Current Issues Related to Turnover-Based Rents
December 2025
Busra Ozden, Partner, and Yanki Tosyali, Associate
Kolcuoglu Demirkan Kocakli Attorneys at Law
Turnover-based rents have become widely used in recent years, driven by restrictions on the use of foreign currency, persistent inflation and rising rental costs. Although this rent model has sparked ongoing economic and sectoral debates, its practical implementation remains challenging due to the absence of clear legal provisions and the limited number of academic studies.
The general framework of lease law under the Turkish Code of Obligations ("TCO") is based on the assumption that…
"On One’s Own Land" – Key Steps Toward Secure Legalisation
December 2025
Zivkovic Samardzic Law Office
With the adoption of the Law on Special Conditions for Recording and Registration of Property Rights (popularly known as “On One’s Own Land”), the state has opened the possibility for owners of illegally constructed buildings to finally obtain legal ownership status and register their ownership rights through a significantly simplified procedure.
What “On One’s Own Land” means for property owners
Registration is possible even if the building was constructed illegally, including cases where no building permit or technical inspection…
Selih & Partnerji Advised ZDR Investments on Its Acquisition of LOGspot Logatec
October 2025
Our member firm Selih & partnerji acted as local legal counsel, alongside lead advisor NIRRIS, to ZDR Investments on its acquisition of LOGspot Logatec, a logistics real property, from Atrios Group.
The Selilh team providing comprehensive legal support on the Slovenian aspects of the transaction included: Blaz Ogorevc, Partner, and Senior Associates Blaz Murko and Sara Ermenc Lapajne.
This transaction reflects the growing attractiveness of the Slovenian real-estate and logistics market for international investors.
Selih & partnerji Advised SES Spar European Shopping Centers on the Purchase of the ARKADIA Shopping Centre
June 2025
Our member firms Selih & partnerji advised SES Spar European Shopping Centers, a leading developer and operator of large-scale, multifunctional retail properties across Central and Southern Europe, on the conclusion of the purchase agreement for the ARKADIA shopping center in Domzale, Slovenia.
The members of the Selih team included Partners Blaz Ogorevc, Miha Stravs and Spela Arsova, and Senior Associates Domen Kavka and Blaz Murko.
NNDKP Assisted Gránit Asset Management in the EUR 52 Million Acquisition of Equilibrium 1 Office Building
April 2025
Our member firm Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted Grodiusz Private Equity Fund, an investment fund managed by the Hungarian company Gránit Asset Management, in the acquisition of Equilibrium 1 office building from Skanska Commercial Development, one of the largest developers of commercial and residential projects, in a EUR 52 million transaction.
Gránit Asset Management, a Hungarian institutional investor managing 24 investment funds, including the third largest retail fund in Hungary, integrates real estate, capital markets and private equity expertise into…
Council of State Ruling on Reclassification of Expropriated Properties for Public Utility to Buildable Areas
March 2025
Constantinos Kavadellas, Partner, Georgia Panagopoulou, Counsel, Myria Kotrotsiou, Junior Associate, and Katerina Renieri
Kyriakides Georgopoulos Law Firm
According to recent case law from the Council of State, a property can legally be reclassified as a buildable area after its designation as a public utility area is removed.
In Decision No. 276/2025, the Council of State ruled that lifting urban expropriation and reclassifying a property from an area designated for school construction to a buildable area is lawful.
The legal criteria supporting such a reclassification include:
The…
NNDKP Obtains a New Court Decision Recognising the Right to Deduct VAT on Investment Expenses in Case of Project Abandonment
November 2024
Our member NNDKP's Center of Excellence in Fiscal Disputes (NNDKP CELF) has successfully represented a client in maintaining the recognition, through a final court decision, of the right to deduct VAT on expenses incurred for investments necessary to start or continue certain real estate projects that were ultimately not completed.
In this case, the taxpayer, a real estate developer, intended to start two real estate projects on the land they owned. The first project was not completed due to a legal dispute that prevented the start of construction. After the legal matter was resolved,…
NNDKP Assisted CTP in Acquiring Globalworth’s Fully Owned Logistics Portfolio
May 2024
Nestor Nestor Diculescu Kingston Petersen (NNDKP) has assisted CTP, Europe’s largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), in acquiring the logistics portfolio fully owned by Globalworth, the largest office investor in CEE, with leading positions in Romania and Poland.
The portfolio, comprised of 270,000 sqm GLA and 30ha landbank, includes six industrial parks and other complementary facilities in six key locations in Romania, including Bucharest, Arad, Pitesti, Oradea and Timisoara.
Following this acquisition CTP…
KG Advised CBE Capital on EUR 95 Million Financing for Six Senses Hotel in Porto Heli
April 2024
KG Law Firm’s Project Finance and Banking & Finance teams acted as Greek legal advisor to CBE Capital and the consortium of sponsors in securing a EUR 95 million senior bond loan facility from Piraeus Bank for the development of the Six Senses Hotel and branded residences in Porto Heli, Greece. The team at KG Law Firm facilitated the structuring, drafting and negotiation of transactional documents, as well as coordinated with lenders and provided comprehensive support throughout the implementation of the transaction. The EUR 150 million development, which is already being enlarged…
Reconstruction of Paromlin – Library and Social-Cultural Centre
June 2023
The reconstruction project of Paromlin that will be worth over EUR 80 million will start soon. The City of Zagreb has confirmed that the Paromlin renovation project under the name "Zagreb City Library and Social-Cultural Center at the Paromlin location" is being intensively prepared, that the implementation projects have been completed and that the preparation of the feasibility study will begin soon. Cultural, educational and other activities (plays, concerts, exhibitions, workshops, conferences and seminars) will take place there, organized by public institutions, non-profit organizations,…
BDK Advokati Advised Abu Dhabi Capital Group on the Sale of The Capital Plaza
April 2023
BDK Advokati’s team in Montenegro successfully advised Abu Dhabi Capital Group on the sale of the group of companies that own and operate The Capital Plaza, a premium business and residential complex in Podgorica, Montenegro. The companies were acquired by Big Group. The deal is the second-largest M&A deal in Montenegro in the past twelve months.
BDK’s core team that worked on this transaction included Senior Partner Luka Popovic, Senior Associate Jelena Brajkovic, and Junior Associate Marija Ksenija Popovic.
Picture-Copyright: Pixabay.com
ELI Parks Plans EUR 22 Million Investment
February 2023
ELI Parks continues its plans to consolidate its presence on the local market by investing in a new logistics and industrial park located in the western part of Romania (Oradea city). The project will cover and area of 30,000 m2 and the investment will total EUR 22 million.
