Market Size of UAE Flexible Office Space Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Flexible Office Space Market Analysis
The UAE flexible office space market is expected to register a CAGR of approximately 6% during the forecast period.
- The COVID-19 pandemic-induced new work strategies and hybrid arrangements significantly accelerated the rising demand for flexible office spaces in the UAE. An increasing number of startups drove the growth of the flexible office space market as they opted for co-working spaces owing to the increased rent of private office spaces.
- The UAE is considered one of the largest markets for flexible space in the Middle East and North Africa (MENA) region. In recent years, the country has seen the entry of companies like Letswork, Servcorp, and My Office offering shared spaces to corporations and freelancers. Government-run free zones have also offered their own flexible spaces, primarily to attract start-ups and freelancers. Letswork, a UAE property technology start-up, aims to capitalize on the growing demand for co-working spaces and expand its operations across the region.
- Flexible office space in the UAE is surging in demand, not only because of the flexibility it offers tenants but also due to the critical shift in workplace strategy and wellness that it addresses. By incorporating flex space into their portfolios, end-users can better mitigate risk and attract top talent by providing motivating, collaborative, and amenity-rich work environments.
- 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, Dubai is leading the country in terms of supply and demand for flexible office spaces. However, the low level of awareness regarding flexible office spaces is hampering the market's growth. This is attributed to a huge misconception among many SMEs and startups from various industry verticals that flexible office spaces are only for the IT sector, as they mainly work from their devices.
