Real Estate & Construction
Reform of the real estate sector in Serbia in the past fifteen years was a one step forward two steps back game. Unreliable property registers, investor unfriendly city construction land legislation, complex and unclear permitting procedure are just some of the issues investors are faced with when trying to develop a real estate project in Serbia. Our team of specialized real estate lawyers have strong understanding of the industry and the regulatory landscape and are capable of devising and implementing strategies that achieve client’s goals and secure its success.
- Project Structuring: Advising on setting up the most appropriate project structure. Incorporation of project vehicles with adequate management organization.
- Real Estate Acquisition: Real estate title due diligence. In-depth target legal due diligence in case of share deals. Advising on all aspects of a prospective investment. Negotiating transaction documents and executing the transaction.
- Bankruptcy purchases: Advising on benefits and risks associated with purchase of real estate in bankruptcy procedure, as well as representation in the bankruptcy sales process.
- Zoning and planning: Assessing the existing planning documents. Advising on the procedure for adoption of a new planning document and assisting the investor throughout the process. Working in tandem with technical consultants ensuring the appropriate planning basis for the project. Advising on the necessity of environmental assessment. Negotiating the agreements on land development fee and the agreements on development of municipal infrastructure.
- Real Estate Finance: Negotiating term sheets, facility agreements and security documents. Perfecting the security package. Advising lenders and borrowers throughout the lending process.
- Real Estate Joint Ventures: Advising on structuring real estate joint ventures. Analysing associated corporate, tax and financing issues. Negotiating joint venture agreements, shareholder agreements, and other associated documents.
- Leasing: Setting-up standard lease documents for commercial landlords. Negotiating heads of terms, lease agreements and supporting lease documentation. Advising on risks related to early termination, fit-out works, rent review process, maintenance and repair obligations etc.
- Property Management: Advising commercial landlords on day-to-day legal issues arising from managing a real estate portfolio.
- Real Estate Litigation and Dispute Resolution: Advising on construction disputes between contractor and developer, lease terminations, evictions, lease and service charge claims. Advising on property transaction disputes.
- Condominium Developments: Advising on setting-up appropriate management structures amid restrictive and under-developed Serbian regulatory framework.
"BDK Advokati has experience in construction contracts; and regularly handles asset purchases. Other areas include retail parks, hotels, and property-related energy matters. The team advised a Spanish firm on construction contracts. Dragoljub Cibulić is ‘an excellent lawyer’."
- Legal 500 2018 (SERBIA)
"Outstanding real estate team with specific experience of handling FIDIC contract matters and mandates relating to retail developments, including both disputes and leasing concerns. Advises on real estate finance, as well as joint ventures and complex asset purchases. Represents major financial clients and public bodies in addition to large international and regional corporations with interests in the retail and hospitality sectors.
‘They intuitively know what to bring to my attention,’
‘they focus on what is important and their solutions are practical and cost-efficient.’"
- Chambers Europe 2018 (SERBIA)
"Regional firm with a respected commercial department which handles a range of real estate matters. Has notable experience acting on behalf of clients in the tourism and energy sectors. Advises clients on the acquisition of distressed assets and on disputes relating to FIDIC-based construction contracts. Also involved in public work projects, and noted for its expertise in coastal resort developments.
‘The lawyers from this firm are proactive and interested in our business,’
‘as reliable partners they always inform us about any changes in legislature which may affect our business.’"
- Chambers Europe 2018 (MONTENEGRO)