs and penalties. Her specific knowledge of infrastructure projects brings a lot of value to the conclusion of more complex real estate deals.’

Key clients

Regent’s Property Advisors

CAF Signalling

Adidas Bulgaria

Saint George Palace

Balkan Properties Bulgaria


Work highlights

  • Advising Regent’s Property Advisors with regard to the construction of a retail park and the conclusion, amendment and termination of lease agreements.
  • Advising CAF Signalling as part of a consortium for the design and construction of signalling and telecoms systems for the European Rail Traffic Management System.
  • Advising Adidas Bulgaria with regard to the conclusion, amendment and termination of lease agreements.

Tokushev And Partners Law Office

Real estate is a core focus for Tokushev And Partners Law Office as the team becomes increasingly active in handling large-scale projects, including shopping malls, production plants, hotels and office buildings. Managing partner and department head Viktor Tokushev possesses a wealth of experience in complex real estate transactions.

Practice head(s):

Viktor Tokushev

Key clients

M2 Prom


Orgachim Resins

Bulgarian Development Bank

RAK 2019

UBB Interlease

Intercapital Property Development

Active Properties


Work highlights

  • Advised UBB Interlease, the owner of an electronics superstore in Varna, on an in-kind contribution of land and the superstore building to incorporate a new company.
  • Advises RAK 2019 on its acquisition of a major meat-processing facility located in Silistra.
  • Advised Viplast on the expansion of the company’s existing production facility.

Eversheds Sutherland

Advice on long-term leases, residential real estate projects, greenfield investment projects and contract drafting are just a few of the services provided by the real estate and construction practice at Eversheds Sutherland. Victoria Tzonkova acts as team leader, while Philip Kiossev provides support on key matters.

Practice head(s):

Victoria Tzonkova

Other key lawyers:

Philip Kiossev