As the ’15-minute city’ notion gets hold, citizens are increasingly looking to live and work in areas with shorter commuting times. Coworking spaces have evolved to respond to this need, providing temporary office spaces with all the existing facilities. Coworking spaces, especially malls, are gaining popularity in the UAE and Saudi Arabia, indicating a shift in workplace choices and how individuals approach their professional lives.
Coworking Spaces In Unconventional Locations
● Historically, office space was centred in commercial areas and independent buildings.
● However, coworking spaces grow into previously untested venues such as malls as work and lifestyle tastes evolve.
● Majid Al Futtaim Group’s recent cooperation with IWG to provide coworking spaces in some of its major malls in Dubai exemplifies this trend.
● Other landlords with large commercial space footprints are exploring similar efforts.
● Indicating a growing realisation of the need for flexible workplaces in various scenarios.
The “15-Minute City” Concept
The ’15-minute city’ thought centers around creating living and working settings that decrease driving times and urge simple admittance to essential assets. Dubai’s new urban designs are consistent with this philosophy, attempting to build interconnected communities where citizens may live, work, and play nearby. This strategy is not unique to Dubai; other city administrations are taking similar steps, indicating a more significant move toward more sustainable and linked urban development methods.
Hybrid Work Culture And Increased Demand
The cross-breed, hard-working attitude that emerged during the Coronavirus plague, which joins remote and office-based work, has contributed to the requirement for collaborating offices. As associations adjust to better approaches to working, the requirement for adaptable work environment arrangements develops. The rebound of interest in collaborating spaces is prodded further by the foundation of new firms in the UAE and the shortage of detached places of business.
Opportunities For Development And Expansion
The emergence of multinational businesses (MNCs) using a ‘hub-and-spoke‘ model in the Middle East creates new potential for the spread of coworking spaces. With regional offices functioning as hubs and direct operations in numerous markets, there is an increasing requirement for adaptable and accessible workspace solutions. Coworking providers, such as IWG, are well-positioned to meet this need by providing flexible lease options and configurable workplace solutions adapted to the changing needs of businesses.
Expansion Strategy And Market Focus
IWG’s aggressive Middle East development ambitions mirror the region’s rising demand for coworking spaces. The UAE, Saudi Arabia, and Egypt have been selected as significant areas for development, with intentions to triple their size over the next two to three years. This quick development demonstrates the growing popularity of coworking spaces as a preferred workplace solution in the region.
IWG is on track for tremendous expansion, with 68 new sites added to its Middle East network in 2023 and a goal of 500 recent locations added over the following five years.
Wrapping Up!
The comeback of demand for coworking spaces in the UAE and Saudi Arabia, including malls, represents a more significant shift in workplace dynamics caused by changing work culture, lifestyle choices, and urban development initiatives. Coworking providers, such as IWG, are well-positioned to capitalize on this trend by providing creative and adaptable workplace solutions that cater to the different demands of the region’s businesses and professionals.
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