RRG to invest €60 million in Bucharest resi project

Business Forum

8 October, 2024 at 10:07 AM

RRG Real Estate Group (RRG) says it will invest €60 million in a Bucharest residential project that will be delivered at the end of 2026.

The first phase of the complex Lakeside 11 comprising 105 will be completed following an investment of €20 million. The group has appointed Consstar Construct as the general contractor of the project.

“In the last 20 years, the Romanian market has matured, and strong competition among developers is now a reality that continues to evolve and expand,” says Maxim Iakovlev, a member of the family that owns the group.

RRG has completed over 100 apartments across two projects in the last years, while the group has been operating locally for 20 years.

Why the future of real estate starts with people, not technology

At SEE Property Forum 2025, the conversation around the future of real estate took a bold turn — from smart buildings to smart relationships. Industry leaders agreed that while data, automation, and ESG strategies are reshaping commercial real estate, true innovation begins with understanding people. The discussion, moderated by Vessela Valtcheva-McGee of GBCI Europe, explored how developers, investors, and service providers are using technology not just to optimise buildings, but to redefine how tenants experience and value them.

Real estate

Bucharest hotel market to add 2,400 rooms by 2026

Bucharest's hotel market is set to expand by around 2,400 rooms by 2026, outpacing the estimated growth from other CEE-based capital cities, according to a Cushman & Wakefield report.

Real estate

PeliPartners assists Immofinanz on myhive Victoriei sale

Romanian law firm PeliPartners has assisted Immofinanz in the sale of myhive Victoriei to AFI Europe, in a deal worth an estimated €27 million.

Real estate

Cătălin Năstăsoiu, Genesis Property: Integrating the wellness wheel into offices

The current workforce landscape has been significantly influenced by recent challenges, leading to a shift in how employees perceive their well-being. This highlights the importance for employers to prioritize their employees' health and happiness, actively supporting them and fostering a workplace culture that values holistic well-being, writes Cătălin Năstăsoiu of Genesis Property.

Real estate

AFI Europe buys landmark office building in Bucharest from Immofinanz

AFI Europe has purchased the myhive Victoriei building in central Bucharest from Immofinanz for around €27 million. The new owner plans to turn the existing office building into a mixed-use project, with the conversion permit already secured.

Real estate

Bellemonde secures funding for resi project near Bucharest

Romanian developer Bellemonde Developement has obtained €21 million in funding from Libra Internet Bank for a residential project in Pipera, near Bucharest.

Real estate

HILS Development posts 28% resi sales growth in H1 2024

Romanian developer HILS Development has announced a 28% increase in residential sales during H1 2024 compared to the same period of last year, while revenue was up 25% year-on-year. 