Silkhaus

About Silkhaus

Silkhaus is a property technology company focused on the short-term rental market, providing an end-to-end management solution for property owners across the Middle East and Asia. Founded in 2021 by Aahan Bhojani and Ashmin Varma, the Dubai-based firm aims to professionalize and digitize the alternative accommodation sector. The inspiration for the company stemmed from CEO Aahan Bhojani's personal experiences as a management consultant, where he frequently traveled and sought the comforts of a home, a consistent experience that traditional hotel rooms often lacked. This frustration, combined with being unable to exit a Boston apartment lease during the pandemic, highlighted the inflexibility of the traditional real estate model for modern, mobile consumers.

Silkhaus operates a tech-driven platform that serves both individual and institutional property owners, including developers, funds, and REITs. The company's business model is centered on empowering these asset owners to monetize their properties by converting them into hotel-standard accommodations for short-term stays. Silkhaus manages the entire process, from furnishing and property maintenance to bookings, distribution on major platforms like Airbnb and Booking.com, and guest experiences. This comprehensive service allows property owners to generate what the company reports as 20-40% higher returns compared to traditional long-term rentals. Revenue is generated through a performance-based fee on the rental income. For guests, which range from multinational executives to digital nomads, Silkhaus offers furnished apartments with hotel-like amenities and 24/7 digital concierge support for flexible stays.

Since its first listing in Dubai in September 2021, Silkhaus has undergone significant growth, expanding its operations to Abu Dhabi and Riyadh. The company's platform now manages properties valued at over $200 million and has hosted guests from more than 120 countries. This expansion has been supported by substantial funding, including a $7.75 million seed round in 2022 and subsequent seven-figure growth rounds. These investments are fueling further expansion, particularly in Saudi Arabia, to capitalize on a regional short-term rental market estimated to be worth over $13 billion.