Established in 1985, Karma Group has grown to become a key player in the Cyprus property industry.
For more than 35 years, the Karma Group has built strong relationships with its clients, thanks to its commitment to integrity, honesty, and quality. Faithful to its friendly, customer-oriented approach and all-important aftersales care.
Today, the Group has delivered more than 4000 superior properties, and continues to offer enticing new projects, with unique designs, in highly sought-after locations all along the stunning Eastern coastline of Cyprus. Karma Group is made up of a number of companies, each offering a different set of value-added services to our clients.
History of the KARMA Group Companies
KARMA Developers, the first member of KARMA Group, was established in 1985. Today KARMA Developers has flourished by delivering more than 4000 quality properties and is continuing to evoke offering great new projects with unique designs and sought-after locations along the stunning Eastern Coastline. KARMA Developers is considered the leading company of the Group.
Multiflow was established in 1991 and is based in Larnaca, Cyprus. The main activities of the company are providing mechanical engineering studies, designs, installations and maintenance. Since 1991, the company has accomplished more than 2000 public and private projects.
KARMA Hellas was formed to offer turnkey apartments for students, investors and permanent residents right in the centre of Athens. Since 1995, KARMA Hellas has proudly announced several completed evelopments in the capital city of Greece.
Karma Rentals &
Karma Property Management
KARMA Property Management was created to give to our clients the Tender Loving Care to their properties that was needed and help them make the best of their investments by offering a huge range of services including property rentals, maintenance, and cleaning. Since 2003, KARMA property management can undertake any task required by the customers by offering them excellent service, reliable property management and maintenance.
EDEN Square multiplex area, was established in 2004 and today has become a landmark of the tourist and hospitality industry offering tasty local and International Cuisines, amazing cocktails and nightlife entertainment. Eden Square consists of three restaurants, two bars, a children’s playground and a new upcoming elite nightclub.
KARMA Charity was established in 2010 and its main concern is consumer awareness. The charity organises annual events to help vulnerable groups.
KARMA Construction was established in 2016 with the goal of undertaking constructions for simple and complex buildings with well trained scientific personnel and machinery.
The American University of Cyprus
Developing higher education standards in Cyprus, The American University of Cyprus (AUCY), an institution that aims to provide the best-in-class levels of university learning. The vision and the mission of AUCY is to provide high quality standard of education to all Cypriot and non-Cypriot students, supplying them with academic excellence, theoretical and practical and subsequently enabling them to excel in the job market upon graduation. KARMA Group is participating as a partner to AUCY.
Karma Rentals & Karma Property Management
The American University of Cyprus
Focusing on developing higher education standards in Cyprus, The American University of Cyprus (AUCY), an institution that aims to provide the best-in-class levels of university learning. The vision and the mission of AUCY is to provide high quality standard of education to all Cypriot and non-Cypriot students, supplying them with academic excellence, theoretical and practical and subsequently enabling them to excel in the job market upon graduation. KARMA Group is participating as a partner to AUCY.
Meet the KARMA Team
Chief Executive Officer, KARMA GROUP
Nicolas Karoullas has been leading KARMA Group since 2009. He has extensive executive-level management and solid real estate industry experience. As the group’s CEO, he ensures the development of an effective organisational structure and promotion of a positive internal climate.
Under his visionary management, the Group expanded its operation in times of financial crisis, increased its turnover by 50% and delivered the biggest project in Famagusta Region: the Mythical Sands Resort and Spa. He holds a degree in Business Management and is an active member of the Cyprus Building and Land Development Association and the Famagusta Chamber of Commerce.
Leandra Papantoniou has over 15 years of experience in the real estate market. She started as a real estate agent working in local companies and selling to many clients including KARMA Developers.
In 2011, she joined KARMA Group as a Sales Executive and have progressed and grown over the years to her current role: leading, co-ordinating and organising the Sales team.
She has handled many important projects such as Joint Venture co-operations and have managed to build longlasting relationships which have led to further investments for the Company.
Lefteris Souttos has been working for KARMA Group since 2014. He has over 10 years of experience in the real estate sector.
His expertise focuses on Sales, Marketing and Business Development in international markets such as the UK, Russia, Iran, China, the Middle East.
As a Business Development Director, he is in charge of the promotion of KARMA Developers and the global expansion of its business. Lefteris holds a degree in Business Administration and an MBA with dual concentration in Tourism and Finance.
Demetra Lili had over 32 years of accounting experience in local firms before joining the KARMA Group. She joined KARMA Group in 2008 as an accountant for the EDEN SQUARE group of restaurants and was later promoted to her current position of Chief Accountant of the KARMA Group. Currently in charge of the KARMA Group accounts team and its activities, as well as handling payments, accounts, audits, payroll, and banking affairs of the KARMA Group, she also is the coordinator between Joint Ventures of the company.
After working as an auditor in KPMG and as a lecturer of finance in universities, Ms. Vassiliou made an interesting career turn, joining the KARMA Group to manage KARMA Property Management.
In her words, "It is all about taking care of investments."
KARMA PROPERTY MANAGEMENT
Constantinos Karoullas joined KARMA Group in 2010 as an Assistant Manager of EDEN Square. In 2014 he took over the role of the complex General Manager. He oversees the overall organisation and coordination of the restaurants together with the Line Managers, Financial Department and other stakeholders. His aim is to constantly improve EDEN Square product and results. Constantinos holds a degree in Financial Accounting.
EDEN GROUP of Restaurants & Bars