UAE-based corporate hospitality company blueground said work has been completed on 150 of its fully-furnished rental apartments located in some of the most popular areas of Dubai and the units are now ready for occupation.
A major player in Dubai, blueground leases and upgrades high-quality properties in the most sought-after locations, and subsequently rents them out to business travelers for mid-to-long term duration.
The company is adding 20 high-quality properties to its portfolio every month in areas such as City Walk, DIFC, the Marina, JBR as well as Downtown, and aims to reach the 500-apartment mark by the end of 2019, said a statement from the company.
Following a successful Series A fundraising earlier this year, blueground has also started operations in New York, with 15 Manhattan apartments already under lease.
Entering more and more new markets, the Dubai-based startup is disrupting the corporate hospitality sector globally, said its top official.
"Our successful experience in Dubai gave us the confidence to expand to the US, where we are already seeing a strong demand for our unique serviced apartment experience," remarked Alexandros Chatzieleftheriou, the chief executive and co-founder of blueground.
In a very competitive real-estate environment, like that of Dubai, blueground has gained the trust of over one hundred apartment owners, since it started its UAE operations in June 2016, he added.
The company offers beautifully furnished and serviced apartments to business travellers and expats, for durations of one month or longer.
It currently offers serviced apartments in the most sought-after locations in Athens, Istanbul, Dubai and New York,
According to him, these investors have rented their properties to blueground because they acknowledge the significant benefits the company offers; long-term and flexible leasing agreements, stable monthly rental income, and complete maintenance management.
Amine Housni, the head of UAE operations and co-founder of blueground, said: "We are very pleased to welcome more and more property owners to our network every month. We strongly believe in Dubai’s long-term potential as the region’s business hub and we will continue to expand our corporate accommodation offering."
Samih Toukan, the chairman at Jabbar Internet Group which participated in the last funding round, said it very impressed by the refreshing synthesis between physical and digital operations that blueground has achieved.
"The company has already made an impact on Dubai’s business traveler market – undoubtedly one of the most important aspects of the city’s economy. blueground’s solution is innovative and its outstanding product, branding, and quick rollout are all testaments of the team’s extraordinary ability to grow the business," he added.
Since 2013, blueground operates more than 600 apartments in Dubai, Istanbul, Athens, and New York, hosting over three thousand business guests. It has raised a total funding of $8.2 million from European, American and Middle East funds.