RRG Real Estate Group enters new era with family ownership and flagship project Lakeside 11

RRG Real Estate Group is undergoing a significant transformation marked by a rebranding initiative, a shift in ownership, and the launch of a landmark development—Lakeside11. With a clear vision toward modern, sustainable, and community-focused living, the company is positioning itself as a rising force in Bucharest’s residential real estate sector. CIJ EUROPE caught up President Pavel Kodzik and Siarhei Artemenko, Project Manager at RRG.

New Ownership and Strategic Direction

In 2024, RRG Real Estate Group became a family-owned business under the leadership of Maxim Iakovlev. A Yale graduate with experience at big companies like Lehman Brothers and Goldman Sachs, Iakovlev brings a fresh strategic direction rooted in long-term value, sustainability, and lifestyle integration.

“RRG is no longer just about developing buildings,” said Kodzik. “We are focused on creating communities that balance urban convenience with green living—projects that genuinely enhance the lives of our residents.”
The company’s renewed identity, launched under the RRG Real Estate Group brand, reflects this evolution. Significant investment was made in marketing, branding, and product design to elevate market recognition and project quality.

Lakeside 11: A Milestone Development

The centerpiece of RRG’s transformation is the Lakeside11 project, launched in September 2024. Located on a 2.5-hectare site in northern Bucharest, the development is the result of nearly two decades of strategic land acquisition and planning. The project is expected to unfold over seven years and feature multiple phases. The first phase, consisting of three blocks, is already under construction and set for completion in December 2026.
With eight floors and a unique architectural identity, Lakeside11 is distinguished by its attention to detail and commitment to quality. The sales office, fully designed in-house, showcases elements of the future development—including custom furniture and landscaping features—as a tangible representation of the final product.

Design Philosophy and Business Class Positioning

The design of Lakeside11 follows Le Corbusier’s principles, elevating the living areas above ground level to separate pedestrian and vehicle traffic and create a floating community courtyard—referred to as the “Float Spot.” This raised space will include landscaped areas, playgrounds, and communal spaces for all residents.
What further sets Lakeside11 apart is the scale and layout of its apartments. Units are significantly larger than market averages—studio apartments begin at 50 sqm, while two-bedroom units reach 70 sqm or more. The low-density design includes only 160 apartments per hectare, in contrast to typical projects in Bucharest that range from 300 to 400.

“Each element, from the door swing to the landscaping, has been thoughtfully considered,” said Siarhei Artemenko, Project Manager at RRG. “We design from the inside out, ensuring every apartment layout is efficient and livable.”

Top-floor penthouses boast panoramic lake views and generous terraces of up to 64 sqm. Prices start from €105,000 + VAT for one-bedroom units and range up to €460,000 + VAT for penthouses, with full interior fit-outs included.

Innovative Sales and Investment Model

RRG has introduced a phased payment model called “#InvestWithRRG,” allowing buyers to partner in the development process. Clients pay in installments tied directly to construction progress—starting with down payment, followed by additional payments as key milestones are reached.

“This structure gives our clients security and control,” explained Kodzik. “They only pay as the building progresses. It creates a partnership model rather than a transactional one.”

Buyers who choose this option benefit from partnership pricing and, for investor clients, potential returns up to 20% annually if reselling upon project completion.

Administrative Challenges and Market Risks

Despite its optimism, RRG acknowledges the broader difficulties in Bucharest’s real estate landscape. Lengthy and unpredictable permitting processes have delayed development and driven up costs, disproportionately affecting small and mid-sized developers.

“Administrative blockages are having a serious impact,” said Kodzik. “Permitting delays can freeze construction for months if not years, risking financial viability. Without reform, the market risks monopolization by large players, reduced competition, and less affordable housing.”

RRG calls for a more transparent and collaborative dialogue with local authorities, aiming to balance regulatory oversight with efficient processing. “We’re ready to comply with any regulation,” Kodzik added, “but the administration must also commit to timely approvals.”

Building Trust through Transparency

Transparency is central to RRG’s sales and investor relations. Buyers receive bi-monthly video updates from the site, titled Inside Lakeside, providing a detailed view of construction progress. In addition, RRG makes its financial records available to buyers and has increased its group capital to over €10 million to reinforce financial credibility.

“People want more than an apartment—they want trust,” said Kodzik. “That’s why we show our progress, provide open financials, and keep communication consistent.”

Future Growth and Local Integration

RRG is considering expanding Lakeside 11 with nearby land parcels but remains focused on responsibly executing the current phases. The company also highlights the advantages of the location, which includes access to a metro station, commercial centers, and potential integration into Bucharest’s future “Promenada Verde” lakeside walking and cycling network.

“This area is still evolving, but we see its enormous potential,” said the team. “Our residents will benefit not just from what’s already here, but from the city’s long-term development plans.”

As RRG Real Estate Group moves forward under new leadership, it is clearly positioning itself as a modern, customer-focused, and quality-driven developer in Romania’s evolving residential market.

© Roberts Publishing