Stella Stays, a leading proptech startup disrupting the 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 agreement with top Egyptian developer Tameer.

 

The agreement marks 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, said the statement from Stella Stays. 

 

A key player in the proptech scene, Stella Stays is now present in five markets since its inception only three years ago. The company currently operates in the UAE, Saudi Arabia, Turkey, Bahrain and Canada with more than 1,000 contracted units.

 

Through this agreement, Stella Stays said it 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.

 

"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," remarked its Chairman Mohammed Al Ghussein after signing the deal with Tameer Chairman Saad Al Wazzan.

 

To create a global real estate pipeline, the company 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, stated Al Ghussein.

 

The Stella Stays AZ Homes, strategically located in a prime spot in the midst of the bustling New Cairo city, is within 15 minutes from Cairo International Airport, 10 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, he stated. 

 

"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," he added. 

 

On the strategic tieup, Al Wazzan 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 travellers, residents, independent trendsetters and everyone in between," he added.-TradeArabia News Service