Cyprus based startup expands to Dubai — ambitious plan to acquire 150 apartments

Cyprus-based proptech startup Moving Doors, which provides tech-enabled serviced apartments, has announced its official expansion to Dubai, United Arab Emirates, marking a significant step in its international growth strategy.

According to an official announcement, the company will begin operations immediately, focusing on two key areas, generating contacts and acquiring landlords. This will be followed by the launch of serviced apartments by the end of March.

The company said that “Moving Doors has established a strong relationship in Dubai’s real estate sector, ensuring a smooth and efficient process for landlords joining the network”.

It also mentioned that “this collaboration simplifies regulatory steps and streamlines documentation, making it easier for property owners to participate in the growing serviced apartment market”.

“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,” he added.

Moreover, Christodoulou said that “Dubai’s thriving economy and diverse population make it the perfect location for us to introduce our services”.

Meanwhile, Kyrillos Sehata, COO of Moving Doors stated that “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,” he added, noting that “Moving Doors’ expansion to Dubai leverages the company’s established success in Cyprus”.

The company also said that by adapting its proven model to the local market, Moving Doors “is confident in replicating its achievements in the UAE”.

Regarding the first step, generating contacts and acquiring landlords, the company said that “Moving Doors will leverage its expertise in lead generation and relationship building to attract landlords in Dubai”.

In terms of launching serviced apartments, which involves starting with two serviced apartments in Dubai by the end of March, Moving Doors said that its goal for 2024 is to acquire and design 150 apartments by the end of the year.

“These meticulously designed and furnished spaces will cater to the needs of modern travellers, offering flexible booking terms, exceptional services and competitive pricing through Moving Doors’ own proprietary pricing algorithm,” the company concluded.