Karma Urban Development has officially entered Egypt’s real estate market with the launch of its first project, KAVI, in New Cairo’s Narges area. The mixed-use development combines commercial, administrative, and medical components and occupies a strategic location on one of the area’s main axes.
As part of the launch, Karma Urban Development signed cooperation agreements with engineering consultancies and specialized companies responsible for designing, managing, and operating large commercial centers in Egypt.
Mohamed Aly, Chairperson and CEO, emphasized that the company’s entry is guided by a clear development strategy, drawing on the founding team’s 39 years of experience in real estate, construction, and investment across Egypt and Saudi Arabia. KAVI marks the first project in a broader pipeline planned under Karma’s expansion strategy.
Hassan El-Rifai, Saudi founder and partner, said the decision to invest in Egypt reflects strong confidence in the local real estate market, which he described as stable and dynamic.
The architectural design, presented by Mohamed Hafez of Hafez Consultants, prioritizes functionality, sustainability, and efficient circulation. Covering over 7,000 square meters, the development includes a ground floor, four upper floors, and two basement levels. Its distinctive V-shaped layout is intended to enhance visibility, accessibility, and internal traffic flow.
Khaled El-Sharkawy, President of Mega Plan, which will manage the commercial areas, highlighted the project’s operational strategy, built on integrated management systems to regulate visitor flow and improve efficiency. Walid Shokr, CEO of MEP Solutions, noted that KAVI incorporates smart building and energy management systems designed to optimize energy use, improve indoor air quality, and enhance operational performance through centralized monitoring.
On the commercial side, Amr Heikal, Head of Karma’s Commercial Sector, said flexible payment plans are available for the launch phase, including instalments of up to eight years and limited introductory pricing offers. Karma Urban Development confirmed that additional projects are planned as part of its broader expansion into Egypt’s real estate market.
