Real estate and construction2017-11-07T16:22:59+00:00
Real estate and construction

Real estate advice based on firm foundations.

The real estate markets of Serbia and Montenegro represent real opportunities for international real estate investors and developers. It’s vital however that they understand the nuances of the local region if they are to make the best decisions and avoid expensive mistakes. At Stankovic & Partners (NSTLAW), we work closely with our clients to appreciate their business drivers and help them achieve their aims.

Our experienced real estate team can provide you with tailored, responsive advice covering the full spectrum of your real estate and construction law needs. We help a wide range of investors, developers, funders and occupiers to overcome a variety of real property challenges connected with the acquisition or development of commercial, industrial, residential and mixed-use assets. This spans everything from strategic advice on initial planning and due diligence stages, through to the acquisition of land or built assets, assisting with related financing issues, handling all aspects of the construction process, and finally ensuring that the eventual sale or leasing proceeds smoothly. We also offer a comprehensive property management service for real estate investors.

With our particular name for big-ticket energy and infrastructure projects, it’s hardly surprising that we are a first port of call for advice on the real estate aspects of numerous renewables, waste management and other projects, while our outstanding restructuring and insolvency expertise is complemented by considerable experience of handling the sale of real estate assets by distressed or bankrupt companies. Our admired dispute resolution and regulatory teams also offer considerable sector expertise, completing a first class, all round real estate offering.

Our clients include a range of important funders, such as UCTAM, Serbia (a member of the UniCredit group) and the Czech Export Bank, as well as international developers and investors such as Savana Holding AB and Kimberly Enterprises N.V., Netherlands. Other clients include Sutherland Global Services, Serbian Innovation Fund, CA Immo International, Dona Pharm, Serbia (affiliate of Farmaciile Dona, one of the largest pharmacy networks in Romania), GOPA, Germany (member of GOPA Consulting Group) and IMLEK, Serbia (largest dairy products manufacturer).

Recent highlights:

  • advising on the €24 million purchase by Swedish investor Savana Holding AB of a hotel and shopping mall in Podgorica from a Montenegro company, a wholly-owned subsidiary of the Turkish Gintas Group;
  • acting for an international hotel brand on the €8 million acquisition of a luxury hotel resort and associated buildings located on land in Montenegro covered by the maritime legal regime;
  • acting for Marina Dorcol, whose parent company is a major real estate investment business with property holdings across Central and East Europe, on a €200 million project to develop a marina in Belgrade;
  • representing Imlek AD, the biggest dairy producer in Serbia, on the acquisition of land and the development of a waste water treatment plant;
  • acting for CCBill, CitySoul and others in relation to negotiating the terms of lease agreements for premises in large-scale office buildings and other properties in the region, and also advising Hauzmajstor, a member of Rustler Group and the biggest facilities management company in Serbia, on management agreements and contracts with subcontractors;
  • representing the Serbian Innovation Fund in relation to a complex lease agreement at the Science Technology Park, Zvezdara in Belgrade, including issues relating to the division of state-owned property between state institutions and science and educational centres;
  • advising the biggest Austrian real estate investor in Serbia on complex lease agreements for leasing its commercial estate in Belgrade, and further advising an Austrian investor on the acquisition and development of development land for a supermarket chain;
  • advising a leading debt management group in SE Europe on the purchase of a troubled loan portfolio from a Serbian bank, consisting of several hundred unpaid loans, many of which were secured by mortgages over property;
  • advising a Greek real estate fund on the acquisition of a shopping mall in Belgrade via a secured share deal, and a further Greek real estate investor on the acquisition of a prime office building in the Belgrade financial district via a secured share deal;
  • representing a large Serbian leisure company in a long-running €36 million dispute with a well-known Serbian shopping mall concerning a lease agreement between the two parties.