Eng. Mohamed El-Basha, Chairman of Karnak Real Estate Developments, has announced that the company has officially obtained ministerial decree No. 998 for its flagship “Belva” compound in Sheikh Zayed City, Invest-Gate reports.

The step comes in preparation for launching construction works in line with the company’s delivery schedule.El-Basha emphasized that securing the ministerial decree reflects Karnak’s full compliance with regulatory standards, while reinforcing investors’ and clients’ confidence in the project’s legal and technical integrity. He praised the support of the New Urban Communities Authority (NUCA) in expediting the decree issuance, reflecting the state’s keenness on facilitating serious real estate investment.

Strategically spanning 18.5 acres in the Green Revolution area, Belva is designed by leading architect Raef Fahmy and is distinguished by a low built-up ratio of only 19%, dedicating the majority of its land to green spaces and landscaping. The project offers a new lifestyle concept, blending tranquility with modern amenities and unique architectural designs.

Belva features a wide range of facilities, including a 6,500 sqm clubhouse, two swimming pools, five sports courts, a 13,000 sqm shopping mall, underground parking, EV charging stations, and jogging and cycling tracks, in addition to residential units ranging between 90 and 267 sqm. The compound also enjoys a prime location near Hyper One, Dandy Mall, the Smart Village, Al Ahly Club, and Zed Park.

El-Basha further revealed that the company is preparing to launch the second phase of the project, offering premium units with competitive prices and flexible payment plans to meet the aspirations of target customers.

With over 30 years of experience in real estate development, Karnak boasts a diversified portfolio, including projects such as Miami City, Montazah Elegance, Smouha Elegance in Alexandria, and Vitali Mall in New Cairo, reaffirming its strong presence across multiple markets.