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Europe Guide

Real Estate — Bulgaria


Boyanov & Co. - Real Estate

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Band 1

第一等

Commentary from the Chambers Europe guide

Basic facts about the department
- Heads of department: Nickolay Nickolov and Boyko Voynov
- 3 partners
- 6 other qualified lawyers

What the team is known for Excellent full-service Bulgarian firm advising international clients entering the market. The team covers a diverse range of issues including long-term lease agreements, construction and acquisitions of land plots and buildings. Boasts additional expertise in related litigation and arbitration.

Strengths One client states: "Their reputation instils respect in counterparties," adding that the team is "efficient and knowledgeable."

Work highlights Advised Eurobank Bulgaria on the acquisition of the Bulgarian branch of Alpha Bank, which involved due diligence for almost one hundred properties.

Acted for Baumax Bulgaria on the acquisition of Landmark Bulgaria Retail Park.

Significant clients Bulgaria Air Maintenance, Behr-Hella Thermocontrol, Eurobank Bulgaria, Mondelēz International, Westinghouse Electric Company.

Notable practitioners

Sources deem Nickolay Nickolov to be "the best real estate lawyer in Sofia." He is noted for his 20 years of experience in the real estate sphere. He led the team advising IMO Rila EAD on a dispute with the Municipality of Sofia, which claims by law it owns one of the client's properties, a hotel in the city centre.

Department profile by Boyanov & Co.

Department profile not yet provided by Boyanov & Co.. Please see their firm profile.

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Djingov, Gouginski, Kyutchukov & Velichkov - Real Estate

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Band 1

第一等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Stephan Kyutchukov
- 4 partners
- 7 other qualified lawyers

What the team is known for Exceptional practice covering the gamut of real estate matters. Boasts particular expertise in transactions, including acquisitions of land plots for industrial and residential development projects. Further capabilities include drafting and negotiating lease agreements and advising clients on potential disputes. Diverse client roster features a range of businesses, including energy companies, shopping centre developers and healthcare providers.

Strengths One client states: "They demonstrated a real knowledge and acumen particularly for real estate matters," further praising the team's negotiation skills.

Another interviewee deems them "very good to work with," elaborating: "They are very responsive, sensible and commercial."

Work highlights Advised hypermarket chain Kaufland Bulgaria on the acquisition of new assets in Bulgaria.

Advised Acıbadem Şirketler Grubu on the acquisition of Tokuda Hospital and related healthcare companies as well as also on the two-step acquisition of City Hospitals & Clinics Group, a niche private healthcare provider. The matter value is estimated at EUR125 million.

Significant clients Cargill, Oman Investment Fund (OIF), Karsch Venture Capital, TELUS International.

Notable practitioners

Department head Stephan Kyutchukov is reputed for his expertise and knowledge in the real estate space. A client enthuses that he is able to "define the best solutions for our needs as a customer." He advised Soufflet Group on the acquisition of real estate assets in Bulgaria.

According to sources, Nikolina Stefanova "has real experience in real estate." Active in financing and M&A, she advised Global Trade Centres on its real estate investments in Bulgaria, including acquisitions, construction and project finance relating to three of its properties.

Department profile by Djingov, Gouginski, Kyutchukov & Velichkov

DGKV enjoys stellar reputation on the real estate market in Bulgaria and is renowned for its expertise in handling large-scale, complicated investment and real estate projects. The firm's Real Estate and Construction practice group offers comprehensive advice on all legal aspects of real estate construction, acquisition and development, including:

  • development, acquisitions and disposals of commercial properties;
  • investments in real estate and property development;
  • lease of retail or office space;
  • acquisition and development finance;
  • rezoning;
  • environmental liabilities;
  • search of legal title;
  • rectification of title process and documentation;
  • escrow arrangements;
  • assistance in obtaining various construction permits and licenses;
  • construction and commercial lease contracts;
  • construction supervision and monitoring;
  •  public procurement.

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Djingov, Gouginski, Kyutchukov & Velichkov has been an undisputed leader on the real estate transactions market for more than 23 years due to the complex interdisciplinary legal solutions it provides to major, both Bulgarian and international, clients on a broad range of real estate and construction matters in Bulgaria.


Kambourov & Partners - Real Estate

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Band 1

第一等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Atanas Shopov
- 2 partners
- 3 other qualified lawyers

What the team is known for Highly regarded team reputed for acting on high value developments. Frequently assists clients with the development of residential buildings and commercial premises, including shopping centres. Advises on financing, design, construction and long-term leases. Expertise also encompasses the construction of gas pipelines and industrial plants.

Strengths One client enthuses: "The lawyers are very focused, comprehensive and punctual."

Another market observer says: "I think the firm is stellar. I have an excellent impression." The same source adds: "Overall, they produce very high-quality, technically perfect work, have a high level of business awareness and innovative thinking, and present things in a way that is easy for us to understand."

Work highlights Acted for Monolit on the development and construction of a new Decathlon store in Plovdiv.

Advised Sterling Retail on the EUR4 million development and construction of a shopping centre and sports ground on the Black Sea coast.

Significant clients Brentwood Associates, Forton/AG Capital, SALP, Kamenitza, Maxima Bulgaria.

Notable practitioners

Market sources single out head of department Atanas Shopov as an "absolute top" and a "very knowledgeable, but also flexible and innovative" lawyer. He has extensive experience in the real estate market and led the team advising SALP on the EUR12 million design and construction of the Dobrich-Silistra gas pipeline, of which the client is the main contractor. One satisfied interviewee highlights Shopov's approach, saying: "Mr Shopov is a very well-versed, rational, intelligent and efficient lawyer."

Radosveta Kojuharova led the team advising Sterling Retail on the EUR4 million development and construction of a new shopping centre and sports ground on the Black Sea coast. One client remarks: "When I talked to her I knew everything was going to be okay." She has particular expertise in real estate transactions and residential and commercial developments.

Department profile by Kambourov & Partners

KP is well-known for a client portfolio that requires multidisciplinary real estate advice. The team has the depth and diversity of experience to assists clients through the development and realization of large-scale projects, transaction structuring, facilitating negotiations, FIDIC drafting, real estate & construction arbitration and litigation and especially FIDIC arbitration proceedings.  

The team covers the entire property 'life-cycle' including legal due diligence, acquisitions and dispositions, land use, planning and development, construction, financing and joint venturing, investments, taxation, landlord and tenant matters, leasing, securitization, establishment of mortgages, environmental law, insurance, etc.

In line with real estate market fluctuations, the practice has been involved in the development of key industrial and infrastructure projects, as well as residential and recreational ones.
Due to the firm’s increasing amount of work in insolvency and restructuring proceedings, the real estate department has also specialized in the related legal due diligence, title research, restitution claims and securitization work.



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Penkov, Markov & Partners - Real Estate

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Band 1

第一等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Milena Gaidarska
- 1 partner
- 5 other qualified lawyers

What the team is known for Widely reputed domestic practice acting on acquisitions and financings for residential projects. Increasingly active in work for shopping centres, advising retailers on lease agreements and general development. Additionally represents clients in court-related disputes, with a particular strength in court restitutions and privatisation issues.

Strengths Clients praise the team's pragmatism and ability to work to deadlines, stating: "Their services have always been timely and business-oriented. They do not aim to create problems where none exist, but strive to provide the most reasonable and working solution."

Work highlights Assisted Neo Properties with the purchase of a number of apartments, garages and a fitness building in the Luxury Residential Complex in Sofia.

Advised Mall Pleven 2013 on the commercialisation and launching of the Panorama Mall in Pleven, in Bulgaria.

Significant clients Credit Suisse, Coca-Cola HBC, Innovative Wind Concepts, STRABAG, Zagorka.

Notable practitioners

Interviewees say that head of department Milena Gaidarska "is undoubtedly a very talented, hardworking and reliable lawyer, with vast knowledge in real estate and construction matters and considerable experience." Others note that she has "great expertise" and is a "very valuable part of the team." She represented Alpha Bank and Chardash Trading in a lawsuit filed by the Bulgarian Science Academy before the Sofia Administrative Court regarding a claim of ownership over land on which the new Alpha Bank Headquarters are constructed.

Department profile by Penkov, Markov & Partners

Department profile not yet provided by Penkov, Markov & Partners. Please see their firm profile.

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Andrey Delchev and Partners - Eurolex Bulgaria - Real Estate

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Band 2

第二等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Stoyan Barzakov
- 3 partners
- 8 other qualified lawyers

What the team is known for Well-resourced team renowned for its advice on construction matters. Active in the development of residential projects and large scale transactions in the region, often involving commercial properties. Assists with land acquisitions, financing and contractor agreements. Offers further capabilities in real estate disputes.

Strengths A pleased market source says: "Their performance is absolutely excellent."

One client praises the team's responsiveness, saying: "They answer immediately to our needs, there is no delay."

Work highlights Advised Planex on the construction and development of Galeria Bourgas Mall and Galeria Varna Mall, valued together at EUR116 million.

Assisted Consortium Tech Park with the construction of one of the buildings of Sofia Science Technological Park.

Significant clients European Investment Bank, World Bank, DK Energy, Trace Sofia, Consortium Metro Drujba.

Notable practitioners

A source states that head of department Stoyan Barzakov "is excellent, available, well connected, and has great English language skills." He recently advised Consortium Tech Park on the construction of one of the buildings of the Sofia Science Technological Park in a matter valued at EUR2 million.

Department profile by Andrey Delchev and Partners - Eurolex Bulgaria

Department profile not yet provided by Andrey Delchev and Partners - Eurolex Bulgaria. Please see their firm profile.

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CMS - Real Estate

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Band 2

第二等

Commentary from the Chambers Europe guide

Basic facts about the department
- Heads of department: Darina Baltadjieva (CMS RHH) and Jenia Dimitrova (CMS CMcK)
- 3 partners
- 6 other qualified lawyers

What the team is known for Recognised team advising on the acquisition and financing of property portfolios, shopping malls and hotels. Acts on the real estate aspects of energy deals and drafting and revising lease agreements. Also visible on infrastructure construction projects. Client list comprises international and local companies seeking to invest in Bulgaria.

Strengths Clients appreciate the firm's "quick reaction time."

Work highlights Advised Revetas on the EUR52 million acquisition of a distressed office real estate project in Bulgaria.

Acted for Austrian construction company Swietelsky on issues related to the construction of railroad segments in Bulgaria. The matter was valued at EUR60 million.

Significant clients Russian Foreign Property Enterprise, Backaldrin, Swietelsky, Heta Asset Resolution Bulgaria, AIG.

Notable practitioners

Darina Baltadjieva and Jenia Dimitrova are the key contacts for the department.

Department profile by CMS

Real Estate and Construction - focus areas:

Preparing and negotiating purchase, lease, commercial leasehold or related agreements in domestic or international contexts;
Advising clients when conducting proceedings before public authorities;
Preparation and negotiation of domestic and international construction agreements;
Ongoing representation of clients in connection with execution of larger-scale construction projects, particularly with a view to achieving a consensus resolution of conflicts when disputes arise;
Real Estate and Construction - focus of our activities in the field of property law:

Structuring the legal and tax aspects of property transactions;
Preparation and negotiation of purchase, lease, commercial leasehold or related agreements on a domestic and international scale
Performing of due diligences and subsequent preparation of due diligence reports
Advising clients in conducting proceedings before public authorities
Clients: property investors, hotel operators and owners, architects, construction firms operating domestically and internationally, property developers and banks
Construction:

Represent before national and international courts, arbitral tribunals or public authorities
Prepare and negotiate domestic and international construction agreements
Ongoing representation of clients in connection with execution of larger-scale construction projects, particularly with a view to achieving a consensus resolution of conflicts when disputes arise

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CMS Sofia has particular experience in advising international clients on real estate transactions,  title researches and analyses, establishing limited rights in rem and real estate collaterals. Further, our international practice focuses on rental agreements and construction matters, as well as on taxation issues related to real estates.


Dinova, Rusev & Partners - Real Estate

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Band 2

第二等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Georgi Vladov
- 3 partners
- 1 other qualified lawyer

What the team is known for Full-service practice frequently acting on property management and development matters. Focuses on factory plant production, warehouse developments and shopping centre management, with increasing activity in residential projects. Acts for companies from the automotive and retail sectors.

Strengths A client observes: "I think they are a very reputable and experienced law firm."

Work highlights Advised Marinopoulos on the EUR33 million development of a shopping centre in Sofia.

Acted for Kaloyan Ikonomov on the restructuring of debt and project issues concerning Galeria Varna.

Significant clients Assos Capital/AP Retail I, Svartehavet, South Ring Mall Sofia, Baltic International Bank, Terna Energy.

Notable practitioners

Head of department Georgi Vladov focuses on projects related to the construction of shopping centres and management of related real estate matters. Clients benefit from his additional expertise in banking and finance.

Department profile by Dinova, Rusev & Partners

Department profile not yet provided by Dinova, Rusev & Partners. Please see their firm profile.

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Dimitrov, Petrov & Co. - Real Estate

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Band 3

第三等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Alexander Todorov
- 3 partners
- 4 other qualified lawyers

What the team is known for Sizeable Bulgarian firm with offices in Sofia and Varna. Assists with the acquisition and disposal of properties, including residential and commercial buildings. Activity includes the drafting and negotiation of contracts as well as court representation in related disputes. Recent work includes advising on infrastructure construction matters.

Strengths One client enthuses: "I have an excellent impression of the firm and the team as a whole and would certainly recommend them for any real estate and commercial work."

Another satisfied market source states: "I am very pleased with the company’s professionalism and the way things are handled."

Work highlights Advised the Bulgarian branch of Cooperativa Muratori & Cementisti di Ravenna on the construction of the Maritsa Highway that connects Bulgaria and Turkey. The value of this is estimated at over EUR65 million.

Assisted Astaldi with the implementation of the EUR68 million Parvomai–Svilengrad railway project in compliance with the FIDIC Yellow Book conditions and the preparation of tender offers for new infrastructure projects.

Significant clients Black Sea Property, Semeco, ILPA Development, Neohealth.

Notable practitioners

Alexander Todorov is the main point of contact for the department.

Department profile by Dimitrov, Petrov & Co.

Department profile not yet provided by Dimitrov, Petrov & Co.. Please see their firm profile.

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Dyulgerova & Penkova Law Firm - Real Estate

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Band 3

第三等

Commentary from the Chambers Europe guide

Basic facts about the department
- Heads of department: Victoria Penkova and Lyubimka Dyulgerova

What the team is known for Advises on both construction and real estate matters. Acts for domestic and international contractors on infrastructure projects in Bulgaria, negotiating terms of land acquisitions as well as urban planning. Another key strength is the representation of international companies that require the implementation of FIDIC rules for construction projects.

Work highlights Advised FCC Construccion on two contracts with the Ministry of Transport, Information Technology and Communications for the design and building of a bridge and supportive works, both under FIDIC rules.

Assisted Rex Consulting UK with in-kind contributions to the capital of a newly incorporated company and was responsible for all related matters including due diligence, negotiations, agreements and mortgages.

Notable practitioners

Lyubimka Dyulgerova acts on commercial and litigious matters in the real estate sphere. She advised Garanti Koza on a wide range of matters including a mortgage agreement and real estate acquisition.

Victoria Penkova advised Regent’s Property Advisors on real estate due diligence and intermediary agreements with clients. She is frequently active in commercial matters as well as litigation.

Department profile by Dyulgerova & Penkova Law Firm

Department profile not yet provided by Dyulgerova & Penkova Law Firm. Please see their firm profile.

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Kinstellar - Real Estate

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Band 3

第三等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Antonia Mavrova
- 1 partner
- 4 other qualified lawyers

What the team is known for Recently established firm that is expanding its presence in Sofia. Offering includes general real estate advice, including lease agreements and the representation of clients in disputes. International clients seeking assistance with real investments benefit from the team's extensive international expertise.

Strengths Clients are pleased by the team's sector knowledge, saying: "I was really impressed by their market intelligence and business understanding regarding the drivers of the real estate business and now I know that Kinstellar will be my first choice if any real estate transaction takes place in Bulgaria."

Interviewees also appreciate the firm's "valuable advice and approach, immediate response to our needs, correctness and composed attitude when faced with unforeseen obstacles."

Work highlights Advised Bulgarian Real Estate Fund (BREF) on negotiations for a construction agreement under FIDIC rules for the development of a new sustainable LEED-certified office building.

Assisted City Construction and a group of foreign investors with the structuring of an investment agreement for the acquisition of a landmark hotel in Sofia.

Significant clients Cerberus, Globe Trade Center (GTC), Globomass, Concentrix Services Bulgaria, Technomarket Bulgaria.

Notable practitioners

Antonia Mavrova climbs to the top tier following excellent feedback, with sources saying that "she is one of the best real estate lawyers in the country." Her range of expertise includes M&A, investment structuring, zoning and planning. She assisted Technomarket Bulgaria with a dispute strategy relating to the termination of its lease agreement with the owner of a shopping centre in a Bulgarian ski resort. Sources praise her approach, with one source stating: "The cool confidence and deep expertise with which she handles issues is very reassuring. She really cares about her clients and wants to develop a strong and trustworthy relationship."

Department profile by Kinstellar

Department profile not yet provided by Kinstellar. Please see their firm profile.

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Tocheva & Mandazhieva - Real Estate

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Band 3

第三等

Commentary from the Chambers Europe guide

Basic facts about the department
- Heads of department: Tanya Tocheva and Encho Dinev
- 2 partners
- 3 other qualified lawyers

What the team is known for Respected local team acting for both Bulgarian and international clients on a range of real estate matters. Assists with construction contracts, lease agreements and transactions. Also active in major energy-related construction projects.

Strengths A satisfied client comments: "They've been good and very communicative," noting: "They keep us informed, we don't have to chase them."

Work highlights Acted on behalf of Samsung C&T Corporation on the purchase and construction of 43 MW photovoltaic power plants.

Advised Tishman International Companies on the EUR58 million development of the Sofia Airport Center.

Significant clients Ital-Teks, Logic Park STAD, Mr. Stoyan Raichev, Citybuild Group, BHP International.

Notable practitioners

"Experienced" department co-head Tanya Tocheva has particular expertise of leasing contracts and FIDIC and EPC acquisitions. She advised Ital-Teks on signing new lease agreements and the execution of amendments to the existing lease agreements with shopping centres in Bulgaria.

Department profile by Tocheva & Mandazhieva

Department profile not yet provided by Tocheva & Mandazhieva. Please see their firm profile.

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Wolf Theiss - Real Estate

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Band 3

第三等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Anna Rizova
- 2 partners
- 3 other qualified lawyers

What the team is known for Advises international clients on the Bulgarian aspects of transactions and investments. Frequently mandated on long-term contract drafting and negotiation as well as financing and construction matters, where it assists with Bulgarian regulations.

Strengths Clients say: "They have an excellent team of professionals and a deep understanding of the local legal environment concerning commercial real estate."

Another market source comments: "I appreciate the hands-on mentality and the will to get things done. It is not about billing hours but to satisfy the client."

Work highlights Advised Arco Capital Corporation on the real estate aspects of the structuring and implementation of the financing of Business Park Sofia carried out jointly by UniCredit Bank Austria and UniCredit Bulbank.

Acted for Forteyn Investment on the disposal of a property located on the Black Sea coast of Bulgaria.

Significant clients Anixter International, Wacom Europe, Peek & Cloppenburg.

Notable practitioners

Clients say that Vesela Dimitrova is "a hard-working, very talented lawyer with remarkable communication skills, which is very important when it comes to verbalising and explaining complex legal issues." She assists with lease agreements and structuring investments. She was part of the team who advised Critical Mix Bulgaria, the local subsidiary of an international developer of online surveys, on its investment in leased premises in an office building in Sofia.

Department profile by Wolf Theiss

Local knowledge is vital when it comes to Real Estate.

Our Reputation

We have a long-standing track-record of successfully structuring complex multi-phase projects and real estate investments. For years we have been laying solid foundations for real estate investments by covering areas of key importance such as environmental, waste and energy efficiency compliance and planning. By helping our clients to anticipate, avoid or solve problems before they become conflicts, we are continuously maintaining our established leading position.

Our Cases

We participated in the majority of the landmark deals in the sector, starting from the setting-up of office and shopping centers in the country and the subsequent development of large scale infrastructure projects and industrial properties. We have significant experience orchestrating complex multi-phase projects including drafting the requisite documentation, facilitating negotiations, navigating the legal and regulatory mazes and, when necessary, coordinating litigation cases on behalf of our clients.

Our Role

More than just facilitating individual real estate and construction transactions, our Real Estate team strives to help clients create and implement effective strategies for addressing development related business needs. Uniquely for a law firm acting on the Bulgarian market, we have the capacity to cover the tax aspects of entries into and exits from real estate investments



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Wolf Theiss is one of only a handful of international firms that also has a fully integrated Bulgarian office which itself is a leader on the Bulgarian market.

Our Reach

With offices in 13 countries in Central, Eastern and Southeastern Europe and 3 regional desks covering Kosovo, Macedonia (led from Bulgaria) and Montenegro, Wolf Theiss is ideally positioned to handle local as well as regional real estate and construction mandates.

Our Advantage

We truly operate as a single firm. This enables us to always assign the best team of lawyers in accordance with the specific needs of a client. Each of our offices works on transactions that rank among the most significant in their markets so our clients can rely on unified high quality work. Our lawyers have years of experience of working together on cross-border transactions. Our clients have one point of contact.

Our Work

In Bulgaria, we advise Bulgarian clients on their cross-border acquisitions and international clients on their pan-CEE real estate matters. Our recent cross-border work from Bulgaria includes advising EBP as pan-CEE counsel on the management of real estate assets in Bulgaria, Romania and Serbia, as pan CEE-counsel for QBE on the disposal of real estate assets in Hungary, Slovenia and Ukraine, as well as mandates for the largest office park in Southeastern Europe (Business Park Sofia), Wacom Europe GmbH, Salvamed and Peek & Cloppenburg.




Gugushev & Partners - Real Estate

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Band 4

第四等

Commentary from the Chambers Europe guide

Basic facts about the department
- Heads of department: Petko Angelov and Elena Nenova
- 2 partners
- 7 other qualified lawyers

What the team is known for Solid team with considerable experience in transactional real estate matters. Frequently engaged in drafting and revising contracts in property management and financing. Mandates regularly come from clients in the energy and luxury property sectors and investors in holiday and residential developments.

Strengths Sources regard the team as "very good professionals who go into details and find a solution for every problem."

Another market observer states: "The team's advice is high quality and reliable."

Work highlights Advised Bulgarian Development Holdings on negotiations with the Bulgarian government for a memorandum of understanding regarding the acquisition of six state land plots as well as state investment promotion measures for a hotel and entertainment development project located near Sofia.

Assisted Hareon Solar Technology with procedures for implementing a 20 kV cable line serving the client's 25 MW solar power plant.

Significant clients Greenlife, IFC, Facility Management Group, Agrotime, Madara Print.

Notable practitioners

Elena Nenova's expertise includes real estate development projects and property management. She led the team that advised Greenlife on its Aivazovski park project in the city of Pomorie and another project near South Park in Sofia. Sources describe her as a "great partner" and have "a good impression" of her.

Department profile by Gugushev & Partners

Department profile not yet provided by Gugushev & Partners. Please see their firm profile.

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Schoenherr (in cooperation with Stoyanov & Tsekova) - Real Estate

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Band 4

第四等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Dimitar Vlaevsky
- 1 partner
- 4 other qualified lawyers

What the team is known for Offers a comprehensive service to a range of local and international clients, utilising its extensive regional network of offices. Acts on real estate transactions as well as the development and construction of properties. Also assists with long-term lease contracts and disputes.

Strengths One client notes: "This firm has managed to create a great mixture of the western way things are done with local characteristics and peculiarities."

Another source praises the team for their commercial acumen, saying: "We particularly like the fact that their lawyers are very customer-oriented and try to reach solutions considering the business side of the matter."

Work highlights Advised OMV Bulgaria on a restitution claim and on the acquisition of different sites for the development of retail and wholesale outposts.

Assisted S IMMO with lease agreements for an office building in Sofia.

Significant clients SAP Labs Bulgaria.

Notable practitioners

Dimitar Vlaevsky is highlighted as a "very experienced and outstanding lawyer," with a client adding: "We had very good co-operation with him and it is a pleasure to work with him. He is dedicated and well informed." He advises on acquisitions and lease agreements and has additional capabilities in dispute resolution.

Department profile by Schoenherr (in cooperation with Stoyanov & Tsekova)

Department profile not yet provided by Schoenherr (in cooperation with Stoyanov & Tsekova). Please see their firm profile.

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Band 1

Stephan Kyutchukov

Djingov, Gouginski, Kyutchukov & Velichkov

From the Chambers Europe guide

Department head Stephan Kyutchukov is reputed for his expertise and knowledge in the real estate space. A client enthuses that he is able to "define the best solutions for our needs as a customer." He advised Soufflet Group on the acquisition of real estate assets in Bulgaria.

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Band 1

Kinstellar

From the Chambers Europe guide

Antonia Mavrova climbs to the top tier following excellent feedback, with sources saying that "she is one of the best real estate lawyers in the country." Her range of expertise includes M&A, investment structuring, zoning and planning. She assisted Technomarket Bulgaria with a dispute strategy relating to the termination of its lease agreement with the owner of a shopping centre in a Bulgarian ski resort. Sources praise her approach, with one source stating: "The cool confidence and deep expertise with which she handles issues is very reassuring. She really cares about her clients and wants to develop a strong and trustworthy relationship."

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Band 1

Nickolay Nickolov

Boyanov & Co.

From the Chambers Europe guide

Sources deem Nickolay Nickolov to be "the best real estate lawyer in Sofia." He is noted for his 20 years of experience in the real estate sphere. He led the team advising IMO Rila EAD on a dispute with the Municipality of Sofia, which claims by law it owns one of the client's properties, a hotel in the city centre.

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Band 1

Kambourov & Partners

From the Chambers Europe guide

Market sources single out head of department Atanas Shopov as an "absolute top" and a "very knowledgeable, but also flexible and innovative" lawyer. He has extensive experience in the real estate market and led the team advising SALP on the EUR12 million design and construction of the Dobrich-Silistra gas pipeline, of which the client is the main contractor. One satisfied interviewee highlights Shopov's approach, saying: "Mr Shopov is a very well-versed, rational, intelligent and efficient lawyer."

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Band 2

Penkov, Markov & Partners

From the Chambers Europe guide

Interviewees say that head of department Milena Gaidarska "is undoubtedly a very talented, hardworking and reliable lawyer, with vast knowledge in real estate and construction matters and considerable experience." Others note that she has "great expertise" and is a "very valuable part of the team." She represented Alpha Bank and Chardash Trading in a lawsuit filed by the Bulgarian Science Academy before the Sofia Administrative Court regarding a claim of ownership over land on which the new Alpha Bank Headquarters are constructed.

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Band 3

Andrey Delchev and Partners - Eurolex Bulgaria

From the Chambers Europe guide

A source states that head of department Stoyan Barzakov "is excellent, available, well connected, and has great English language skills." He recently advised Consortium Tech Park on the construction of one of the buildings of the Sofia Science Technological Park in a matter valued at EUR2 million.

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Band 3

Wolf Theiss

From the Chambers Europe guide

Clients say that Vesela Dimitrova is "a hard-working, very talented lawyer with remarkable communication skills, which is very important when it comes to verbalising and explaining complex legal issues." She assists with lease agreements and structuring investments. She was part of the team who advised Critical Mix Bulgaria, the local subsidiary of an international developer of online surveys, on its investment in leased premises in an office building in Sofia.

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Band 3

Lyubimka Dyulgerova

Dyulgerova & Penkova Law Firm

From the Chambers Europe guide

Lyubimka Dyulgerova acts on commercial and litigious matters in the real estate sphere. She advised Garanti Koza on a wide range of matters including a mortgage agreement and real estate acquisition.

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Band 3

Radosveta Kojuharova

Kambourov & Partners

From the Chambers Europe guide

Radosveta Kojuharova led the team advising Sterling Retail on the EUR4 million development and construction of a new shopping centre and sports ground on the Black Sea coast. One client remarks: "When I talked to her I knew everything was going to be okay." She has particular expertise in real estate transactions and residential and commercial developments.

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Band 3

Gugushev & Partners

From the Chambers Europe guide

Elena Nenova's expertise includes real estate development projects and property management. She led the team that advised Greenlife on its Aivazovski park project in the city of Pomorie and another project near South Park in Sofia. Sources describe her as a "great partner" and have "a good impression" of her.

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Band 3

Dyulgerova & Penkova Law Firm

From the Chambers Europe guide

Victoria Penkova advised Regent’s Property Advisors on real estate due diligence and intermediary agreements with clients. She is frequently active in commercial matters as well as litigation.

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Band 3

Nikolina T Stefanova

Djingov, Gouginski, Kyutchukov & Velichkov

From the Chambers Europe guide

According to sources, Nikolina Stefanova "has real experience in real estate." Active in financing and M&A, she advised Global Trade Centres on its real estate investments in Bulgaria, including acquisitions, construction and project finance relating to three of its properties. 

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Band 3

Tocheva & Mandazhieva

From the Chambers Europe guide

"Experienced" department co-head Tanya Tocheva has particular expertise of leasing contracts and FIDIC and EPC acquisitions. She advised Ital-Teks on signing new lease agreements and the execution of amendments to the existing lease agreements with shopping centres in Bulgaria.

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Band 3

Schoenherr (in cooperation with Stoyanov & Tsekova)

From the Chambers Europe guide

Dimitar Vlaevsky is highlighted as a "very experienced and outstanding lawyer," with a client adding: "We had very good co-operation with him and it is a pleasure to work with him. He is dedicated and well informed." He advises on acquisitions and lease agreements and has additional capabilities in dispute resolution.

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Up and Coming

Dinova, Rusev & Partners

From the Chambers Europe guide

Head of department Georgi Vladov focuses on projects related to the construction of shopping centres and management of related real estate matters. Clients benefit from his additional expertise in banking and finance.

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