The increasing demand for real estate in Ukraine has dramatically increased the tempo of construction. Unsurprisingly, this sphere of Ukrainian economic and business activity is now one of the most popular for both domestic and foreign capital. Construction output has grown 14.5% in the first half of 2007 compared to 6.9% for the same period in 2006.

Investments are being made in all major construction areas, whether for office, retail, industrial or housing purposes. The most popular – office and retail markets – is associated with dramatically high levels of foreign investment activity despite the instable situation in the land and construction area, together with certain continuing legislative barriers. Real estate investors are now entering the market in greater strength and in ever more sophisticated ways, with the concurrent need for increasingly sophisticated legal support.

Town-planning in Ukraine is one of the most complicated in terms of management. It is also one of the most legislatively unprotected spheres of the economy for investment activity. In the absence an effective legislative framework, the avoidance of legal problems requires considerable experience; an excellent understanding of legislation; and also a working knowledge of practical techniques for resolving problems in this area.

Konnov & Sozanovsky, one of the leading Ukrainian law firms, has acquired a wealth of experience across the full range of planning, architectural, investment and construction area. Our lawyers render effective legal assistance to the clients in questions related to the building process; acting in compliance with national legislation; and maintaining an up-to-date understanding of regional and local rules of building and management of real estate objects. Our firm provides legal support to large national and international businesses. We represent clients in all respective state bodies on questions related to the registration of rights to land plots and planning, and also provide legal assistance with the town-planning process, as well as legal due diligence of related documents.

The real estate sector in Russia is marked by high demand and a rapid pace of construction This is not surprising. This sphere of economic and commercial activity is one of the most attractive for domestic as well as foreign capital. Construction in the Russian Federation is one of the most profitable types of activity.

Capital investment is realized in all the main branches of the construction, such as office construction, house-building, trade and industrial premises/lodgings. Notwithstanding the unstable situation in the sector of land use and construction, as well as some legislative obstacles, such as the most popular market segments, like construction of the office and trade premises/lodgments attract significant (in)flows of foreign investment. Investors come into the real estate market in need of highly professional legal assistance and support.

Construction in Russia is one of the most difficult business fields with the heightened level of responsibility, for the conduct of which the receipt of special permission/authorization, e.g. license is indispensable. Moreover, the legislative regulation of this sphere is highly unstable. Over the last several years licensing of the construction and project design activity was cancelled, but at the last moment its force was extended. Extremely rarely construction companies managed to fulfill the project construction in the legal course, with the receipt of the authorizations at every construction stage and realization of all the agreements. Particular attention must be paid to the procedure of the project’s entry into occupancy and use. In the absence of effective legislation and forthe purpose of resolving legal problems great experience is needed, knowledge of the legislature, as well as practical skills of problem solutions in this realm.

Konnov & Sozanovsky’s lawyers have a wealth of legal practice experience in all the aspects of construction, design, architecture and investment activity. Our lawyers render effective legal help to clients on issues of the construction process support, observance of the Russian legislative provisions, regional and local rules of the building/development/housing and real estate objects management.

Konnov & Sozanovsky’s lawyers represent the clients’ interests before all the state bodies on questions related to the registration of rights to land plots and planning, and also provide legal assistance in the town-planning process, as well as legal due diligence of related documents.

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