UAE, EGYPT: Stella Stays, the leading proptech startup disrupting the global residential real estate sector with its innovative business model and key offering of tech-enabled branded residences, announces its expansion into Egypt, introducing a prime location in New Cairo city, through its agreement with Tameer.
The agreement that Mr Mohammed Al Ghussein, Chairman of Stella Stays and Mr Saad Al Wazzan, Chairman of Tameer signed in a ceremony on September 27th, 2022 and will mark the joint endeavour between the two companies to build communities rather than general structures, a new living experience rather than dull spaces, to create life and stories within the development. Through this agreement, Stella Stays aims to disrupt Egypt’s residential real estate sector landscape alongside Tameer, Egypt’s well-established residential developer driving the pulse and progression of the housing market since 1954.
The highly-anticipated Stella Stays AZ Homes, strategically located in a prime spot in the midst of the bustling New Cairo city, is within fifteen minutes from Cairo International Airport, ten minutes from both downtown Katameya and walking distance from the American University in Cairo; making it highly attractive not only foreign travellers and expats but also local residents. In line with Stella Stay’s modern approach, the property will offer ready-to-live, smart apartments with open kitchens, as well as modern recreational and commercial amenities. The project is unique as it encourages an ever-so-inviting, community-driven lifestyle and provides a social neighbourhood where residents enjoy large open kitchens, outdoor deck and lounge, a swimming pool, an outdoor gym, a cinema theatre and co-working spaces. Stella Stays EZ Homes are well-crafted with facilities that fit every lifestyle, all at the residents’ fingertips.
Residents and guests will be able to use the Stella Stays app to navigate the entire journey – from finding, booking and managing their stays, checking in, controlling smart home systems, to ordering a wide range of guest services. Payment terms are flexible and can be made through various methods, including credit, debit cards and crypto payments.
Set to become the world’s most-loved residential hospitality brand, Stella Stays has witnessed global growth and is now present in five markets since its inception only three years ago. The company currently operates in the UAE, KSA, Turkey, Bahrain and Canada with more than 1,000 contracted units, and its latest expansion plan to Egypt is a true testament to the company’s impressive growth trajectory.
To create a global real estate pipeline, Stella Stays uses proprietary algorithms that identify, evaluate, and select the most desirable properties around the world, based on location, financial projection, and trends. The upcoming launch in Egypt solidifies Stella Stays plans to continue expanding operations into other markets to keep up with the ever-growing demand from millennials, Gen Z residents and corporate travellers for its ‘Show Up and Start Living’ concept which has propelled the company forward.
Commenting on the expansion, Mr Mohammed Al Ghussein, Chairman of Stella Stays, said: ”We are very proud of our expansion into Egypt, and we believe that our vision for the future of living aligns perfectly with Tameer to develop lively communities that offer everything the modern residents and travellers would need.”
“We are excited to announce our agreement with Stella Stays in Egypt which will boost both the residential real estate and hospitality sectors. As we continue to cultivate our culture and legacy, we look forward to the future with this strategic move which will enhance the experience for modern travellers, residents, independent trendsetters and everyone in between”, said Mr Saad Al Wazzan, Chairman at Tameer.
