CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The Romanian Parliament has recently passed a new piece of legislation (“Law 124/2024”) allowing local authorities to extend until 31 December 2026 the validity term of the general urbanism plans (in Romanian: “planuri de urbanism generale” or “PUG”), which were drawn up and approved before 2003. Law 124/2024 entered into force on 10 May 2024 and approved Government Ordinance no. 33/2023 regarding the prolongation of certain validity terms in the urbanism and construction field (“GO 33/2023”).
Clifford Chance has advised Nofar Energy Romania on engineering, procurement, construction, and operation and management contracts with AJ Construction for a 73.6-megawatt photovoltaic park in Slobozia, Giurgiu County.
Bardek, Lisac, Musec, Skoko, and Partners in cooperation with CMS Reich-Rohrwig Hainz has advised Erste&Steiermaerkische Bank and Privredna Banka Zagreb on the more than EUR 130 million Valamar Collection Resort financing.
DWF has advised Ayesa Polska on the winning tender regarding the International Chopin Music Centre in Zelazowa Wola.
Greenberg Traurig has advised Gdansk-based Torus on the sale of the Format office building to a Singaporean fund represented by Greenstone. LegalKraft advised Greenstone.
The Real Estate Practice has been pivotal for AKL Law Firm, according to Managing Partner Helen Alexiou, with tourism, as a cornerstone for the economy, fueling an influx of international investors.
TGS Baltic has advised Nordic Investment Bank on an investment loan of EUR 16.1 million to TKM Kinnisvara to finance the construction of a logistics center.
