Dubai is seeing a growing demand for flexible workspaces fully integrated with technology and services from large corporate occupiers, SMEs and entrepreneurs, as part of bigger changes in the GCC office market where co-working spaces are growing at a very high pace. Flexible workspaces will constitute more than 60 per cent of the total office demand in the GCC by 2025. As a NEW sector at WORKSPACE, this sector will showcase an array of solutions from design to concept for new workspaces.
The stats show that the GCC market outlook for co-working spaces is positive, specifying some key findings:
SoftBank, creator of the world’s largest venture capital fund, has raised its stake in WeWork — currently the world’s most recognised brand in co-working — by 25 per cent, to a total of about $10.5 billion.
Proptech accelerated last year with nearly $4 billion invested across the smart buildings sector, and the stage set for an even larger scale of transformation.
A recent report by KPMG states that smart city development in Mena is expected to double to $2.7 billion from $1.3 billion in the next four years.
While the initial enthusiasm for co-working solutions was muted in the region, July saw the launch of the Servcorp Business in Riyadh, which is an entire building offering state-of-the-art and tech-driven co-working facilities across 29,000 sq ft of shared workspace.
Earlier this year saw global business leader Honeywell Building Solutions sign MOUs to implement smart building projects in the UAE.
Join 1000+ exhibitors that use WORKSPACE to connect with new customers: