Stella Stays, a UAE-based leading proptech startup disrupting the global residential real estate sector with its innovative business model and key offering of tech-enabled branded residences, has announced its expansion into Egypt, introducing a prime location in New Cairo city, through its strategic partnership agreement with Tameer, Egypt’s residential developer.
The agreement, signed on September 27th, 2022 by Mohammed Al Ghussein, Chairman of Stella Stays, and Saad Al Wazzan, Chairman of Tameer, marked the two companies’ joint endeavor to build communities rather than general structures, a new living experience rather than dull spaces, and to create life and stories within the development. Stella Stays intends to disrupt Egypt’s residential real estate sector landscape in collaboration with Tameer, Egypt’s well-established residential developer that has been driving the pulse and progression of the housing market since 1954.
Stella Stays AZ Homes, strategically located in the heart of the bustling New Cairo city, is fifteen minutes from Cairo International Airport, ten minutes from downtown Katameya, and walking distance from the American University in Cairo, making it highly appealing not only to foreign travelers and expats but also to residents. The property will offer ready-to-live, smart apartments with open kitchens, as well as modern recreational and commercial amenities, in keeping with Stella Stay’s modern approach. The project is distinctive in that it promotes an inviting, community-driven lifestyle and provides a social neighborhood where residents can enjoy large open kitchens, an outdoor deck and lounge, a swimming pool, an outdoor gym, a cinema theater, and co-working spaces. Stella Stays EZ Homes are well-designed, with amenities to suit every lifestyle, all at the residents’ disposal.
What the Stakeholders are saying
Announcing the strategic partnership with Stella Stays, Saad Al Wazzan, Chairman at Tameer said “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 travelers, residents, independent trendsetters, and everyone in between.”
Commenting on the expansion and partnership with Tameer, 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 travelers would need.”
More on Stella Stays Offerings
The Stella Stays app will allow residents and guests to navigate the entire journey, from finding, booking, and managing their stays, to checking in, controlling smart home systems, and ordering a variety of guest services. Payment terms are flexible, and payments can be made using a variety of methods, including credit and debit cards, as well as cryptocurrency.
Stella Stays, poised to become the world’s most-loved residential hospitality brand, has experienced global expansion and is now present in five markets three years after its inception. With over 1,000 contracted units, the company currently operates in the UAE, KSA, Turkey, Bahrain, and Canada, and its latest expansion plan to Egypt is a true testament to the company’s impressive growth trajectory.
Stella Stays uses proprietary algorithms to identify, evaluate, and select the most desirable properties around the world based on location, financial projections, and trends to build a global real estate pipeline. Stella Stays’ plans to continue expanding operations into other markets to meet the ever-increasing demand from millennial, Gen Z residents, and corporate travelers for its ‘Show Up and Start Living’ concept, which has propelled the company forward, are solidified by the upcoming launch in Egypt.
Transforming the residential real estate landscape, Stella Stays continues to build strategic partnerships to bring the globe a new living experience, with plans to expand further to different markets in 2023.