Top 10 Legal Developments in the Real Estate Market in 2020
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Key takeaways:
- International law firm “Debevoise & Plimpton LLP” presents an overview of the most significant developments of 2020 in Russian real estate, construction and infrastructure sectors.
- In 2020, a list of government support measures for investments was extended (Investment Protection and Promotion Agreements); it was determined, which types of works may be done before obtaining a construction permit; 30% of construction norms and regulations were declared non-mandatory; and rules for BIM modeling in construction were adopted.
- Courts have issued decisions regarding important real estate problems, including failure of the tenant to move in the leased premises; transfer of guarantee obligations for work performed by initial contractor to a new contractor; and ownership of materials and equipment purchased by the contractor for performance of works under construction agreement.
- Moreover, at the moment, changes in legislation on state registration of real estate and on aerodrome environs are being elaborated. A number of changes are also planned in line with implementation of the construction digitalization plan (BIM-modeling).