STM Investment launches Kayan City in East Cairo with $3.6bn sales target

Cairo, Egypt - STM Investment has launched Kayan City, a city-scale project of about 40,000 homes in East Cairo, and expects first-phase sales of around $3.6 billion (EGP 200 billion) within five years.

The Egyptian investment group unveiled the city during a site tour, according to a company statement dated 18 October. The site covers more than 22,000 feddans, the traditional Egyptian unit of land, and stretches beside the South 90th Street extension in New Cairo, west of the New Capital.

Phase one has been planned for roughly 250,000 residents, a figure the company expects to climb once later stages are delivered.

Apartments, sold fully finished, start at 85 sq m, while villas start at 230 sq m.

Shady Selim, CEO of STM Investment, said services in the city are being run in parallel with work on new phases. Schools, a university, hospitals, malls and sports clubs are already in operation on site, he said.

The master plan provides three hospitals, plus 18 schools and nurseries teaching both Egyptian and international curricula. Northgate International School, the Egyptian-Japanese School and the Egyptian-German School are among them.

Kayan University sits on about 140 feddans and is organised into six colleges. Leisure and retail plans add five malls and seven sports clubs and facilities, with Kayan Equestrian Club and the Leads, Karma and Kayan clubs on the list.

Plans also allow for two hotels offering roughly 1,000 rooms between them, a central park measuring 80 feddans, 27 places of worship and a public transport system. The company said fast telecoms networks and artificial intelligence applications will support day-to-day city management.

Abdel Rahman El-Gohary, Vice Chairman and Managing Director of STM Investment, said international consultants and specialist operators have been engaged to manage the city and its facilities.

STM Investment has also brought other developers into the project. Mountain View is one, and is building the Grand Valleys residential project inside Kayan City.

Mayan New Cairo, Mayan El Shorouk and Eleven in New Cairo are already part of the group's portfolio, which also spans commercial, educational and sports investments. La Vista, IL Cazar and Hassan Allam are among its partners, and the company's statement also names Al Ahly Sabbour and SuliTech on projects across Greater Cairo and the New Capital.

Elsewhere in Egypt, Talaat Moustafa Group (TMG) Holding reached agreement with the government in October on four mixed-use projects valued at $202.2 billion. The state has also launched an investment zone for Qatari Diar's $29.7 billion Alam Al Roum development on the northwestern coast.

On the other side of the capital, Dubai-headquartered Majid Al Futtaim has started work on a West Cairo business park worth $385 million (EGP 20 billion).