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<br /> REAL ESTATE<br /> GAZETTE<br /> ASIA<br /> THE MOVEMENT OF<br /> ASIAN CAPITAL INTO<br /> UK INFRASTRUCTURE<br /> PROJECTS<br /> AUSTRALIA<br /> NEW TAX MEASURES TO<br /> ASSIST FOREIGN AND<br /> DOMESTIC INVESTORS IN<br /> INFRASTRUCTURE<br /> BELGIUM<br /> THE NEW “ROCKET”<br /> PROCEDURE SPEEDS UP<br /> COMPLEX PROJECTS IN<br /> THE FLEMISH REGION<br /> DENMARK<br /> ISSUES IN THE<br /> INFRASTRUCTURE<br /> TENDERING PROCESS<br /> USA<br /> US INFRASTRUCTURE<br /> CRISIS—COULD THE<br /> INTERNATIONAL P3<br /> MODEL HELP?<br /> ITALY<br /> A NATIONAL LAW TO<br /> GOVERN THE USE OF<br /> UNDEVELOPED LAND?<br /> SPAIN<br /> INTEREST IN THE HOTEL<br /> INDUSTRY BRINGS NEW<br /> LIFE TO THE SPANISH<br /> MARKET<br /> ISSUE 16<br /> INFRASTRUCTURE<br /> AND RELATED REAL<br /> ESTATE ISSUES<br /> SPRING/SUMMER 2014 | www.dlapiperrealworld.com<br /> 2 | REAL ESTATE GAZETTE<br /> A NOTE FROM<br /> THE EDITOR<br /> A NOTE FROM<br /> TH<a title="DLA Piper Real Estate Gazette - Issue 16 page 1" href="http://viewer.zmags.com/publication/693512a2?page=1"> REAL ESTATE GAZETTE ASIA THE MOVEMENT OF AS</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 2" href="http://viewer.zmags.com/publication/693512a2?page=2"> 2 | REAL ESTATE GAZETTE</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 3" href="http://viewer.zmags.com/publication/693512a2?page=3"> A NOTE FROM THE EDITOR A NOTE FROM THE EDITOR </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 4" href="http://viewer.zmags.com/publication/693512a2?page=4"> CONTENTS INFRASTRUCTURE AND</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 5" href="http://viewer.zmags.com/publication/693512a2?page=5"> ISSUE 16 SPRING/SUMMER 2014 GENERAL REAL ESTA</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 6" href="http://viewer.zmags.com/publication/693512a2?page=6"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | A</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 7" href="http://viewer.zmags.com/publication/693512a2?page=7"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | A</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 8" href="http://viewer.zmags.com/publication/693512a2?page=8"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | A</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 9" href="http://viewer.zmags.com/publication/693512a2?page=9"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | A</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 10" href="http://viewer.zmags.com/publication/693512a2?page=10"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | A</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 11" href="http://viewer.zmags.com/publication/693512a2?page=11"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | A</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 12" href="http://viewer.zmags.com/publication/693512a2?page=12"> NEW TAX MEASURES TO ASSIST FOREIGN AND DOMESTIC I</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 13" href="http://viewer.zmags.com/publication/693512a2?page=13"> and proceeding with the implementation of the thi</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 14" href="http://viewer.zmags.com/publication/693512a2?page=14"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | B</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 15" href="http://viewer.zmags.com/publication/693512a2?page=15"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | B</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 16" href="http://viewer.zmags.com/publication/693512a2?page=16"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | B</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 17" href="http://viewer.zmags.com/publication/693512a2?page=17"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | B</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 18" href="http://viewer.zmags.com/publication/693512a2?page=18"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | D</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 19" href="http://viewer.zmags.com/publication/693512a2?page=19"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | D</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 20" href="http://viewer.zmags.com/publication/693512a2?page=20"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | D</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 21" href="http://viewer.zmags.com/publication/693512a2?page=21"> INFRASTRUCTURE AND RELATED REAL ESTATE</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 22" href="http://viewer.zmags.com/publication/693512a2?page=22"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | G</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 23" href="http://viewer.zmags.com/publication/693512a2?page=23"> clear responsibilities; and (v) insufficient prep</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 24" href="http://viewer.zmags.com/publication/693512a2?page=24"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | G</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 25" href="http://viewer.zmags.com/publication/693512a2?page=25"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | G</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 26" href="http://viewer.zmags.com/publication/693512a2?page=26"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | M</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 27" href="http://viewer.zmags.com/publication/693512a2?page=27"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | M</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 28" href="http://viewer.zmags.com/publication/693512a2?page=28"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | M</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 29" href="http://viewer.zmags.com/publication/693512a2?page=29"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | M</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 30" href="http://viewer.zmags.com/publication/693512a2?page=30"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | N</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 31" href="http://viewer.zmags.com/publication/693512a2?page=31"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | N</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 32" href="http://viewer.zmags.com/publication/693512a2?page=32"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | N</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 33" href="http://viewer.zmags.com/publication/693512a2?page=33"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | N</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 34" href="http://viewer.zmags.com/publication/693512a2?page=34"> NEW OPPORTUNITIES FOR DEVELOPING PRIVATELY FUNDED</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 35" href="http://viewer.zmags.com/publication/693512a2?page=35"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | R</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 36" href="http://viewer.zmags.com/publication/693512a2?page=36"> investment, ensuring a rational and efficient use</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 37" href="http://viewer.zmags.com/publication/693512a2?page=37"> Characteristics and risks The main purpose of a c</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 38" href="http://viewer.zmags.com/publication/693512a2?page=38"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | U</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 39" href="http://viewer.zmags.com/publication/693512a2?page=39"> in Asia. Those countries have seen benefits inclu</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 40" href="http://viewer.zmags.com/publication/693512a2?page=40"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | U</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 41" href="http://viewer.zmags.com/publication/693512a2?page=41"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | U</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 42" href="http://viewer.zmags.com/publication/693512a2?page=42"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | U</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 43" href="http://viewer.zmags.com/publication/693512a2?page=43"> INFRASTRUCTURE AND RELATED REAL ESTATE ISSUES | U</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 44" href="http://viewer.zmags.com/publication/693512a2?page=44"> GENERAL REAL ESTATE | FRANCE PRACTICAL ASPECTS OF</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 45" href="http://viewer.zmags.com/publication/693512a2?page=45"> GENERAL REAL ESTATE | FRANCE </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 46" href="http://viewer.zmags.com/publication/693512a2?page=46"> GENERAL REAL ESTATE | ITALY NEW LEGISLATION TO </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 47" href="http://viewer.zmags.com/publication/693512a2?page=47"> GENERAL REAL ESTATE | ITALY “ The same law applie</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 48" href="http://viewer.zmags.com/publication/693512a2?page=48"> GENERAL REAL ESTATE | ITALY A NATIONAL LAW TO G</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 49" href="http://viewer.zmags.com/publication/693512a2?page=49"> </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 50" href="http://viewer.zmags.com/publication/693512a2?page=50"> GENERAL REAL ESTATE | NETHERLANDS OWNERSHIP VER</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 51" href="http://viewer.zmags.com/publication/693512a2?page=51"> GENERAL REAL ESTATE | NETHERLANDS “ Reliance on t</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 52" href="http://viewer.zmags.com/publication/693512a2?page=52"> GENERAL REAL ESTATE | NETHERLANDS with its o</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 53" href="http://viewer.zmags.com/publication/693512a2?page=53"> GENERAL REAL ESTATE | NETHERLANDS Ownership </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 54" href="http://viewer.zmags.com/publication/693512a2?page=54"> GENERAL REAL ESTATE | POLAND SECURING TITLE T</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 55" href="http://viewer.zmags.com/publication/693512a2?page=55"> obliged to pay a fee for granting this right amou</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 56" href="http://viewer.zmags.com/publication/693512a2?page=56"> GENERAL REAL ESTATE | PORTUGAL </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 57" href="http://viewer.zmags.com/publication/693512a2?page=57"> of foreign investors (looking to benefit from the</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 58" href="http://viewer.zmags.com/publication/693512a2?page=58"> GENERAL REAL ESTATE | RUSSIA THE EFFECT ON LAN</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 59" href="http://viewer.zmags.com/publication/693512a2?page=59"> Challenging the cadastral value A land owner or u</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 60" href="http://viewer.zmags.com/publication/693512a2?page=60"> once again.A highly controversial case in recent </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 61" href="http://viewer.zmags.com/publication/693512a2?page=61"> and trying hard to find some compromise. (1) It i</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 62" href="http://viewer.zmags.com/publication/693512a2?page=62"> GENERAL REAL ESTATE | SPAIN INTEREST IN THE HO</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 63" href="http://viewer.zmags.com/publication/693512a2?page=63"> hand, this results in higher energy efficiency (a</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 64" href="http://viewer.zmags.com/publication/693512a2?page=64"> GENERAL REAL ESTATE | SPAIN degree of risk that </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 65" href="http://viewer.zmags.com/publication/693512a2?page=65"> GENERAL REAL ESTATE | SPAIN the operator </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 66" href="http://viewer.zmags.com/publication/693512a2?page=66"> GENERAL REAL ESTATE | TURKEY </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 67" href="http://viewer.zmags.com/publication/693512a2?page=67"> GENERAL REAL ESTATE | TURKEY “ Termination rights</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 68" href="http://viewer.zmags.com/publication/693512a2?page=68"> GENERAL REAL ESTATE | UK UK SUPREME COURT DECI</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 69" href="http://viewer.zmags.com/publication/693512a2?page=69"> being estimated in money; • the injury can be </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 70" href="http://viewer.zmags.com/publication/693512a2?page=70"> GENERAL REAL ESTATE | UK • The burden is then on</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 71" href="http://viewer.zmags.com/publication/693512a2?page=71"> who buys a property can complain of a nuisa</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 72" href="http://viewer.zmags.com/publication/693512a2?page=72"> GENERAL REAL ESTATE | UK </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 73" href="http://viewer.zmags.com/publication/693512a2?page=73"> Rates </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 74" href="http://viewer.zmags.com/publication/693512a2?page=74"> GENERAL REAL ESTATE | UK </a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 75" href="http://viewer.zmags.com/publication/693512a2?page=75"> B’s liability to LBTT. This represents a major ch</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 76" href="http://viewer.zmags.com/publication/693512a2?page=76"> REAL ESTATE GAZETTE ASIA THE MOVEMENT OF AS</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 77" href="http://viewer.zmags.com/publication/693512a2?page=77"> ISSUE 16 SPRING/SUMMER 2014 KEY CONTACTS EMEA Ola</a> <a title="DLA Piper Real Estate Gazette - Issue 16 page 78" href="http://viewer.zmags.com/publication/693512a2?page=78"> www.dlapiperrealworld.com</a>