According to the Provisional Article 1, that is added to the Turkish Code of Obligations with the 4th article of the "Law on Amendments to the Lawyers' Code and the Turkish Code of Obligations" numbered 7409, which was published in the Official Gazette on 11.06.2022 and is valid as of that day residential rent agreements regarding the rental fee to be applied in the renewed rental periods between the date of entry into force of this article and 01.07.2023 (including these dates) are valid, provided that they do not exceed twenty-five percent of the rental fee of the previous rental year. In other words, contracts containing more than a twenty-five percent increase in housing rent compared to the previous year were deemed invalid in terms of the excess amount.
Clifford Chance Advises G City Europe on Disposal of Arkady Pankrac Shopping Center
Clifford Chance has advised G City Europe Limited on the sale of the Arkady Pankrac shopping center to Trigea, a part of the Partners group. White & Case reportedly advised Trigea.
KWKR Advises Van der Vorm on 119-Apartment Acquisition in Warsaw
KWKR Konieczny Wierzbicki and Partners has advised the Van der Vorm Group on its acquisition of 119 residential units located on Siennicka Street in Warsaw.
Wolf Theiss Advises Real Estate Development on River Park Sofia Project
Wolf Theiss has advised the Real Estate Development company on the development of the River Park Sofia project.
AP Legal Advises on EUR 34.5 Million Loan for Hillside
AP Legal has advised a syndicate of banks including Eurobank Direktna, NLB Komercijalna Banka, and OTP Bank Srbija on an EUR 34.5 million loan to Hillside.
Musat & Asociatii Advises Tecadra Hotels on Accor Partnership
Musat & Asociatii has advised Tecadra Hotels on its partnership with the Accor Group for the complete transformation and expansion of the Tecadra Hotel in Bucharest.
Hungary's Land Registry System Enters the 21st Century
On 15 June 2021, the Hungarian Parliament passed Act C of 2021 on Land Registration that was supposed to enter into force on 1 February 2023. As this deadline neared, it became evident that neither private citizens, companies, lawyers nor authorities were adequately prepared for the change.