According to the government, the act is designed to tackle certain perceived downsides of excessive tourism, such as the lack of affordable long-term accommodation for the housing needs of the local population, a negative impact on the environment (especially the sea, sea coast, and islands), as well as a negative impact on cultural heritage sites.

Divjak Topic Bahtijarevic & Krka has advised Plava Laguna on the sale of Bonavia – a four-star hotel in Rijeka – to Bonavia Rijeka. Savoric & Partners advised the buyers.

Crido has advised Borgestad ASA on refinancing the credit for the Agora Bytom shopping center with Bank Pekao. CMS reportedly advised the bank.

Wojciech Koczara has joined Andersen’s Polish team as a Partner and will be responsible for the development of the Real Estate and Construction practice of the firm.

Aiming to create a modern, transparent, and unified regulatory framework by replacing the current fragmented regime, the new Hungarian Construction Act was adopted in December 2023.The new Act makes such substantial changes that most of its provisions will enter into force in phases between 2024 and 2027. In the following, we outline the basic features of the new Act.

Schoenherr has advised Standard Motor Products on its acquisition of an industrial facility in Hungary from Mektec Manufacturing Corporation Europe HU. The sellers were represented by solo practitioner Peter Zsadon.