It has started humbly, but 2024 is expected to be a year of interesting political developments. At a global level, there will be elections for the President of the United States and for the European Parliament. At a local level, in Bulgaria, a rotation of the government is expected, which means that, according to the preliminary agreements between the governing parties, the position of the Prime Minister will be taken by Mariya Gabriel (of the GERB party; currently at the position of Deputy Prime Minister), who will replace the current Prime Minister – Nikolay Denkov (of the We Continue the Change party) – in March. For now, it is still questionable whether this switch will trigger the termination of the mandate of some of the ministers.

DWF has advised Baltic Towers on the over PLN 400 million design and construction agreement with general contractor Erbud for a factory set to produce offshore wind towers on Ostrow Island, near Gdansk, Poland.

The Hungarian Parliament adopted the bill on Hungarian architecture on 12 December 2023, and the Hungarian Architecture Act was officially published 10 days later. The date of entry into force is different for certain sections of the Act, namely 30 December 2023, 1 October 2024, 1 January 2026 and finally 1 July 2027.

Djingov Gouginski Kyutchukov & Velichkov, Allen & Overy, and RTPR have advised Lion’s Head Investments on a EUR 150 million financing from the International Finance Corporation.

Czabanski & Galuszynski has advised the Focus Estate Fund on obtaining financing for the acquisition of the Galeria Sandecja shopping center in Nowy Sacz from BNP Paribas. Dentons reportedly advised BNP Paribas.

Following almost four years of consultations and debates, on March 29, 2023, Romania’s Government has submitted for the adoption of the Senate the draft law on the Code of Land Planning, Urbanism and Construction (the “Urbanism Code”).