UAE: PropTech startup Moving Doors has entered the Dubai market with two luxury units to launch at the end of this month.
Starting with two serviced apartments in Dubai by the end of March, Moving Doors’ goal for 2024 is to acquire and design 150 apartments by the end of the year.
The group has partnered with Land Department Dubai to support expansion.
In January this year, the group also raised €1.1 million in seed funding to facilitate its entry into Dubai. The funding will also support expansion in existing markets such as Cyprus, where Moving Doors has apartments in Limassol, Paphos and Larnaca.
“Today marks a momentous day for Moving Doors as we extend our hand-selected, flexible serviced apartments to Dubai,” said Yiannis Christodoulou, co-founder of Moving Doors. “Our mission has always been to revolutionise the way people live, work, and travel, providing them with unparalleled flexibility, comfort, and convenience. Dubai’s thriving economy and diverse population make it the perfect location for us to introduce our services.”
Kyrillos Sehata, COO of Moving Doors, added: “In just two years of operation, Moving Doors has demonstrated impressive growth, boasting a 300 per cent increase in revenue from 2022 to 2023. This remarkable achievement underscores the company’s strong foundation and ability to scale effectively.”
