Josef Caleff

Schellenberg Wittmer

Zurich www.swlegal.ch

josef.caleff@swlegal.ch Tel: +41 44 215 9383

Biography

Josef Caleff (Certified Specialist SBA Construction and Real Estate Law, MRICS) co-heads Schellenberg Wittmer’s real estate group in Zurich. He is also a partner in the construction group, the hotels and leisure group and the corporate/ mergers and acquisitions group. Josef advises clients in all types of real estate transactions as well as developments, construction, leasing as well as public law matters.

Real estate law comprises many different fields of law, which makes it diverse, challenging, exciting and fascinating. In real estate law, you work together with interesting specialists from many different areas and backgrounds, such as technical, environmental, commercial and finance experts. Real estate law deals with an omnipresent part of life and very much relates to art, culture, socio-economics and politics.

How do you establish a detailed understanding of a client’s business to advise them effectively?

I follow closely all developments in the real estate space. Not only legal developments, but also the commercial, architectural, financial and technical trends. I ask the clients on the non-legal details of the transactions at hand, but also about their business model, their strategies and their views of the markets. I discuss with them the current trends and their expectations regarding their business. Working together on a long-term basis helps to understand the key issues of a client.

What are the greatest challenges currently facing Swiss construction and real estate lawyers?

Technological change and environmental aspects will trigger substantial regulations and raise new legal questions. For example, the wide-spread use of BIM will have a major impact on the relations and, hence, the contracts between all players in the market (contractors, developers, investors, etc.). The current crises in the energy markets, the price increases of raw materials, the shortage of professional personnel, inflation and the increase of interest rates increases uncertainty substantially, is a source of disputes and requires very careful contract drafting.

How does your degree in economics enhance your work as a real estate lawyer?

The degree in economics helps me to understand the macro-economic developments (inflation, interest, demand and supply) in the real estate markets. Based on this understanding I can develop my own view of the markets and the impact of changes. Furthermore, I have a good understanding of the financial mechanics of the business (accounting and valuation), which is key to properly address the needs of the clients.

In what ways do you expect the Swiss real estate market to develop in the near future?

The Swiss real estate market is a rather mature market. The demand for housing will, however, remain high. Hence, the re-development and extension of existing buildings (building densification) as well as energy-saving improvements will be important trends. In general, environmental aspects such as energy consumption, reduction of the use of raw materials, circle economy, will become key drivers of the markets. New forms of working, in particular co-working spaces and the increase of home office work, will have a material impact on the market for office space. The domestic institutional investors will become even more important players in the future as they have the necessary know how to navigate the markets in more difficult times. I also expect foreign investors to become again more active in the Swiss markets due to the (in comparison) favourable macro-economic and political situation in Switzerland.

What makes Schellenberg Wittmer stand out from its competitors in the market?

Schellenberg Wittmer has a large, fully integrated team of specialists covering the German and French-speaking part of Switzerland from Zurich and Geneva. The teams include experts in real estate, construction, tax, environmental and public law, both in litigation and in advisory matters. We have a very diverse international and national client base. Further, we have great expertise in standard property classes, but also detailed know how in special fields such as hotels or data centres.

How do you see your practice developing in the next five years?

Cost pressure will probably cause a certain degree of standardisation. Legal technology will reduce the amount of bulk work. At the same time, public regulations will increase. Hence, the demand for expert legal advice in complex and regulatory matters will increase. Attracting young, excellent lawyers will become even more difficult in the coming years. Cooperation with non-legal experts will be of great importance.

You have enjoyed a very distinguished career so far. What would you like to achieve that you have not yet accomplished?

The developments of new talents and the passing on of my expertise to the next generation would give me great satisfaction. The further growth of the team and the deepening of the relationship with the clients are certainly areas of focus for the next years.

WWL says: Josef Caleff impresses peers who note that he is a “hands-on, pragmatic, businessoriented and very highly skilled” practitioner with in-depth expertise in the transactional side of real estate.