Flexibility drives demand for co-working spaces in Qatar

Soft music, cozy interiors and decor, soothing surroundings and a coffee shop. Don't get carried away by thoughts of a plush foyer of a five-star hotel; this is the new normal in Doha's working environment, reflecting the metamorphosis in the country’s office market.
It is exactly what Qatar's colourful and vibrant co-working spaces have to offer as an ergonomic solution to the rising demand, especially from millennials as they scout for such unconventional spots that can unleash and enhance their productivity and save on overhead costs.
Co-working is a new style of workspace where people from variegated entities share an open common space rather than work in a private office. It is a better way to work; sharing space with other like-minded professionals not only creates a more dynamic workplace, but it is also a lot more cost effective than a regular office space.
Interestingly, the co-working space helps break the monotony of working from the same place with some of the providers offering flexibility to work from any of their places in Qatar.
"There is plenty of demand for these trendy, alternative places to work from, especially among people who have studied abroad, and there isn’t yet that much offering available," said Pedro Caetano, head of Ecosystem, Vesuvio Labs, who is a client in M7, one of the co-working spaces in the country.
At present, the flexible offices account for around 8% of the total office stock in Amsterdam and around 5% in London.
In Qatar, occupancy is catching up in the co-working sector in view of flexible working models in a post-pandemic world. It is an indicator of growing acceptance due to the proactive approach towards fintechs and other such establishments.
Opportunities are abounding for the sector and appurtenant services in view of the growing entrepreneurship in the fastest-growing economy.
According to reports, the co-working office spaces in Qatar are slated to see a compound annual growth rate in excess of 5% during 2022-2027, driven by the organisations’ drive to strike a balance between productivity and cost optimisation.
This also comes in view of the demand for flexible workspaces, especially among startups, real estate, SMEs or small- and medium-sized enterprises, and consultancies.
Doha is witnessing a surge in demand for flexible office space, which has the potential for higher returns. This is helping not only small and medium-sized businesses find new opportunities but also the millennial generation that finds entrepreneurship more rewarding because of the encouragement and support from the government and other stakeholders.
Qatar Development Bank (QDB), which offers financial services, had in 2021 launched a hackathon, which 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.
Among the key providers of co-working space in Qatar are Servcorp, Workinton, Co-worker, Easy Cowork, Alliance Business Centres Network and Regus.
Australia-based Servcorp is the frontrunner in bringing the co-working space concept to Qatar and it has three locations – Tornado Tower, Doha Tower and Commercial Bank Plaza.
Regus has nine locations - Shourmouk Towers, Al Ghanem Building, Lusail Twin Towers, Alfardan Towers, Al Muntazah Commercial Centre, Bank Street Blue Building, Jaidah Square, D-Ring Road and The Pearl Island.
Smaller suites and serviced office space have been seeing an upward trend in demand as they become more affordable and many businesses can be seen relocating in search of better deals.
The launch of Workinton M7, an intersection of an art gallery and a working space, marks a brand-new concept that will be home to talents in the creative and technology fields. Workinton M7, a creative and tech startup hub opened its fourth co-working space in the heart of Msheireb Downtown Doha last year.
M7, a fusion of art and technology yet not losing the essence of Arabic architecture, has fast become the new place to be for design, innovation and entrepreneurship, dedicated to empowering creative talents to explore, collaborate and grow into successful entrepreneurs.
"Usually I work from the M7 downtown Msheireb branch, but sometimes it is good to change the view for a couple of days, and without further notice, I can work from Workinton’s Lusail or Bank Street branch. That means a lot to me," Caetano said.
The global co-working space market size is expected to reach $19.05bn this year from $16.17bn in 2022, translating into 17.8% CAGR. It is slated to further grow to $34.99bn in 2027 at a CAGR of 16.4%.
According to a recent study, by 2025, flexible workspaces will make up more than 60% of the total office demand in the Gulf Co-operation Council.