Market Size of United Arab Emirates Co-working Space Industry
| Study Period | 2019-2028 |
| Base Year For Estimation | 2022 |
| Market Size (2023) | USD 68.68 Million |
| Market Size (2028) | USD 98.41 Million |
| CAGR (2023 - 2028) | 7.46 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
UAE Co-working Space Market Analysis
The United Arab Emirates Co-Working Space Market size is expected to grow from USD 68.68 million in 2023 to USD 98.41 million by 2028, at a CAGR of 7.46% during the forecast period (2023-2028).
- The UAE co-working space market is in its growth stage. According to a 2021 research study conducted by Tide, a UK-based business financial platform, the United Arab Emirates had only 1.74 co-working spaces per 100,000 persons. As per Coworker, an online marketplace listing co-working spaces worldwide, the United Arab Emirates stands at a total of 176 spaces.
- Dubai has been slow to adapt to the new co-working trend, primarily due to its restrictive regulatory framework and complex licensing regime. The majority of the Emirate's large free zones currently offer their flex-space solutions and have placed restrictions on third-party operators entering these key markets, thereby limiting the growth of this sector.
- COVID-19 significantly impacted the market, including the United Arab Emirates. The demand for shared office spaces dropped throughout the lockdown. Huge businesses canceled flexible office memberships to save on costs.
- While some co-working space operators remained open for business, they were mandated to adhere to safety and social distancing measures, which considerably impacted the space allocated for occupants within a shared location.
- However, post-pandemic, businesses are finding ways to avoid big-ticket spending and huge financial commitments. This factor, in turn, may drive the demand for pre-built corporate spaces and lease flexibility. The rising number of SMEs and start-ups across various industries is likely to be one of the key factors for the growth of co-working spaces during the forecast period.
