David and Alexander Petrossian, along with Mikhail Razinkin, are the co-founders of CDA Group, which today holds one of the leading positions in Cyprus’s real estate development market. Their story is one of how family values can become a solid foundation for building a large-scale business. In this interview, Alexander and David share their thoughts on leadership, overcoming challenges, and what keeps their passion for the business alive even after decades of work.

You’ve come a long way together – from your first projects to large-scale business ventures. Do you remember the moment when you first realised you wanted to build something together? What was the deciding factor back then?

From the very beginning, we’ve walked through life side by side – as brothers, as partners, and as a family. The three of us started this business journey together: David and I as siblings, and Mikhail Razinkin – our relative, who became not only a part of the family, but also a true co-founder of the business. Everything we’ve built came not from cold calculations or a rigid business plan, but from a natural drive to move forward together. Family ties and shared values set the course for us, and we never really considered any alternative. This decision felt organic: we grew up in an environment where discussions, joint plans and responsibility for a shared outcome were part of everyday life. At some point it became clear that working together wasn’t just convenient – it was our natural way of operating. You could say the deciding factor was trust, and trust like that doesn’t appear out of thin air – it’s built over years within a family. It doesn’t need words: a single glance is often enough to know the other person thinks the same way.

Each of you came into business with your own background and education. How did your technical, managerial or practical experience shape your approach to business and decision-making?

Our experience and education shaped us gradually over time. Between us, we bring engineering expertise, managerial knowledge and entrepreneurial experience. Each of us contributed something unique, and together these elements formed a cohesive system. But it’s not just about degrees or professional titles – it’s about how you apply that knowledge in practice. We’ve learned that sound management principles are universal across industries: you need to see the big picture, understand people and adapt quickly.

In the early days, we didn’t have the luxury of a full team of specialists – we did everything ourselves: drafting texts, shaping concepts, building strategy. That experience taught us that a true entrepreneur must be willing to roll up their sleeves and understand the business from the ground up. And you have to be willing to learn constantly. Even now, we stay “in the loop” on all aspects – from marketing to engineering – because we believe that only deep involvement produces real quality.

Working together inevitably brings differences of opinion. How did you learn to divide roles, listen to each other and find common ground even in difficult discussions?

We’re a team that wasn’t built according to a textbook but based on shared worldviews. There were never rigidly defined boundaries for who does what – each of us took on as much as we could handle. And we’ve always been ready to step in for one another. Of course, there are sharp moments – that’s inevitable in big business. But we’ve learned to yield, listen and find compromises. Perhaps what helps is our shared strategic vision.

There’s also a habit of constant dialogue. Some days, we’d spend hours on the phone – driving to a meeting, working in the office, or heading home – and only finish talking late in the evening. These conversations are the invisible part of the business, but they’re what keeps us in sync. We sense each other’s pulse – and in business, that kind of synchronisation is priceless.

How do you maintain a shared vision for the business and avoid differences in personality or approach from pulling you off course? Have there been times when you had to re-align on values and goals?

Our shared vision stems from deeply aligned values and outlooks on life. We’ve never had to sit down formally and define a “company mission” – it evolved naturally from who we are. Being family brings a certain perspective. We don’t have disagreements on fundamental issues – neither in ethics, nor in how we treat people, nor in our view of business.
We make a point of being consistent in the essentials: respecting each other, respecting our partners and clients, and focusing on what truly matters. That creates not only internal alignment but also the reputation we’ve worked so hard to build and protect.

Entrepreneurs often face unexpected challenges. Can you recall a time when circumstances forced you to step outside your usual way of thinking – and what did it teach you?

The life of an entrepreneur is a series of challenges. One of the most striking examples for us was the period following the closure of Cyprus citizenship-by-investment programme. We watched the market reel under pressure: demand changed overnight, and many companies were destabilised.

For us, it was a test of resilience. We reaffirmed something we’d always believed in: caution and prudence is not a weakness – it’s a strength. We’ve always avoided debts and loan facilities, even when banks offered very favourable terms. That discipline allowed us to remain stable in difficult times. The lesson was clear: sometimes slowing your growth is wiser than putting the company’s stability at risk. Long-term success is built on thoughtful, consistent decisions. Flexibility and readiness to pivot are essential – but even more important is maintaining a strong backbone, the inner axis around which your strategy revolves.

Running a business requires constant balance between strategy and operations. How do you switch between these levels and stay energised?

For us, strategy and operations aren’t two separate worlds – they’re part of a single ecosystem. Strategy sets the direction, while operational tasks keep our finger on the pulse. We’ve always immersed ourselves in the details, whether it’s choosing materials for interiors or fine-tuning client communications. This hands-on approach gives us confidence that the big goals are achievable.

Equally important is staying inspired. Every new project is a chance to create something unique, and that sense of possibility fuels our drive. And then there’s the satisfaction of seeing results – not on a blueprint, but in real life. When something you’ve envisioned comes to life, starts to shine and evoke emotions in others – it gives you the energy to keep going. That’s the purest source of motivation.

Over time, every entrepreneur develops personal habits and methods of working. What helps you maintain clarity and inner balance in high-pressure situations?

For us, the best way to recharge is by switching focus within the business itself. We don’t “switch off” from work – but we don’t see that as a negative. On the contrary, reflecting on strategies over a glass of wine during weekend or discussing a project detail while travelling helps to clarify our thinking. That’s our version of balance: we don’t divide life and work into black-and-white zones because, for us, business isn’t just a way to earn – it’s a way to live.

We enjoy being in the process – debating, challenging, suggesting, questioning. Often, it’s during these “working weekends” that the best ideas and insights emerge.

How do you create a culture within your team so that people not only complete tasks but also embrace your values and see themselves as part of something bigger?

We aim to lead by example. Our team sees that we’re fully engaged, that we work alongside them and are prepared to tackle challenges at every level. This earns trust and inspires people to rise to the occasion.

We give our colleagues both freedom and responsibility: those who are ready to take initiative are empowered to do so. Perhaps that’s why many of our team members have been with us for years. Fairness is the core principle we promote within the company. People sense that their work is valued and reciprocate with loyalty and commitment.

We’re not afraid to delegate when we see professionalism and dedication. It’s a two-way street: as our team grows, so do we.

Every leader has moments of doubt. How do you deal with uncertainty and keep moving forward?

Doubt is natural. Sometimes a decision doesn’t come easily, and the best thing to do is discuss it together. In such moments, it’s vital to remember that we’re a team and don’t have to carry the weight alone. Together, we’re able to see things from fresh angles and find creative solutions.

It also helps to hold onto one core belief: even if 95% of success depends on external factors, the remaining 5% is within our control – and those 5% must be executed to perfection. That’s what builds reliability. It’s both our discipline and our freedom.

What does success mean to you – a specific result, recognition, inner peace, or something else? At what moments do you feel: yes, we’re on the right path?

Success for us is a combination of factors. It’s the recognition when people stop to take photos of our projects; the respect of peers; and, most importantly, the quiet sense of satisfaction within. Financial outcomes are important, of course, but they’ve never been the end goal.
True success is when a project excites us, when we see an empty plot of land transformed into something beautiful and alive. Those are the moments when we know we’re heading in the right direction.

And success is also seeing an idea “taking flight” – becoming part of the city’s skyline, part of people’s everyday lives. When you realise it’s not just a building – it’s a character, it’s a story, it’s a style.

Are there dreams or projects still “in the drawer” that you’d like to revisit? What inspires you to take the next step beyond what you’ve already achieved?

Of course, there are ideas waiting for their time. We love big projects – the kind where you can implement sound architectural concepts and fill spaces with unique meaning. Small steps aren’t for us.

What inspires us is the opportunity to create something impactful, something that shapes the identity of a place and stirs emotions in those who encounter it. That creative drive is what keeps us moving forward.

The perfect project is one where the architecture speaks, where design sets the mood, where every detail matters. We’re always searching for such opportunities. Sometimes they appear unexpectedly; other times, they grow naturally out of what came before.

If you could give one piece of advice to someone taking their first steps in business, what would it be? And what has been the most valuable lesson in your own journey?

Our advice is simple: whatever you do, give it your all! You can never be sure that circumstances will fall in your favour – there’s always an element of luck you can’t control. But if you honestly give your all and do everything in your power, your chances of success multiply.
And trust your intuition and your team. That’s how you navigate challenges and emerge stronger. We believe in this deeply: your effort – your daily commitment, even in the smallest things – creates the foundation on which anything can be built.

Interview by Kateryna Bila

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