40 Years of Karma Group – A Timeless Value in Real Estate Development

On Friday, July 4th, 2025, the Karma Group celebrated 40 years of continuous presence and contribution in the fields of land development, construction, property management, and hospitality with a grand anniversary event at the Ayia Napa Marina.

Marking four decades of successful operation and the active involvement of the second generation, Karma Group expressed its sincere gratitude to its partners and clients for their trust and continued support over the years.

Among the distinguished guests who honored the event with their presence were the Deputy Minister of Tourism Mr. Kostas Koumis, the President of the Famagusta District Local Government Organisation Mr. Yiannos Karousos, as well as the Mayors of Paralimni, Deryneia, and Ayia Napa, Mr. Giorgos Nikolettos and Mr. Christos Zannettos, respectively. In their speeches, they praised the Group’s long-standing, multifaceted, and substantial contribution to the progress of the Famagusta District, noting that many of its projects have become modern landmarks, adding significant value to the region.

In his address, the Group’s CEO, Mr. Nicolas Karoullas emphasized that Karma’s stability and success have been built upon the values and vision of its founders, the late Pambos Karoullas and Mr. Pieros Markoullis. With core principles such as integrity, dedication, and uncompromising construction quality, the Group has built relationships of trust with clients and partners, gradually transforming the organization into a true family.

Referring to the Group’s course following the 2013 financial crisis, he noted that Karma adopted a new development direction, investing in sustainable and eco-friendly projects in Famagusta. The Group also expanded significantly into the Limassol and Nicosia districts. Concluding his speech, he highlighted that what consistently defines the Group’s philosophy is a people-centered approach at all levels of operation, fully reflecting the vision behind the message: “Home is where your Karma is.”

The evening concluded with a spectacular musical program, during which attendees enjoyed live performances by Giorgos Tsalikis and Emily Charalambous, closing a night filled with emotion, pride, and optimism for the future.