Qatar Flexible Office Space Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Qatar Flexible Office Market is Segmented by Type (Private Offices, Co-working Spaces, and Virtual Offices) and End User (IT and Telecommunications, Media and Entertainment, and Retail and Consumer Goods). The report offers the market size and forecasts in value (USD billion) for all the above segments.

Market Snapshot

qatar flexible office space market analysis
Study Period: 2018-2027
Base Year: 2021
CAGR: >5 %

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Market Overview

The Qatari flexible office market is expected to register a CAGR of more than 5% during the forecast period.

The impact of COVID-19 on the market was very low. Despite the disruption, the flexible office space market was resilient. Furthermore, the pandemic helped the market to emerge in the virtual office sector, with work from home and hybrid working model strategies.

The market is driven by the increasing demand from startups, real estate, SMEs, consultancies, and others. However, large companies are also moving toward flexible office spaces to enhance their employees’ productivity and reduce operational costs. Furthermore, foreign investments are flowing into the sector, as Qatar provides many investment opportunities in the Middle Eastern region. It attracts businesses from all over the world due to its facilities, flexible services, and digital solutions. In addition, Qatar Free Zone Authority is creating “Free Zone” in the country to attract international occupiers and investors for the development of the sector.

Furthermore, co-working spaces are emerging as a major sector in the market because they provide an environment to build professional relationships and expand business operations. In addition, Doha is leading in the country in terms of supply of and demand for flexible office spaces.

Scope of the Report

A flexible workspace refers to a shared office space or flexispace with several creative desk layouts. Furthermore, this report offers a complete analysis of the Qatari flexible office market, including a market overview, market size estimation for key segments and emerging trends by segments, and market dynamics. The report also offers the impact of COVID-19 on the market. The Qatari flexible office market is segmented by type (private offices, co-working spaces, and virtual offices) and end user (IT and telecommunications, media and entertainment, and retail and consumer goods). The report offers the market size and forecasts in value (USD billion) for all the above segments.

Type
Private Offices
Co-working Spaces
Virtual Offices
End User
IT and Telecommunications
Media and Entertainment
Retail and Consumer Goods

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Key Market Trends

The Supply of Flexible Office Space is Experiencing Growth

The capital of Qatar is emerging as a leader in flexible office space supply. In Q3 2021, total office space supply accounted for approximately 5 million square feet in the country, in which more than 40% of the share is contributed by Doha’s prime commercial districts (including West Bay, Lusail, and Msheireb).

Furthermore, the Lusail district contributes a majority of the new office space construction in the city in Q3 2021. Meanwhile, the demand was driven by high specification buildings with attractive rental prices, greater car parking facilities, and modern infrastructure provisions.

In addition, as the vaccine roll-outs continue, many developers and operators in Doha renewed their work strategies regarding flexible office real estate requirements. Despite the pandemic disruption, many sectors intend to maintain a physical work environment for their employees by offering flexible solutions, such as work from home, hybrid working models, etc., when required. The IT sector, on the other hand, is considering reducing its footprint.

The West Bay district supplied a large share of office space, which accounted for more than 1.4 million square feet in the country, in Q3 2021, followed by Lusail, Al Sadd, Salata/Al Hitm, etc.

qatar flexible office space market trends

Co-working Spaces are Witnessing Significant Growth

The pandemic situation affected the office sector with restrictions and social distancing policies, but now, the sector is recovering. Co-working spaces are emerging as the favorite work spots for startups, new entrepreneurs, and small and mid-sized enterprises (SMEs).

Furthermore, co-working spaces facilitate different kinds of interaction, opening opportunities for networking, collaboration, and idea exchanges in a way that cannot necessarily be replicated in a conventional office environment. These factors are driving the growth of the market.

Doha is leading in providing co-working spaces in the country. In addition, co-working spaces in Doha offer well-designed working spaces with modern decors at affordable membership plans. Some of the major co-working spaces in Doha include RAWQ Business Center, which offers co-working spaces ranging from QAR 700-950 per month, followed by Servcorp Commercial Bank Plaza, Servcorp Doha Towers, etc.

qatar flexible office space market forecast

Competitive Landscape

The Qatari flexible office market is moderately fragmented, with players existing in the flexible office spaces market and many more entering the market to fulfill the rapid demand for casual environment offices. The companies in the market are involved in several growth and expansion strategies, such as strategic partnerships, mergers, and acquisitions, to gain a competitive advantage. Some of the key players in the market include Servcorp, Regus Group Companies, Alliance Business Centers Network, Workinton, etc.

Recent Developments

September 2021: Qatar Development Bank (QDB) (offers financial services) launched a hackathon. The hackathon was held in collaboration with Workinton (the fastest growing entrepreneur in the co-working sector) as the venue partner. This hackathon was held to address many contemporary challenges that aim to unlock the capabilities and innovative ideas of Qatar’s aspiring entrepreneurs, its brightest thinkers, innovators, and businessmen.

August 2021: Servcorp (the leading provider of office spaces, co-working, virtual offices, and meeting rooms) introduced the global concept of co-working to its space in Doha. This co-working space provides small businesses and startups with equal opportunities to emerge as large corporates.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Analysis Methodology

    2. 2.2 Research Phases

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Current Market Scenario

    2. 4.2 Technological Trends

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Government Regulations and Initiatives

    5. 4.5 Brief on Rental Analysis of Flexible Office Spaces

    6. 4.6 Insights into Co-working Startups in Qatar

    7. 4.7 Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

    2. 5.2 Market Restraints

    3. 5.3 Market Opportunities

    4. 5.4 Porter's Five Forces Analysis

  6. 6. MARKET SEGMENTATION

    1. 6.1 Type

      1. 6.1.1 Private Offices

      2. 6.1.2 Co-working Spaces

      3. 6.1.3 Virtual Offices

    2. 6.2 End User

      1. 6.2.1 IT and Telecommunications

      2. 6.2.2 Media and Entertainment

      3. 6.2.3 Retail and Consumer Goods

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Overview (Market Concentration Analysis and Major Players)

    2. 7.2 Company Profiles

      1. 7.2.1 Servcorp

      2. 7.2.2 Regus Group Companies

      3. 7.2.3 Alliance Business Centers Network

      4. 7.2.4 spaceOS Limited

      5. 7.2.5 Workinton

      6. 7.2.6 WeWork Management LLC

      7. 7.2.7 Qatarbiz

      8. 7.2.8 Coworker

      9. 7.2.9 Qatar Office Space

      10. 7.2.10 AllOfficeCenters GmbH*

    3. *List Not Exhaustive
  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

  9. 9. APPENDIX

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Frequently Asked Questions

The Qatar Flexible Office Space Market market is studied from 2018 - 2027.

The Qatar Flexible Office Space Market is growing at a CAGR of >5% over the next 5 years.

Servcorp, Regus Group Companies , Alliance Business Centers Network , spaceOS Limited, Workinton are the major companies operating in Qatar Flexible Office Space Market .

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