Milena Gaidarska



Practice Areas

Mrs. Gaidarska has long standing practical expertise in legal searches, elaboration of legal instruments and representation of clients in different areas of business law such as: Real Estate Transactions, Development and Construction, Commercialisation of Retail, Residential and Office Space, Financing and Securitisation of Real Estate Projects, Mergers and Acquisitions, Public Procurement.


Mrs. Gaidarska individually  and  as a members of various working groups in Penkov, Markov & Partners has been involved in the provision of legal advice and consultations as well as in the legal representation of clients under the following key projects: Acquisition of title, development and commercialisation: acquisition of ownership over terrains, development and letting retail space in the Commercial Centre “The Mall”; development and commercialisation of Paradise Commercial Centre; acquisition of Iztok AutoService and assistance in connection to the urban and development procedures for the construction of new multifunctional center with residential and office space; acquisition of terrains for the construction of hypermarkets operating under Kaufland chain. Mergers and Restructuring: Acquisition by Immoeast of minority shareholder stake in Ilienci Retail Bazaar and reorganization of the companies from the group; acquisition of minority stake in Familia supermarket’s chain; acquisition of real estate portfolio by Willi Betz Group and bond issue secured by mortgages over real estate properties. With her persistence and qualification Mrs. Gaidarska became a leading expert in the real estate transactions. Court Representation under claims related to real estate properties: Vrana case, instigated by rei vindicatio claim of Simeon Sakskoburggotski;  rei vindicatio claim of the Bulgarian Sciences Academy with respect to the terrain on which the head office of Alpha Bank Sofia is located; procurement of terrains and limited rights in rem and servitude rights in connection to the realization of various energy projects of Innovative Wind Concepts GmbH,  Legal Due Diligence: Bulgartabac Holding, Bulgarian River Navigation, Navigation Maritime Bulgare, State Insurance Institute, Eurobank, Sofia Business Park, Bulgarian Telecommunication Company, and many others.



  • Is VAT payable when transferring immovable property as liquidation share? PMP Legal News, issue 41 - 42, 2022
  • Challenges of Bulgaria’s legal market, Legal 500, 2020
  • Legal status of unfinished construction with an expired building permit, PMP Legal News, 2019
  • Preferences for Prime Class Investments, Lega InterConsult News, 2004
    Amendments to the Labour Code – New Obligations of Employers, Lega InterConsult News, 2004
  • The ban on engaging in competition with former employers, Lega InterConsult News, 2005
  • Commercial Register Outside the courts – in co-authorship with Vladimir Penkov, Lega InterConsult News, 2006
  • Europeans to be Able to Purchase Land in Bulgaria, Lega InterConsult News, 2007
  • Specialised Trade Courts, in co-authorship with Vladimir Penkov, Lega InterConsult News