Silkhaus Announces UAE Expansion

The proptech enters the nation’s capital to enable landlords and institutional investors to rapidly monetise their apartments

Silkhaus (www.silkhaus.com), a cutting-edge proptech start-up 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. The enterprise will support Abu Dhabi’s ambition of growing the contribution of the tourism sector to its gross domestic product to 12% 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. 

“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 monetise properties. Properties owners on Silkhaus earn on average 20-40% more than long-term rents. With a short-term rental model that 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. Based at Abu Dhabi's Hub71, Silkhaus has inked a deal to be the official accommodation supplier for start-ups in the Hub71 ecosystem. Start-up 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, Silkhaus’ properties have been home to guests from over 120 countries. In 2022, the start-up raised $7.75 million from global investors in one of the largest seed rounds in the region.