Karma Urban Development has officially announced its launch in the Egyptian real estate market, marking the beginning of a new expansion phase built on a strong Egyptian–Saudi partnership and more than 25 years of accumulated industry expertise, Invest-Gate reports.
The company is preparing to unveil its first projects in the coming days as part of its long-term plan to deliver high-quality, investment-focused developments with strong market competitiveness.
The company confirmed that its entry into the market is driven by a comprehensive strategic framework aimed at establishing a trusted real estate brand rooted in sustainable development, modern urban planning, and long-term value creation. Karma Urban Development draws on deep experience in engineering, construction, and large-scale development across Egypt and regional markets, positioning itself as a competitive new player capable of delivering integrated, future-ready urban projects.
Commenting on the official launch, Eng. Mohamed Ali, Chairman and CEO of Karma Urban Development, emphasized that the company’s philosophy is based on the intersection of innovation, expertise, and strategic planning. He stated that the current phase represents the beginning of an ambitious expansion aligned with Egypt’s national vision for sustainable and modern urban development. He highlighted that Karma aims to introduce distinguished real estate products built to high execution standards, offering strong investment returns and competitive advantages for both clients and investors.
Eng. Ali revealed that Karma has already completed preparations to introduce a pipeline of innovative developments, with the first major project set to be announced in the coming days. He noted that the project will reflect the company’s commitment to hotel-grade build quality, contemporary architectural design, and integrated urban planning that supports community living, efficiency, and long-term value.
Karma Urban Development is supported by a distinguished board of industry leaders combining Egyptian and Saudi expertise. Eng. Mohamed Ali brings over 25 years of experience across major projects in Nasr City, Heliopolis, Mohandessin, and New Cairo, as well as developments in the UAE. Joining him is Saudi board member Hassan Ateeq Al-Refaie, founder of Hassan Al-Refaie & Brothers Contracting, which has delivered more than 500,000 sqm and 22,000 residential units in the Kingdom to international standards. The board also includes Hesham Khaled, who bridges the fields of contracting, hospitality, and industrial development, and Eng. Ahmed Atef, a veteran of Building Management Systems (BMS) integration across complex facilities including airports, hotels, banks, and commercial developments.
Karma affirmed that its development model is rooted in transparency, innovation, and execution quality, with the objective of becoming one of the most trusted and value-driven real estate brands in Egypt and the region.