Real Estate: Ukraine

Home to Lina Nemchenko and Serhiy Piontkovsky, Ukraine's leading property lawyers, Baker & McKenzie retains its undisputed position at the top of the market. “The service is quick, and the lawyers provide concrete, strategic advice,” clients say. The Kyiv-based team of 11 covers a long list of disciplines within real estate and construction. It has a strong infrastructural leaning, handling airport developments, seaports, energy projects and agricultural land matters. The lawyers offer “deep experience and a practical approach, which saves time and money for the client,” enthused a source. The group has recently assisted METRO with the acquisition of land for the construction of shopping centres and a hypermarket. It comes into its own when serving international companies throughout the firm’s integrated CEE and global network.

Across the CEE, the CMS network is a dominant force in the real estate market. Its Kyiv office is no exception, with clients benefiting from high standards and international expertise. Although a relative newcomer to the market, the firm is already an established player, with a team of nine property specialists acting for major investors, developers and financiers. It has ample construction expertise ready to be deployed when the market gains strength. Meanwhile, it has advised a large logistics company on multi-jurisdictional restructuring matters. The team also offers strength on the litigation side; it recently represented a real estate fund in a dispute with a property vendor. Group leader Daniel Bilak is the first point of contact.

This global firm has a well-established base in Kyiv with a real estate team that provides sound advice to international and local clients. Commentators are particularly impressed with its ability to explain the complexities of the Ukrainian legal system to foreign clients. The team of seven mostly handles industrial and commercial property transactions, financing and lease agreements. It has recently flourished in the field of agricultural real estate. Highlight deals include providing assistance to a prominent international fashion retailer establishing its business branches in Kyiv. Partner Natalia Kochergina is a “persuasive negotiator, solution-driven and a pleasure to work with,” say sources. 

Salans has long held a position in the upper echelons of Kyiv’s real estate market, thanks to its team of “experienced and respected attorneys.” The partners maintain high visibility in transactions, and the team plays a key role in the firm’s regional CEE network, with clients highlighting the group's impressive co-ordination of international deals. It has been busy acting for several international hotel chains on acquisitions and developments in Ukraine: it assisted ACCOR GROUP to establish its Etap brand in the country. The lawyers also acted for Bouygues Travaux Publics and VINCI Construction on a construction project for the safe containment of the Chernobyl site. Finally, the economic slowdown has prompted the firm to assist major banks with real estate restructuring matters. Partner and real estate head Myron Bohdan Rabij wins universal acclaim for his technical skill. 

This strong group enjoys a lofty reputation in the domestic market with recent hires further strengthening the team. The recent economic slump has seen the firm employ its skills in landmark real estate restructuring cases, advising Renaissance Capital on the restructuring of developer XXI Century's USD175 million debt. The firm offers a broad repertoire of real estate disciplines, exemplified by recent advice on the construction of a large housing project and a stadium. On the leasing side, it advised UBS on its offices in Ukraine. Partner Sergey Ignatovsky is the main contact for the team.

This accomplished team provides an integrated service with its corporate and tax teams. The group's work in agricultural transactions comes strongly recommended, as does its construction advice. It represented the Scorpio Real Estate Group on a USD150 million residential skyscraper venture in Kyiv. Another significant mandate is representing Mott MacDonald on its role in the USD2.4 billion Kyiv outer ring road project. Senior associate Alexander Borodkin is set to make a great impact on the market, say sources. “He is very clever and really knows the specifics of the Ukrainian market,” according to clients. 

A multilingual operation, this firm attracts a cluster of German-speaking clients. An example is Porsche Ukraine, which it advised on its acquisition of land, logistics sites and office premises in and around Kyiv. Clients note the firm’s practicality and attentiveness, as well as its specialist knowledge on a range of real estate matters. Its litigation capacity is considered useful for contentious construction cases. The team of seven recently acted for the retail multinational NETTO on acquiring a local retail chain and land plots in Ukraine. Polyglot lawyer Timur Bondaryev “provides cutting-edge solutions in real estate and construction,” say sources.

This real estate team can draw on Asters' prestigious banking and corporate departments, to offer a high-quality service which befits its reputation, say clients. The group has a strong presence in real estate finance, most commonly acting for major lenders, although recently it also provided restructuring advice to the Russia Partners investment fund regarding its Ukrainian holdings. The group is praised for its “local insight" and offers value for money, clients say. It has advised on large acquisitions for banking headquarters and major agricultural plots and provided full-service advice to Eurasia Investment & Industrial Group on a range of real estate matters. Bright lawyer Roman Kostenko brings a solid reputation to the team. 

This compact team guarantees direct partner involvement. “The quality of service remained constantly high, and together we achieve results,” clients say. The group covers a wide spectrum of real estate matters, with further support from its litigation and tax specialists. It comes highly recommended for land and agricultural projects. Recent mandates include work for the CIS fund Icon Private Equity. Taras Dumych’s “commitment, professionalism and deep knowledge of the law” earn him growing recognition. 

This German firm’s Kyiv outpost is a top choice for Austrian and German companies investing in the Ukrainian market. Interviewees are impressed with the quality of the lawyers’ advice and their tenacious negotiation skills. The bulk of the property work is carried out for investors. Areas of expertise include due diligence, investment structuring, construction, greenfield and brownfield developments and transactional tax advice. Julian Ries, who leads the team, is particularly recommended for his meticulous approach.

This mid-sized team maintains the high standards that befit a US firm, say sources. Its strength in corporate and banking matters shines through in the property work, which includes numerous real estate equity transactions and construction finance deals. The team is also well regarded for its work on infrastructure projects. Recent highlights include acting for a syndicate of banks to secure a multimillion-dollar financing for the development of a large shopping centre in Odessa. Clients of the Kyiv team are Marfin Egnatia Bank and Evrotek. Sergiy Onishchenko heads the team.

Although real estate partner Volodymyr Baibarza left the team, this outfit maintains a good reputation and presence in the market. The real estate group plays a vital role within the firm’s full-service offering. It has long experience on cross-border mandates to match its dominance on the domestic transactions, and it offers support in real estate litigation. It covers residential, retail, commercial and industrial property, and is a reliable source for environmental regulatory advice. A recent headline mandate was acting for VINCI Construction and Bouygues Travaux Publics in a USD100 million project to safely contain the Chernobyl site. Managing partner Andrew Mac is the key contact.