Hospitality tech firm OYO adds 2000 apartments in Abu Dhabi

Indian hospitality tech firm OYO Hotels plans to add 2000 apartments in Abu Dhabi to cater to the growing demand for accommodation in the emirate.

The fully furnished apartments by OYO Life will be in areas such as Khalifa City, Al Zeina, Al Raha, Al Reem Island, Al Reef and Al Mushrif. The hotel-booking company said some apartments will be situated in popular tourist destination areas including Sheikh Zayed Grand Mosque, the Emirates Palace, Etihad Towers, Louvre, Ferrari World, Warner Bros World, Yas Waterworld and Sea World.

The ready-to-move-in accommodations provide fully managed long-term housing rental spaces for professionals.

OYO said the new apartments will be in addition to the 750 apartments it is currently offering in Khalifa City, Al Zeina and Al Raha. The company said the expansion aligns with its broader strategy to provide comfortable accommodation in premium properties for guests around the globe.

Professionals living in these units will access a wide range of services such as laundry, food, cleaning, transportation, groceries, discounted furnishings and white home appliances. By providing a diverse range of accommodation choices, OYO aims to meet the varying needs and preferences of expatriates working primarily in the startup sector in Abu Dhabi.

The hotel aggregator said each apartment will be meticulously designed, furnished, and equipped with modern amenities to ensure a comfortable and hassle-free experience for guests. The company said its commitment to quality remains at the forefront of its expansion in Abu Dhabi.

OYO capitalise on a growing demand

OYO plans to leverage on the growing demand for accommodation in Abu Dhabi as more companies move their operations to the city or business-friendly free zones such as the Abu Dhabi Global Market.

The Global Startup Ecosystem Report 2023 said from July 1, 2020, to December 31, 2022, Abu Dhabi created $3.9bn in ecosystem value representing a growth of 134 per cent from the previous period.

Abu Dhabi attracted more than 25 companies, including PolicyBazaar, DealShare, Momos, Raena, Hippo Video, Ultrahuman, India Gold, ClassPlus, Mensa and Expand My Business. “These enterprises have already opted for OYO’s premium apartments as their go-to choice for accommodating their employees in the vibrant city,” OYO said in a statement.

The hotel aggregator said its commitment to quality remains at the forefront of its expansion in Abu Dhabi.

The company said each apartment will be meticulously designed, furnished, and equipped with modern amenities to ensure a comfortable and hassle-free experience for guests. By providing a diverse range of accommodation choices, OYO aims to meet the varying needs and preferences of expatriates working primarily in the startup sector in Abu Dhabi.

OYO filed fresh documents for an initial public offering in India in March amid a challenging market for startup debuts after a plunge in tech valuations. In its original effort to go public in 2021, OYO had filed to raise $1bn.

Read: Abu Dhabi GDP shows 3.9% growth in Q1 2023: SCAD