The era of the cubicle is over. Millennials’ presence in the job market demands a shift in workspaces to better accommodate them, and the answer?
Why are millennials obsessed with co-working spaces?
The answer to that question might be a bit tricky to navigate, as it stems from a multitude of reasons. Simply, think of the sharing economy that was birthed by the era of millennials. 15 years ago, no businessperson in their right mind would have put any stock in businesses such as Uber, Airbnb or Kickstarter.
But the year is 2019, and Uber is now a public company with a market capitalization of $76 billion. Airbnb is worth at least $38 billion, as per Forbes. The entrepreneurial world has flipped on its head, and business models that seemed bizarre or unrealistic are now billion-dollar cash cows.
Shared workspaces are no different. An outpouring of millennials graduating universities with open-space libraries, co-shared study rooms, and shared amenities in dorm buildings has led to shifting expectations of the office workspace. That open-space study room you shared with classmates while working on a group project? You expect a similar space at your job of choice.
In a sense, the extended time millennials have spent in schools and universities has forever shaped their expectations of workspaces. After all, Pew Research Center has discovered that millennials are set to become the most educated generation in history. It would make sense then why they are carrying the university mentality over to their careers.
But that’s not all. Shared workspaces offer freelance millennials and budding entrepreneurs opportunities to network and socialize. For the startup entrepreneur, they also offer a way to bypass hefty office rental costs by renting desks as per necessity.
Essentially, they’re a win-win in all scenarios for most millennials (except perhaps for those of the introverted inclination).
So where do you find these spaces if you are in the UAE or Saudi Arabia?
The shared workspace fad that swept the West has made its way to the GCC, and the UAE and Saudi Arabia now have their own premier venues for co-working.
According to a recent study by International Workplace Group (IWG), 60% of UAE workforce skip the office to work elsewhere and over 50% do so for at least half of the week, heralding a major reassessment of corporate real estate.
Below is a list of some notable names in the shared workspace field, in no particular order:
(prices sourced from Coworker.com)
1. NEST Dubai
Where: Al Saef 1 Street, 1st Floor, Barsha Heights, Dubai, United Arab Emirates
What they’re saying: NEST is one of the world’s first fully integrated coworking spaces within a worldwide branded hotel. Designed to fit the needs of the modern worker, we offer a comfortable and flexible workspace that inspires and supports the need for networking and productivity.
AED 99 / day / per desk
AED 1400 / month / per desk
Where: 701 7th Floor, 701, Dubai, United Arab Emirates
What they’re saying: Bureau Dubai is a co-working space and community for people who want to work on their own projects while exchanging knowledge, ideas, and inspiration with others.
AED 80 / day / desk
AED 350 / week / desk
AED 1000 / month / desk
AED 3000 / month / dedicated desk
Where: 3001/Level 30, One Sheikh Zayed Road – Dubai , Level 30, The H Hotel , Dubai, United Arab Emirates
What they’re saying: Imagine an environment without the stuffiness of a corporate office space but still more structure than your home office. Sounds perfect, right? That’s what we at The Executive Lounge have created with creative coworking offices for rent.
Allowing fewer formalities and distractions, and more productivity. Being surrounded by other hardworking professionals like you can also give you that extra boost of motivation. You’ll also have access to our professional amenities like fully equipped conference rooms that will help you make the right impression all while increasing your efficiency.
AED 150 / day / desk
AED 750 / week / desk
AED 2500 / month / desk
AED 3000 / month / dedicated desk
What they’re saying: The combination of a well-designed work environment and a well-organized work experience are part of the reason why Servcorp Coworking clients seem to love our spaces. Unlike our competitors, we provide our clients with our 5 star business addresses to register their business, a receptionist to answer calls in their company name, and a landline number totally provisioned by us – all in a sophisticated shared space with great views saturated in natural light.
Starting SAR 400 / month / desk
Starting SAR 1200 / month / dedicated desk
Where: 6957 King Abdul Aziz Branch Road, Office 15&14, Riyadh, Saudi Arabia
What they’re saying: Upscale is a collaborative coworking space that cares about connecting, advising & enabling creative individuals & entrepreneurs. We bring added-value. We encourage, incubate, advise, support & unleash potentials to ignite in the business world.
SAR 60 / day / desk
SAR 400 / week / desk
SAR 995 / month / desk
SAR 2686.5 / 3 months / desk
SAR 5074.5 / 6 months / desk
SAR 995 / 1 month / dedicated desk