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.

Greenberg Traurig has advised Capital Park majority shareholder Madison International Realty on the sale of certain assets of the group as part of a management buy-out.

Pohla & Hallmagi has advised Restate on its sale of 5.5 hectares of development land in a logistics park near Tallinn to AS Schenker. Ellex advised Schenker.

AKL has advised Alpha Bank on a EUR 350 million refinancing deal with Astir Palace Vouliagmenis.

Tuca Zbarcea & Asociatii has advised the Amethyst Radiotherapy Group on the sale and lease-back of three buildings to the BT Property Alternative Real Estate Investment Fund.