Serbian Planning and Construction Act Further Revised to Promote Investments into Real Estate Development

Serbian Planning and Construction Act Further Revised to Promote Investments into Real Estate Development

The validity of local conditions, one of the initial and most important documents in the permitting process showing what investor can build on certain piece of land, is to be extended from one to two years. The deadline to commence work under construction permit is also to be extended from two to three years from the issuance of the permit, to allow more time for investors to raise funds.

Although the proposed amendments are welcome, there is room for further improvement. Milan Dakic, partner at BDK Advokati, discussed the remaining pitfalls of the Planning and Construction Act in the June edition of CEE Legal Matters. Milan voiced his opinion that the procedure for amending planning documents should be more transparent. He also explains why the rules on construction on agricultural and forest land need more cautious approach. In addition, he puts the problems of construction and designing licenses in the spotlight.

The full article can be accessed from CEE Legal Matters website.

The validity of local conditions, one of the initial and most important documents in the permitting process showing what investor can build on certain piece of land, is to be extended from one to two years. The deadline to commence work under construction permit is also to be extended from two to three years from the issuance of the permit, to allow more time for investors to raise funds.

Although the proposed amendments are welcome, there is room for further improvement. Milan Dakic, partner at BDK Advokati, discussed the remaining pitfalls of the Planning and Construction Act in the June edition of CEE Legal Matters. Milan voiced his opinion that the procedure for amending planning documents should be more transparent. He also explains why the rules on construction on agricultural and forest land need more cautious approach. In addition, he puts the problems of construction and designing licenses in the spotlight.

The full article can be accessed from CEE Legal Matters website.