MaisonPrive, a Dubai hospitality startup that rents luxury apartments and properties to travelers, says it has raised $4 million from an undisclosed private strategic investor.
It would be the first investment secured by the company, which was formed in 2017 by Rami Shamaa and Paul Mallee, who say MaisonPrive is fully-licensed to operate under U.A.E. law.
Similar to Airbnb, but marketing itself as luxury-oriented, MaisonPrive caters to business travels and tourists looking for short-term rentals in Dubai. The company manages a portfolio of properties on behalf of owners, and offers services such as check-in and check-out, concierge, cleaning and 24/7 support. None of the properties it manages are the personal residences of the owners.
MaisonPrive's technology platform creates professional listings across booking sites such as Airbnb and Booking.com.
The startup’s founders say they’re using the investment to help fund growth plans, as they anticipate tourism numbers in Dubai continuing to rise in the coming three years.
"Dubai is now the world's fourth most visited city. As leisure and business tourism grows, demand for our services will rise. That positions us for rapid growth in the years ahead," says MaisonPrive’s Mallee. The company is on track to at least double the number of properties it manages by the end of the year, according to a press release.
The startup isn’t the only company targeting a market for short-term rentals in Dubai for business travelers and tourists. Another is Blueground. Founded in 2013 in Greece, the startup recently expanded into Dubai and raised a $5.8 million series A round last year.
For its part, Airbnb became legal in the U.A.E. in 2016.