With a Strong Egyptian–Saudi Partnership “Karma Urban Development” Announces Its Official Launch In the Egyptian Market and Prepares to Unveil Its First Projects In the Coming Days

As part of a comprehensive strategic plan and an Integrated urban vision, Karma urban development has officially announced its launch in the Egyptian real estate market, marking the beginning of a new chapter grounded in a powerful blend of Egyptian experience and Saudi vision.
The company aims to Introduce a real estate development model based on exceptional quality, reliability, and long-term value for investors and clients, delivering products built to the highest standards and offering strong competitive advantages and superior investment returns.

Karma’s entry into the market comes as part of its long-term strategy to establish a trustworthy real estate brand that reinforces the concept of sustainable development. The company draws upon a deep reservoir of experience, exceeding 25 years, in urban development and construction across Egypt and several regional markets.

Commenting on the company’s official launch, Eng. Mohamed Ali, Chairman and CEO of Karma Urban Development, stated that their expansion into the Egyptian market follows years of accumulated expertise and the successful delivery of distinguished real estate projects In Egypt and the Arab region.
He stressed that the current phase marks the beginning of an ambitious expansion strategy aligned with Egypt’s national vision for sustainable urban development and the creation of modern, future-forward real estate products.

He added that real estate development begins with a clear vIsion where expertise and innovation intersect — a belief that shaped the foundation of Karma Urban Development. The company aims to deliver investment-driven projects built to the highest standards of quality.
Eng. Ali revealed that Karma has built a strong, competitive entity fully prepared to launch a series of innovative urban developments, with the first project set to be announced in the coming days. The project will represent a significant addition to the market, reflecting the company’s philosophy of offering high-value real estate products with solid investment returns, modern designs, and hotel-grade execution standards.

He emphasized that Karma Urban Development Is committed to a development model rooted in transparency, innovation, and quality — with the goal of becoming one of the most trusted real estate brands in Egypt and the region.

About Karma Urban Development

Karma Urban Development Is a newly established entity that enters the market with the strength of a long-standing giant, backed by the combined expertise of Its Egyptian and Saudi founders.
The company is led by a distinguished board composed of prominent industry figures:

Eng. Mohamed Ali – Chairman & CEO

With over 25 years of experiencee in engineering, construction, project management, and urban development, Eng. Ali has delivered landmark projects across Nasr City, Heliopolis, Mohandessin, and New Cairo, along with successful developments in the UAE.

Hassan Ateeq Al-Refaie – Board Member (Saudi Arabia)

A leading figure In the Saudi construction and development sector and founder of Hassan Al-Refaie & Brothers Contracting.
With more than 15 years of experiencee, his company has executed over 500,000 sqm of fully integrated residential communities, comprising more than 22,000 units built to world-class standards, strengthening Its position as a top-tier developer in the Kingdom.

Hesham Khaled – Board Member

A distinguished professional who bridges the fields of contracting, hospitality, and industrial development.
He has a proven track record In delivering and managing major commercial, residential, and hotel projects, with a unique ability to merge superior execution with advanced hospitality standards and sustainable industrial building practices.

Eng. Ahmed Atef – Board Member

A seasoned expert In Building Management Systems (BMS) with over 20 years of experience in integrating mechanical, electrical, and electromechanical systems in complex developments.
His experiencee spans banks, hotels, airports, and commercial malls across Egypt, Africa, and the Gulf, with a strong capability in designing integrated operational systems that enhance efficiency, reliability, and performance.