UAE’s DisruptAD invests in Greek startup Blueground

DisruptAD, the venture arm of Abu Dhabi’s sovereign wealth fund ADQ, is making an investment in Blueground, the Greek startup focused on short-term rentals of furnished apartments, with the aim of supporting the Greek company in its expansion to 50 cities worldwide by 2025.

This is the first investment made within the framework of ADQ’s bilateral cooperation with Greece, signed in May 2022, during the official visit of Prime Minister Kyriakos Mitsotakis to the UAE, and concerns Emirati investments in Greece totaling 4 billion euros, in range of sectors such as energy and RES, high technology, the agri-food sector.

Greek economy

Amer Al Ameri, Head of Venture Capital and Technology Investments at ADQ stated that the investment in Blueground reinforces Abu Dhabi’s commitment to promoting key sectors of the Greek economy, within the framework of the fund’s bilateral agreement with Greece. “The success of disruptive technologies, such as the platform developed by Blueground, will act as a catalyst to accelerate the sustainable development of the Greek economy,” he noted. “With its rapidly growing operations in mature real estate markets worldwide, Blueground has a promising journey ahead, which is matched by its strong leadership team and vision for the company,” he added. “Our partnership will enable us to unlock growth opportunities in line with our goal of delivering strong and sustainable financial returns.”

Blueground founder and CEO Alex Hatzieleftheriou said “the investment from DisruptAD will allow us to continue to expand our apartment portfolio around the world, reinventing the way people live by making high-quality apartments available wherever they want, whenever they want. As remote work has created greater flexibility in the workforce, our platform is uniquely positioned to support professionals looking to find a new home in the city of their choice.”

Blueground has grown rapidly since its inception in 2013 and now operates in 26 cities across Europe, North America and Asia, with a portfolio of approximately 8,000 apartments. By the end of 2025, it aims to expand its network of apartments to 35,000 located in 50 cities.