Karma Urban Development has announced the launch of its first project in New Cairo, marking the company's official entry into Egypt's real estate market. The development, KAVI, is a mixed-use project comprising commercial, administrative and medical components, strategically located on one of the main axes in the Narges area. As part of the launch, Karma Urban Development signed three cooperation protocols with engineering consultancy firms and specialised companies responsible for the design, management and operation of large commercial centres in Egypt. Mohamed Aly, Chairperson and CEO of Karma Urban Development, said the company's market entry is built on a clearly defined development strategy, noting that the founding team brings more than 39 years of experience in real estate development, construction and investment across Egypt and Saudi Arabia. He added that KAVI is the first in a pipeline of projects planned under the company's expansion strategy in Egypt. Meanwhile, Hassan El-Rifai, Saudi founder and partner at Karma Urban Development, said the decision to invest in Egypt was driven by strong confidence in the local real estate market, describing it as one of the region's most stable and dynamic sectors. The architectural design of KAVI was presented by Mohamed Hafez, Founder and President of Hafez Consultants, who explained that the project prioritises functionality, sustainability and efficient movement. The development spans more than 7,000 square metres and comprises a ground floor, four upper floors and two basement levels. Its distinctive V-shaped design aims to enhance visibility, accessibility and internal circulation. Khaled El-Sharkawy, Founder and President of Mega Plan, which will manage and operate the project's commercial areas, said the operational strategy is based on integrated management systems designed to improve efficiency and regulate visitor flow throughout the development. From an infrastructure perspective, Walid Shokr, Founder and CEO of MEP Solutions, noted that the project incorporates advanced smart building and energy management systems. These systems are designed to optimise energy consumption, enhance indoor air quality and improve operational efficiency through centralised monitoring and control. On the commercial front, Amr Heikal, Head of the Commercial Sector at Karma Urban Development, said the company has introduced flexible payment plans for the launch phase, with instalment options extending up to eight years, alongside limited introductory pricing offers. Karma Urban Development said further project announcements will follow as part of its broader expansion plans in the Egyptian real estate market.
