About the
KARMA Group

Established in 1985, Karma Group has grown to become a key player in the Cyprus property industry.

For more than 39 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 5000 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.

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Properties Delivered

History of the KARMA Group Companies

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1985
Karma Developers

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.

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1990
Multiflow

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.

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1998
Karma Hellas

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.

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2003
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.

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2004
Eden Square

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.

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2010
Karma Charity

KARMA Charity was established in 2010 and its main concern is consumer awareness. The charity organises annual events to help vulnerable groups.

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2016
Karma Construction

KARMA Construction was established in 2016 with the goal of undertaking constructions for simple and complex buildings with well trained scientific personnel and machinery.

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2020
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.

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Karma Developers
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
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
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, Property Management 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
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
KARMA Charity was established in 2010 and its main concern is consumer awareness. The charity organises annual events to help vulnerable groups.
Karma Construction
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

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.

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2020

Meet the KARMA Team

Nicolas Karoullas

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.

Our Team

Constantinos Portrait

Constantinos Karoullas

Manager
EDEN GROUP of Restaurants & Bars

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.

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Leandra Papantoniou

Sales Director
KARMA GROUP

Leandra first discovered her passion for real estate nearly 20 years ago starting back in 2004. She started at Karma Group however moved on to work as a real estate agent working with local real estate companies.
She returned to the place she calls home in 2011 as a Sales Executive and has since progressed over the years to her current role: leading, co-ordinating, and organising the Sales & After Sales team of the Group.
Being a valuable member, she is actively part of Strategic decisions of Karma Group to help achieve the goals and visions shared for the future.

Lefteris Souttos

Lefteris Souttos

Business Development & Commercial Director
KARMA GROUP

Lefteris Souttos started his career in the Real Estate Industry in 2006. Academically he holds a BSs in Business Administration from University of New York (Prague Campus), and an MBA in Tourism and Finance from IUKB Sion, Switzerland. Over the years he has had the opportunity to escalate in different roles and responsibilities and joined Karma Group in 2015 where he currently holds the role of Business Development & Land Acquisition Director. Lefteris plays a key role in providing growth and expansion of the Group via identifying potential development opportunities, building strategic partnerships to attract investors, and maintaining trustworthy collaborations.

Elena Vasiliou

Elena Vasiliou

Financial Director
KARMA GROUP
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Andreas Tofias

Financial Controller
KARMA GROUP

As an adept Financial Controller, Andreas have a well-rounded skill set in financial reporting and honed talents in forecasting and cashflow projections. His previous roles have strengthened his capabilities in critical thinking and problem-solving, including a keen attention to detail and accuracy. He is a capable and consistent problem-solver skilled at prioritizing and managing projects with proficiency. In his current role, he contributed communication, time-management, and business improvements. He is a progressive minded and in tune with new developments in his field. He has proven to be effective and collaborative with strong observation talents. He enjoys collective brainstorming sessions to coordinate activities to achieve a common goal.

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Maria Vasileiou

After Sales Manager
KARMA GROUP

Maria Vasileiou is a seasoned After Sales Manager, bringing extensive expertise to real estate. With a background in property management since 2016, Maria excels in overseeing diverse portfolios, ensuring meticulous upkeep. Her commitment to excellence extends into her role as After Sales Manager, where she thrives in providing exceptional post-transaction support. Maria's professionalism, reliability, and strong leadership makes her an invaluable asset, contributing significantly to our organization's success. Her keen eye for detail and dedication to client satisfaction have earned her the trust of both clients and colleagues alike.

Argyro Nikolaou

Argyro Nikolaou

HR Officer
KARMA GROUP

Argyro Nikolaou joined Karma Group beginning of 2023 as an HR Officer to ensure the effective functioning of human resources throughout the organization. She is dedicated to promoting a positive organizational culture and to supporting the well-being of employees. With 5 years of background in human resources, she specializes in recruitment, onboarding, and employee relations. Her expertise lies in developing and implementing HR policies, ensuring compliance, and fostering a collaborative work environment. Holding a master’s degree in human resources from the University of Cyprus, she is passionate about supporting both organizational goals and the professional growth of team members.

Christos Psarras

Christos Psarras

Project Management - Permits Officer
KARMA GROUP

Christos has over 15 years of experience in designing, as well as in the Authorisation and Administration of major construction projects. Christos first joined Karma’s Architectural Department in 2008 where he progressed to becoming the head of the Groups Architect department. Christos decided to take his knowledge further and left the group in 2020 to become a “Health and Safety Supervisor”. With his vast knowledge in all areas of his profession he has now returned to Karma during 2023 to lead the architect department by offering further expertise and growth. He is a certified External Protection & Risk Prevention Services Officer (ΕΞΥΠΠ).

Pavlos Klonis CTO

Pavlos Klonis

Chief Technology Officer
KARMA GROUP

Pavlos Klonis is an experienced professional in the field of technology, with a 20-year career in Computer Science and Software Engineering. Equipped with a master's degree in Computer and Information Science, focusing on Human-Technology Interaction, he used his skills and transitioned into a pivotal role as a project manager over the past decade, specializing in the digital transformation of numerous medium-sized corporations.
Pavlos's expertise lies in orchestrating seamless technological transitions, leveraging his profound insights into the challenges of the software industry. His commitment to innovation and his ability to navigate the evolving landscape have positioned him in an advantageous position in steering companies towards technological excellence.

Georgia Masia

Georgia Masia

Senior Sales Advisor
KARMA GROUP

Georgia had her initial interaction with the Real Estate Market in 2016 by joining Karma Group, commencing her journey as a Sales Administrator & Aftersales Officer. Since then, she has progressed to becoming a valuable Sales Advisor, realizing her passion for sales and finding motivation to develop a strong network of associates and clientele. They have significantly contributed to her growth in the industry. With positive energy, she is always eager to assist clients and associates in achieving their personal and business goals. Her commitment is evident as she provides the best possible property solutions, adept at satisfying even the most demanding requests and needs, thereby further enhancing her success.

yiolanda

Yiolanda Manoli

Senior Sales Advisor
KARMA GROUP

Born and raised on the enchanting island of Cyprus, Yiolanda is driven by a profound love for her homeland. This passion prompted her entry into the Real Estate industry in 2019. As a proud member of the Karma Group sales team, she enjoys the privilege of showcasing Cyprus's authentic charm to people around the globe. Her mission goes beyond transactions; it's about bringing dreams to life, creating memorable moments, and delivering quality crafted with heart.





Claudia Teslovan

Claudia Teslovan

Senior Sales Advisor
KARMA GROUP

Arriving in Cyprus in 2011 for summer holidays, Claudia quickly fell in love with the island, making it her new home. Her Real Estate journey began in 2017, where she discovered her passion for the field. Connecting investors to Cyprus Real Estate has become both her full-time job and hobby. Over the years, she has garnered extensive experience in the industry, working with both national and international markets. Actively participating in international exhibitions and seminars has contributed to her professional growth. A significant part of her journey includes being a valuable member of a robust Sales Team at Karma Group, where mutual motivation has fostered collective strength and growth.

Welcome to
KARMA

It’s with great pleasure that I welcome you at Karma Family!

Established in 1985, Karma Group was the first Developing Company at the East Coast Cyprus after the War of 1974. The Vision of the Founder, Mr. Pambos Karoullas was to create unique residential and commercial developments at the coast which will make the area a destination for locals and international investors, as also as holiday makers who would like to have a home at the most sought-after areas of the East Coast.

Growing up at the East Coast, I have learned that ‘’luxury’’ is the quality of life and necessarily the materials. This is what we want to provide our customers, a new life, a new experience which will create unforgettable memories.

Inheriting the family business in 2009 after the sudden death of the founder, our aim was to create one of the most dynamic group of companies in Cyprus which will not only be related to Real Estate Developments and Construction but also in Hospitality, Tourism and Education having always in mind the principles and values where this Group was built on!

Building strong relationships with our clients, partners and associates was always a key priority and this is something we will always do!

“Good” may be good enough for some, but most of us want more than that. We want to be part of a team whose members, even years later, will be remembered for what they accomplished. We want to go for the best! This is our motivation!

Enjoy the experience!

Sincerely,

Nicolas Karoullas, CEO

Georgia Masia

Senior Sales Advisor 

+357 23 730777

+357 99 212374

 georgiamasia@karma.cy

 www.karmadevelopers.com  |  www.karma.cy

 16 Kennedy Avenue (Kapparis), Paralimni

5290, Cyprus, P.O.Box 33133

 

Yiolanda Manoli

SENIOR SALES ADVISOR 

+357 23 730777

+357 96 216928

 yiolanda@karmadevelopers.com.cy

 www.karmadevelopers.com  |  www.karma.cy

 16 Kennedy Avenue (Kapparis), Paralimni

5290, Cyprus, P.O.Box 33133

 

Claudia Teslovan

SENIOR SALES ADVISOR 

+357 23 730777

+357 96212174

 claudia@karmadevelopers.com.cy

 www.karmadevelopers.com  |  www.karma.cy

16 Kennedy Avenue (Kapparis), Paralimni

5290, Cyprus, P.O.Box 33133

 

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