With transactional, regulatory and litigation expertise, Penkov, Markov & Partners is well placed to advise clients on renewable energy and residential projects. The group represents investors, energy groups, developers and foreign counsels. Practice co-head Milena Gaidarska has longstanding experience in real estate and construction projects, including the structuring of sales, financing and commercialisation of real estate assets. She leads the team along with the Atanas Valov, who focuses his practice on residential project development and commercial leasing. The 'proactive' Anelia Licheva is an additional contact to note.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
- 'The experience and the brand Penkov, Markov & Partners in the Bulgarian law market are indisputable. The team is very experienced and they know everything about the Bulgarian legal environment. The collaboration with PMP has turned out a successful long-term collaboration.'
- 'Over the years, I’ve worked with Penkov, Markov & Partners mainly on real estate and construction matters. What I value most is their ability to combine legal precision with a strong business mindset. They don’t just give you the law — they explain what it means for your deal, your risks, and your profit. They’re fast, reliable, and proactive when legislation changes. For me as an investor, that kind of foresight is invaluable. Their billing has always been transparent, and their use of digital tools made collaboration much easier, especially on bigger projects.'
- 'In the real estate and construction field, Milena Gaidarska has been invaluable. She combines deep legal knowledge with a practical sense for negotiations, managing to keep even difficult conversations calm and constructive. Her ability to balance detail with commercial pragmatism has saved me both time and cost on projects.'
- 'When disputes loom, I know I can rely on Atanas Vielov. He is concise, highly structured, and effective — exactly the kind of lawyer you want when the stakes are high in real estate or infrastructure conflicts.'
- 'Anelia Licheva has provided excellent support in contract drafting, property law, and litigation. She is proactive in spotting potential problems early and her due diligence work has given me confidence to move forward with significant deals.'
Key clients
- Arteks Engineering AD
- Eurowind Energy A/S
- BT Development Services
- Eurostar OOD
- AB Investment Group
- Global Biomet EOOD
- Build Invest Bulgaria AD
- Arteks Zlaten Vek OOD
- BA Glass Bulgaria EAD
- BSPF (Property 2) LIMITED
- Primo Plus EOOD
- ITS 2005 EAD
Work highlights
Advised Arteks Engineering AD on the €28m+ re-development of a major urban site in Sofia’s Mladost district into a large-scale mixed-use complex, involving phased handover, lease-back structuring, and title clearance tracing over 30 years.
Supported Eurowind Energy A/S on all Bulgarian aspects of a €155m renewable energy mega-project combining wind, solar, and battery storage - the first of its kind in the country.
Acted for Build Invest Bulgaria OOD in the structuring and legal planning of a €220m gated residential community across 200 acres near Lozen Mountain, including infrastructure coordination and zoning.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Practice head
Milena Gaidarska; Atanas Valov
Other key lawyers
Anelia Licheva