Sodic’s Karmell first phase sells out on launch day

Sodic sold all of the units in the first phase of its new residential project Karmell on launch day, according to a press release (pdf). The 240-acre New Zayed compound is inspired by the California town Carmel-by-the-Sea, with the first phase including fully finished two-story modern homes with two designs. Sodic implemented the compound in partnership with the New Urban Communities Authority (NUCA). In Sodic’s 3Q2020 earnings, the developer said it was on track to hit its sales targets this year despite the industry facing challenges thanks to the pandemic.