• Transformative Hospitality-tech Company, Blueground, Raises US$20m in Funding
Transformative Hospitality-tech Company, Blueground, Raises US$20m in Funding

Blueground, the hospitality-tech firm that is transforming the experience of big city living, has revealed that it has finished a new funding of US$ 12 million (about AED44 million) from a group of prominent international capitalists, including Dubai-based Jabbar Net Group, VentureFriends, as well as Endeavor Stimulant. The latest investment notes the fourth and also largest round of financing for Blueground, bringing the total investment from worldwide investors in Blueground to nearly $20 million (around AED73.5 million).

The Blueground idea is straightforward, to lease carefully-selected, premium buildings in one of the most desired areas on a tool as well as lasting keep basis to specialists as well as specific travellers. Blueground internal interior decoration team works with individual as well as company property owners - such as Emaar Characteristic, Meraas Holding, Daman Investments, Orra Intl and also others - to update residential properties into best-in-class homes, guaranteeing a premium experience for occupants, as well as enhancing earnings chances for proprietors by using an ensured stable cash-flow to maximise the property's annual return with 100% tenancy guaranteed. The financing has helped Blueground get the depend on and also confidence of popular property management business and also individual owners.

Speaking on the investment announcement, Alex Chatzieleftheriou, Blueground Chief Executive Officer as well as Founder, said: “Over the past five years, the Blueground team has reimagined the professional leasing sector of the real estate market in Dubai and eight other cities in the US and Europe. As demonstrated by the funding, renowned investors who have previously invested in successful start-ups like Souq.com express confidence in our business model and success.”

Amine Housni, Blueground Regional Supervisor for Middle East, added: "Dubai has been just one of the best Blueground markets as well as critical in our rapid development. Having released in Dubai simply two years back, we have developed an excellent portfolio of greater than 300 homes in several of the Emirate's a lot of preferred places, such as Dubai Marina, DIFC, Midtown, as well as others. Our team believe Dubai will certainly continue playing a crucial duty in our future development, and also the brand-new financing will certainly help us sustain this quick development and also relocate us closer towards the goal of doubling our Dubai existence to 600 residential properties over the following year."

Blueground has an enthusiastic vision for growth, with the objective of ending up being the biggest occupant in Dubai in 2019, as well as increasing to more than 50 cities with 50,000 buildings in its around the world portfolio by 2023. Besides Dubai, the business is currently present in New York, San Francisco, Boston, Chicago, Los Angeles, Washington DC, Istanbul, and also Athens.

To learn even more about Blueground, visit https://www.theblueground.com/furnished-apartments-dubai-uae

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