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Silkhaus Expands to Saudi Arabia after New Investment Round

Silkhaus Expands to Saudi Arabia after New Investment Round
Image Source: Silkhaus
  • Silkhaus, a prop-tech company transforming the short-term rental market in the Middle East and Asia, announced that it has closed a multi-million dollar funding round.
  • The new funding will help the company expand into Saudi Arabia and launch its booking platform.

UAE-based prop-tech startup Silkhaus secured a seven-figure investment round led by Nuwa Capital and Oraseya Capital. Impulse International, Yuj Ventures, Nordstar, and other investors are among the main supporters of this investment.

The company’s expansion into Saudi Arabia was possible after this new funding, and it is now open for bookings. Silkhaus provides travelers with a variety of accommodation options through a platform designed for short-term rentals.  

The startup was founded in 2021 by Aahan Bhojani. It manages properties across Dubai, Abu Dhabi, and Riyadh with an annual portfolio value exceeding $200 million.

The UAE and Saudi Arabia’s rental market is now expanding by 46% annually. This recent move to Saudi Arabia happened to keep up with the growing demand for short-term rentals in the region. 

In Riyadh, neighborhoods like Al Sahafa and Al Nada are witnessing strong demand for one-bedroom apartments, which have high occupancy rates. 

The announced investment helps Silkhaus pursue its goal of reshaping the short-term rental market and offering better experiences for guests. Since its launch, the startup’s overall booking values ​​doubled year-on-year, and guests from over 120 countries have chosen its properties.

With its platform, Silkhaus is becoming a leading short-term rental company in the GCC, offering returns 20-40% higher than traditional long-term rental models.

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