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<br /> ISSUE 22 | www.dlapiperrealworld.com<br /> REAL ESTATE<br /> GAZETTE<br /> ASIA<br /> SENIOR HOUSING IN<br /> CHINA—OLDER AND<br /> WISER<br /> FRANCE<br /> STUDENT HOUSING AS A<br /> DISTINCT ASSET CLASS IN<br /> FRANCE<br /> ITALY<br /> LONG TERM CARE—A<br /> SAFE BET FOR INVESTORS<br /> UK<br /> CONTROVERSY WHEN ART<br /> BECOMES A REAL ESTATE<br /> ASSET CLASS<br /> MIDDLE EAST<br /> PARTNERSHIPS BETWEEN<br /> THE PUBLIC AND PRIVATE<br /> SECTORS IN DUBAI<br /> SWEDEN<br /> COMMERCIAL LEASES IN<br /> SWEDEN—ALTERNATIVES<br /> TO CUSTOMARY INDEX<br /> ADJUSTMENT CLAUSES<br /> FOCUS ON:<br /> SPECIALIZED ASSETS<br /> ANTICIPATING CHANGING<br /> TRENDS IN DISTINCT ASSET<br /> CLASSES WITHIN THE REAL<br /> ESTATE SECTOR<br /> 2 | REAL ESTATE GAZETTE<br /> A NOTE FROM<br /> THE EDITOR<br /> The twenty-second<br /> issue of the DLA<br /> Piper Real Estate<br /> Gazette highlights<br /><a title="Real Estate Gazette Issue 22 page 1" href="http://viewer.zmags.com/publication/5a45c2e8?page=1"> ISSUE 22 | www.dlapiperrealworld.com REAL E</a> <a title="Real Estate Gazette Issue 22 page 2" href="http://viewer.zmags.com/publication/5a45c2e8?page=2"> 2 | REAL ESTATE GAZETTE</a> <a title="Real Estate Gazette Issue 22 page 3" href="http://viewer.zmags.com/publication/5a45c2e8?page=3"> A NOTE FROM THE EDITOR The twenty-seco</a> <a title="Real Estate Gazette Issue 22 page 4" href="http://viewer.zmags.com/publication/5a45c2e8?page=4"> CONTENTS SPECIALIZED ASSETS</a> <a title="Real Estate Gazette Issue 22 page 5" href="http://viewer.zmags.com/publication/5a45c2e8?page=5"> ISSUE 22, 2015 UK 32 CONTROVERSY WHEN A</a> <a title="Real Estate Gazette Issue 22 page 6" href="http://viewer.zmags.com/publication/5a45c2e8?page=6"> I n Issue 7 of the DLA After a</a> <a title="Real Estate Gazette Issue 22 page 7" href="http://viewer.zmags.com/publication/5a45c2e8?page=7"> more than the total projected population of the U</a> <a title="Real Estate Gazette Issue 22 page 8" href="http://viewer.zmags.com/publication/5a45c2e8?page=8"> SPECIALIZED ASSETS | ASIA foreign investors </a> <a title="Real Estate Gazette Issue 22 page 9" href="http://viewer.zmags.com/publication/5a45c2e8?page=9"> SPECIALIZED ASSETS | ASIA by way of contr</a> <a title="Real Estate Gazette Issue 22 page 10" href="http://viewer.zmags.com/publication/5a45c2e8?page=10"> SPECIALIZED ASSETS | DENMARK SOCIAL HOUSING</a> <a title="Real Estate Gazette Issue 22 page 11" href="http://viewer.zmags.com/publication/5a45c2e8?page=11"> SPECIALIZED ASSETS | DENMARK “ The changes may i</a> <a title="Real Estate Gazette Issue 22 page 12" href="http://viewer.zmags.com/publication/5a45c2e8?page=12"> SPECIALIZED ASSETS | DENMARK </a> <a title="Real Estate Gazette Issue 22 page 13" href="http://viewer.zmags.com/publication/5a45c2e8?page=13"> the nature of a compulsory purchase, the better t</a> <a title="Real Estate Gazette Issue 22 page 14" href="http://viewer.zmags.com/publication/5a45c2e8?page=14"> SPECIALIZED ASSETS | FRANCE STUDENT HOUSING</a> <a title="Real Estate Gazette Issue 22 page 15" href="http://viewer.zmags.com/publication/5a45c2e8?page=15"> SPECIALIZED ASSETS | FRANCE “ Student accomodati</a> <a title="Real Estate Gazette Issue 22 page 16" href="http://viewer.zmags.com/publication/5a45c2e8?page=16"> SPECIALIZED ASSETS | FRANCE “ The lease will not</a> <a title="Real Estate Gazette Issue 22 page 17" href="http://viewer.zmags.com/publication/5a45c2e8?page=17"> development projects involving residential premis</a> <a title="Real Estate Gazette Issue 22 page 18" href="http://viewer.zmags.com/publication/5a45c2e8?page=18"> SPECIALIZED ASSETS | ITALY </a> <a title="Real Estate Gazette Issue 22 page 19" href="http://viewer.zmags.com/publication/5a45c2e8?page=19"> SPECIALIZED ASSETS | ITALY “ Italy is in a u</a> <a title="Real Estate Gazette Issue 22 page 20" href="http://viewer.zmags.com/publication/5a45c2e8?page=20"> SPECIALIZED ASSETS | ITALY </a> <a title="Real Estate Gazette Issue 22 page 21" href="http://viewer.zmags.com/publication/5a45c2e8?page=21"> are witnessing a revolution in the provision of c</a> <a title="Real Estate Gazette Issue 22 page 22" href="http://viewer.zmags.com/publication/5a45c2e8?page=22"> SPECIALIZED ASSETS | NORWAY HIGH TECH REAL </a> <a title="Real Estate Gazette Issue 22 page 23" href="http://viewer.zmags.com/publication/5a45c2e8?page=23"> the last few years, the region has attracted seve</a> <a title="Real Estate Gazette Issue 22 page 24" href="http://viewer.zmags.com/publication/5a45c2e8?page=24"> SPECIALIZED ASSETS | NORWAY “ Current indicat</a> <a title="Real Estate Gazette Issue 22 page 25" href="http://viewer.zmags.com/publication/5a45c2e8?page=25"> Going forward, the Ministry of Finance and the </a> <a title="Real Estate Gazette Issue 22 page 26" href="http://viewer.zmags.com/publication/5a45c2e8?page=26"> SPECIALIZED ASSETS | PORTUGAL LEGAL FRAMEWORK FOR</a> <a title="Real Estate Gazette Issue 22 page 27" href="http://viewer.zmags.com/publication/5a45c2e8?page=27"> SPECIALIZED ASSETS | PORTUGAL </a> <a title="Real Estate Gazette Issue 22 page 28" href="http://viewer.zmags.com/publication/5a45c2e8?page=28"> SPECIALIZED ASSETS | SPAIN </a> <a title="Real Estate Gazette Issue 22 page 29" href="http://viewer.zmags.com/publication/5a45c2e8?page=29"> for the following reasons: • In the case of an ac</a> <a title="Real Estate Gazette Issue 22 page 30" href="http://viewer.zmags.com/publication/5a45c2e8?page=30"> SPECIALIZED ASSETS | SPAIN </a> <a title="Real Estate Gazette Issue 22 page 31" href="http://viewer.zmags.com/publication/5a45c2e8?page=31"> SPECIALIZED ASSETS | SPAIN “ It is not always p</a> <a title="Real Estate Gazette Issue 22 page 32" href="http://viewer.zmags.com/publication/5a45c2e8?page=32"> SPECIALIZED ASSETS | UK CONTROVERSY WHEN ART BEC</a> <a title="Real Estate Gazette Issue 22 page 33" href="http://viewer.zmags.com/publication/5a45c2e8?page=33"> SPECIALIZED ASSETS | UK “ Local graffiti artists</a> <a title="Real Estate Gazette Issue 22 page 34" href="http://viewer.zmags.com/publication/5a45c2e8?page=34"> SPECIALIZED ASSETS | UK Dreaml</a> <a title="Real Estate Gazette Issue 22 page 35" href="http://viewer.zmags.com/publication/5a45c2e8?page=35"> real property. In most cases (though not this one</a> <a title="Real Estate Gazette Issue 22 page 36" href="http://viewer.zmags.com/publication/5a45c2e8?page=36"> SPECIALIZED ASSETS | USA NON-CONVENTIONAL REAL ES</a> <a title="Real Estate Gazette Issue 22 page 37" href="http://viewer.zmags.com/publication/5a45c2e8?page=37"> SPECIALIZED ASSETS | USA “ Lease contract intang</a> <a title="Real Estate Gazette Issue 22 page 38" href="http://viewer.zmags.com/publication/5a45c2e8?page=38"> SPECIALIZED ASSETS | USA Income from CFC</a> <a title="Real Estate Gazette Issue 22 page 39" href="http://viewer.zmags.com/publication/5a45c2e8?page=39"> be treated as good income without interfering wit</a> <a title="Real Estate Gazette Issue 22 page 40" href="http://viewer.zmags.com/publication/5a45c2e8?page=40"> GENERAL REAL ESTATE | MIDDLE EAST PARTNERSHIPS B</a> <a title="Real Estate Gazette Issue 22 page 41" href="http://viewer.zmags.com/publication/5a45c2e8?page=41"> GENERAL REAL ESTATE | MIDDLE EAST where the </a> <a title="Real Estate Gazette Issue 22 page 42" href="http://viewer.zmags.com/publication/5a45c2e8?page=42"> GENERAL REAL ESTATE | MIDDLE EAST mul</a> <a title="Real Estate Gazette Issue 22 page 43" href="http://viewer.zmags.com/publication/5a45c2e8?page=43"> “ GENERAL REAL ESTATE | MIDDLE EAST The Dubai</a> <a title="Real Estate Gazette Issue 22 page 44" href="http://viewer.zmags.com/publication/5a45c2e8?page=44"> GENERAL REAL ESTATE | POLAND PROPOSED NEW CONSTR</a> <a title="Real Estate Gazette Issue 22 page 45" href="http://viewer.zmags.com/publication/5a45c2e8?page=45"> GENERAL REAL ESTATE | POLAND </a> <a title="Real Estate Gazette Issue 22 page 46" href="http://viewer.zmags.com/publication/5a45c2e8?page=46"> GENERAL REAL ESTATE | POLAND </a> <a title="Real Estate Gazette Issue 22 page 47" href="http://viewer.zmags.com/publication/5a45c2e8?page=47"> violating the law, and only if the violation is n</a> <a title="Real Estate Gazette Issue 22 page 48" href="http://viewer.zmags.com/publication/5a45c2e8?page=48"> GENERAL REAL ESTATE | RUSSIA THE PRINCIPL</a> <a title="Real Estate Gazette Issue 22 page 49" href="http://viewer.zmags.com/publication/5a45c2e8?page=49"> GENERAL REAL ESTATE | RUSSIA “ Conducting ne</a> <a title="Real Estate Gazette Issue 22 page 50" href="http://viewer.zmags.com/publication/5a45c2e8?page=50"> GENERAL REAL ESTATE | RUSSIA const</a> <a title="Real Estate Gazette Issue 22 page 51" href="http://viewer.zmags.com/publication/5a45c2e8?page=51"> other rights and obligations. In the absence of s</a> <a title="Real Estate Gazette Issue 22 page 52" href="http://viewer.zmags.com/publication/5a45c2e8?page=52"> GENERAL REAL ESTATE | SWEDEN </a> <a title="Real Estate Gazette Issue 22 page 53" href="http://viewer.zmags.com/publication/5a45c2e8?page=53"> tax, for costs that were not known at the date of</a> <a title="Real Estate Gazette Issue 22 page 54" href="http://viewer.zmags.com/publication/5a45c2e8?page=54"> ISSUE 22 | www.dlapiperrealworld.com REAL E</a> <a title="Real Estate Gazette Issue 22 page 55" href="http://viewer.zmags.com/publication/5a45c2e8?page=55"> ISSUE 22 KEY CONTACTS EMEA Olaf Schmidt Co-chair,</a> <a title="Real Estate Gazette Issue 22 page 56" href="http://viewer.zmags.com/publication/5a45c2e8?page=56"> www.dlapiperrealworld.com</a>