Real Estate, Construction & Projects
The real estate and construction sector has been a key driver of economic development in the region, and real estate matters are underpinning a large amount of transactional activity – whether directly as real estate projects or indirectly as collaterals to asset-based lending and other capital market activities.
The firm advises clients on all legal aspects in relation to real estate transactions and advises clients in relation to property law aspects of their corporate and commercial affairs. We advise investors, developers, funders & lenders, sponsors, issuers and others on a range of their real estate activities. Our duty is to ensure risk mitigation for the clients and delivery of their commercial goals. Our services include advising on straightforward sale and purchase transactions, real estate development and investments, leases and hybrid-occupancy structures, planning & urbanism, construction law, complex real estate transaction structuring, real estate taxation, asset-based lending, and further. Further, our real estate and property law work frequently overlaps with other mandates – such as insolvency, corporate reorganization & restructuring, and mergers & acquisitions, where real estate and property law matters can be a major part of the overall legal advice.
In the construction law field, our team advises lenders, contractors, suppliers, consultants, monitoring advisors, developers and others on all legal aspects concerning the relevant construction project.
We advise on internationally used standard contracts and their application in domestic and regional real estate development (including FIDIC (EPC, EPCF, design-build) JCT, etc.). Most often however, the local and regional practice has dictated bespoke construction agreements for various construction and infrastructure projects, whether construction works only or EPC.
Our sectoral experience in real estate and construction includes:
- Residential development
- Hospitality & Leisure industry
- Infrastructure & Transportation
- Energy, including renewable energy plants (solar & wind)
In cross-border and international matters, we have experience working with market-leading partner firms, and are able to provide a one-stop comprehensive advice. The team advises on financing structures – project finance, mortgage financing, securitization in relation to real estate assets (and asset pools) – whether existing, or in development.
Our team has experience advising on various transactional and corporate matters related to the real estate and construction sector, including advising on high-value single asset and portfolio transactions in the sectors.
Projects – Energy, Renewables & Infrastructure
The firm advises on a diverse range of energy and infrastructure projects. We can assist clients with the full project cycle – initial advice on formation and structuring; joint venture and shareholder matters; corporate transactional matters; financing and credit agreements in relation to the project; construction law, property, urbanism and planning matters; regulatory, procurement, tax and compliance; offtake, PPA and other purchase agreements; to the final completion and handover of the relevant project.
We have experience advising clients on regional investment and projects in road infrastructures, solar, wind and coal power project development.
In the recent decade, the governments of the region have implemented a number of measures to try to change the regime and promote the development of strategic infrastructure. Despite efforts, there has been a general lack of permitted projects that are ready-to-build, which has inflated market expectations about the pricing and valuations.
Investors and funders come to us to help them navigate the market and regulatory framework in search of viable projects, and sellers and developers seek a strong guiding hand that can help them bring their projects to the stage where these are bankable or attractive to large international investor groups or government entities looking to invest in new projects.
Our regional network of relationships allows us to provide our client access to opportunities and navigate them to the pockets of the market where there may be opportunistic or strategic plays, in the energy and infrastructure segments.
In government-facing transactions, we advise our clients on the full range of matters concerning procurements, tenders, PPPs and concession-type arrangements. Our regulatory experience allows us to assist with the thorny regulatory landscape in the region, the constantly changing legal environment sometimes making multiple layers of legal regimes apply to a single project. We help sellers and developers manoeuvre their way to the most efficient route to permitting, and investors, sponsors and lenders, to properly judge risk in analysing their target projects.
In contentious matters, our experience in dispute resolution enables us to advise on settlements, arbitral (including investment arbitration) and litigation options for our clients in what are often politically-relevant and strategic projects. We have frequently acted against states and government authorities in contentious project and PPP matters.
Representative matter Real Estate, Construction & Projects:
- Advising a buyer on the acquisition and development of a large real estate development project in the hotel sector in the city of Belgrade
- Advising the seller on the sale of a multimillion REO portfolio
- Advising an investment fund on the sale of single ticket RE assets
- Advising an investment fund on a sale of claims portfolio collateralized with various RE assets
- Advising a major international construction and development conglomerate on the sales process for the potential acquisition of a large (100k +) RE development project
- Advising a major international construction company on the procurement process for the construction of a large-scale commercial block
- Advising various stakeholders on the potential acquisition of a portfolio of logistics assets (500k+ sq. m)
- Advising a major regional construction company on funding aspects of a major road construction project
- Advising a major regional construction company on funding aspects concerning a major road and airport construction project
- Acting for the seller in the negotiations for the sale of a major marina & hospitality RE development project with a leading regional RE investment group
- Advising the investment fund on the sale of a large residential construction plot in a historically protected zone
- Advising a major international construction company in the preliminary feasibility research concerning a major coal energy project involving underwater extraction
- Advising on the process for sale of a portfolio of wind and solar ready-to-build assets comprising of 120 MW wind and 140 MW solar
- Advising the buyer on the bilateral discussions for the sale of a 50MW wind renewable development project
- Advising on the development aspects and prospective sale of a 50 MW wind renewable plant (ready-to-build)
- Advising on the development aspects and prospective sale of a 40 MW wind renewable plant (brownfield)
- Advising on the development aspects and prospective sale of a 3MW biomass plant (operational)
- Advising on the prospective sale and development of a large coastline solar plant project
- Advising the owner of the telecommunication backbone on the lease / monetization arrangements