Karma Group

Karma Group

Established in 1985, Karma Group is the first property developing company to be established on the South-East coast of Cyprus. Over the past 35 years Karma Group has built strong relationships with its clients through its commitment to integrity, honesty 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 consists of different companies each offering a different set of value-added services to our clients.

Some of these are: Karma Developers, Karma Property Management, Karma Construction, Karma Rentals.

Karma Developers

Karma Developers has been in the market for over 35 years and has completed over 4,000 properties offering diverse investment opportunities in residential and commercial real estate, eligible for the popular immigration programs, such as Cyprus Citizenship and Cyprus Permanent Residency as a result becoming a leading property developer on the East Coast of Cyprus.

Karma Property Management

Karma Property Management, launched in 2003, provides land and property owners with tailored solutions and assistance for all their maintenance and property management needs. Services such as residential cleaning, garden maintenance and landscaping, pool maintenance, pest control and minor construction and repairs are all executed by our experienced professionals, ensuring that homeowners feel safe in the knowledge that their property is taken care of, no matter where they happen to be.

Karma Rentals

Karma Rentals, established in 2003, offers a wide range of properties in some of the island’s most unique prime locations covering the entire spectrum of holiday and long-term rentals.

Karma Rentals also offers additional services to ensure that guests enjoy a carefree holiday. These range from cleaning and laundry services, to airport transports and car hires, as well as tourist information and a 24-hour emergency helpline.

Karma Construction

In 2016 the Group launched Karma Constructions, a company that can undertake the full construction of both simple and complex properties. The company boasts a team of well-trained, highly-knowledgeable professionals, as well as the latest in construction equipment and machinery and all necessary guarantees to undertake any construction project, large or small, for our clients.

Nicolas Karoullas

Nicolas Karoullas


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

Leandra Papantoniou

Leandra Papantoniou

Sales Director

Leandra Papantoniou has over 17 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

Lefteris Souttos

Business Development Director

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.

Pavlos Tsiolakkis

Pavlos Tsiolakkis

Finance & Operations Director

Pavlos Tsiolakkis has been a member of KARMA Group for the last 9 years. He started his career in the Group as a Financial Controller and has gradually grown to his current role as a Finance & Operations Director. Before joining KARMA, he worked for big Accounting Firms as an Auditor.

Pavlos’ main responsibilities in KARMA include financial and business analysis, projects management, and budgets and liquidity evaluation. He holds a degree in Business Administration with a focus on Accounting & Finance and a Diploma from ACCA.

Contact Information

Famagusta (head office)

16 Kennedy Avenue, (Kapparis), 5290 Paralimni, Cyprus

Tel: (+357) 23 730 777
Fax: (+357) 23 730 778
Website: Visit website

  • Leandra Papantoniou
  • Sales Director

  • Direct Tel: (+357) 99 212 662
  • Languages Spoken English, Greek
  • Email
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