Proptech Silkhaus announces UAE expansion with market launch in Abu Dhabi

Entry into the nation’s capital will enable landlords and institutional investors to rapidly monetise their apartments

Press Release
November 8, 2023

  • Silkhaus’ portfolio is set to grow significantly with entry into Abu Dhabi
  • As part of its launch, Silkhaus is partnering with institutional investors in Abu Dhabi and providing Hub71 startups with special offers

Abu Dhabi, UAE: Silkhaus (www.silkhaus.com), a cutting-edge proptech startup dedicated to revolutionising short-term rentals across the Middle East and Asia, has announced its entry into Abu Dhabi. In its two years of operations, the UAE headquartered Silkhaus now operates the largest portfolio of short-term rentals in the UAE.

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 has 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. At the same time, we have 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,” said Aahan Bhojani, Founder & CEO, Silkhaus.

Focused on the $100B+ global short-term rental industry, Silkhaus leverages technology to provide asset owners with infrastructure tools to manage and monetize properties. Properties owners on Silkhaus earn on average 20-40% more than long-term rents.

Silkhaus’ short-term rental model provides both landlords and guests complete flexibility. The company manages every aspect of each asset  from bookings to maintenance, thereby creating a consistent  experience for its guests.

Silkhaus 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 Silkhaus properties. In 2022, Silkhaus raised $7.75 million from global investors, in one of the largest seed rounds in the region. For more information about Silkhaus, please visit www.silkhaus.com.

About Silkhaus

Silkhaus is building the operating system for the short-term rental industry. Its platform empowers property owners with digital tools to monetise and manage their properties as short-term rentals, while providing business and leisure travellers with high quality accommodation experiences. Headquartered in the UAE, Silkhaus was founded in 2021 by Aahan Bhojani, and operates across MENA, South Asia and Southeast Asia. To know more, visit www.silkhaus.com.

 

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