Silkhaus, a proptech company, has announced the closure of a multi-million dollar funding round led by Nuwa Capital and Eurasia Capital, aiming to expand in Saudi Arabia and launch a new booking platform.
The company currently manages properties worth $200 million annually, targeting travelers seeking high-quality luxury stays.
The short-term rental market in Saudi Arabia and the UAE is estimated at $2.5 billion, with an annual growth rate of 46%.
Founded in 2021, Silkhaus aims to increase property owners’ returns by 20%-40%.
