Dubai-based proptech startup Silkhaus operating in short-term rentals across the Middle East and Asia, announced its entry into Abu Dhabi.
The startup has also partnered with institutional investors to grow its asset base and offer to global visitors to the UAE’s capital.
“Abu Dhabi’s vision for the tourism sector is attracting leisure and business travellers from around the world. As the emirate sees increased demand, it is imperative that visitors are able to access alternative accommodation formats to traditional hospitality experiences,” said Founder and CEO Aahan Bhojani.
“We have also seen the development of a fast-growing real estate industry in Abu Dhabi, where owners are seeking to leverage technology and management practices to unlock income on their assets,” he said.
Bhojani said Silkhaus will support Abu Dhabi’s ambition of growing the contribution of the tourism sector to its gross domestic product to 12 percent by 2030.
“As Abu Dhabi seeks to attract over 24 million visitors this year, Silkhaus will leverage technology to provide asset owners with infrastructure tools to manage and monetize properties,” he said.
Silkhaus boosts property owner returns
Silkhaus’s short-term rental model provides landlords and guests complete flexibility. The company claims that property owners on its platform earn on average 20-40 percent more than long-term rents.
The company manages every aspect of each asset from bookings to maintenance, thereby creating a consistent experience for its guests.
The proptech is based at Abu Dhabi’s Hub71 and has inked a deal to be an official accommodation supplier for startups in the Hub71 ecosystem.
Startup founders and their employees in Abu Dhabi will be able to access high-quality accommodations across prime locations in the city, supporting the local entrepreneurial community.
Founded in 2021, guests from more than 120 countries have stayed at the properties, the company said. In 2022, the startup raised $7.75 million from global investors, in one of the largest seed rounds in the region.
Follow us on
