Karma for Real Estate is planning to implement touristic residential projects in several areas across the North Coast and Ain Sokhna, according to the company’s Chairman, Ahmed Mostafa, reported Al Mal.

The company is also launching a 1,500 square meter compound in New Cairo called Karma Trio at an investment cost of EGP 40 mn. The compound will include 30 residential units with sizes ranging from 132 square meters to 235 square meters.

Mostafa added that the company is currently working on implementing several residential projects at a cost of EGP 120 mn, including a residential building located in New Cairo that will contain a total of 300 residential units with sizes ranging from 103 square meters to 325 square meters.

The company seeks to offer the units at moderate prices that range from EGP 4,400 to EGP 6,500 per square meter, with a 25% down-payment, and the remainder to be paid in installments over five years, according to Amwal Al Ghad.

The chairman added that the company seeks to offer its units at competitive prices to remain loyal to its customer, in spite of the current challenges in the real estate market that have prompted other real estate developers to increase the prices of their units.