
The real estate and construction group at Penkova & Partners Law Firm stands out for its expertise in a wide array of projects, including residential complexes, shopping and retail centres, hotels and infrastructure projects. The team also has a proven track record in real estate acquisitions, due diligence, lease agreements and financing. Victoria Penkova leads the practice, with extensive experience in construction law, particularly FIDIC forms of contract.
Legal 500 Editorial commentary
Accolades
Client satisfaction: Lawyer & team quality
Client satisfaction: Billing & efficiency
Client satisfaction: Sector knowledge
Testimonials
Collated independently by Legal 500 research team.
- 'Penkova & Partners are a strategic partner with deep sector expertise and a proactive and future-focused approach to client service that consistently exceeds expectations. The team demonstrates outstanding proficiency, expertly navigating through the construction law landscape. Their communication is excellent, as we are always kept ahead of developments with clear, actionable advice. That said, what truly sets them apart is their client-first mindset and the rare ability to anticipate issues before they become problems.'
- 'Penkova & Partners combine technical expertise with an innovative, client-oriented approach. They excel at handling large-scale real estate transactions, confidently navigating through complex regulatory frameworks. The team renders comprehensive legal services throughout the entire project lifecycle — from real estate due diligence through acquisition structuring to zoning development, construction, and commissioning, ensuring seamless execution at every stage.'
- 'The lawyers at Penkova & Partners are recognised for their commitment, business acumen, and ability to guide us through the intricacies of real estate and construction law, by providing clear and concise legal advice. I have had the opportunity to work extensively with Victoria Penkova, who is my first point of reference for complex real estate matters. Her forward-looking perspective and tailored solutions consistently mitigate risk and add measurable value. Complementing her expertise is Yavor Tankov, whose rigorous attention to detail and knowledge of construction law strengthen the firm’s capabilities. Together they form a team that consistently exceeds client expectations.'
- 'Diana Milkova is vastly experienced in real estate and approaches every problem with utmost diligence and attention to detail. She excels at identifying all the risks in the transaction and provides great legal advice and solutions for any situation.'
- 'The strength of Penkova & Partners lies in their remarkable team. We’ve had been working with Victoria Penkova on various high-stakes transactions, within the course of which her insight, strategic approach, and attention to risk have been instrumental. Yavor Tankov complements the team with his thorough knowledge of construction law and a keen eye for detail. Their collaborative style and problem-solving mindset consistently result in effective, client-focused solutions.'
- 'Victoria Penkova is a powerhouse. Her insight, strategic approach, and attention to risk have been truly instrumental in high-stakes transactions, not just mitigating risk but actively creating value for our business. Yavor Tankov complements this with his knowledge of construction law and an eye for detail. His work ensures that the structural legal integrity of every project is unassailable. Their collaborative style is seamless, consistently delivering effective, client-focused solutions. They not only solve problems; they future-proof our projects. We consider Penkova & Partners an indispensable asset to our business and thus strongly recommend them.'
Key clients
- BLACK SEA CENTER BSC EAD (Varna Mall EAD)
- Regents Property Advisors EAD
- Inter Ceramic OOD
- adidas
- Renomia EOOD
- Saint George Palace Ltd.
- BELENSKI INVEST OOD
- TEDi Turgovia na drebno EOOD
- INT ARH Ltd.
Work highlights
Advised BELESKI INVEST AD on the conclusion of design, supervision and project management contracts, as well on drafting of construction agreements for a new multi-purpose building with a total built-up area of more than 18000 sq.m.
Advised INTER CERAMIC OOD on its acquisition of multiple real estate transactions.
Advised Regent’s Property Advisors on the management of Retail Park Pernik Plaza and the first-of-its-kind retail park in Northern Bulgaria – Retail Park Prista.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.

Practice head
Victoria Penkova
Other key lawyers
Diana Milkova; Yavor Tankov
