Pakistani coworking startup COLABS to expand operations into Saudi Arabia

“Our expansion into Saudi Arabia marks a defining moment for COLABS as we take what we’ve built in Pakistan to one of the most dynamic markets in the region,” said Omar Shah, CEO and co-founder.

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The Riyadh site will serve as COLABS’ flagship location in the Kingdom and an anchor for its MENAP expansion. Over the long term, the company aims to connect Saudi capital and corporates with startups and talent across emerging markets.

“Saudi Arabia’s Vision 2030 has created incredible momentum for innovation and entrepreneurship. We see Riyadh as the natural starting point for our MENA journey, a hub where we can help bridge ecosystems, connect founders, and build communities that bring both the nations together,“ he added.

The site, now under development and set to open in the coming months, is the first phase of COLABS’ MENA expansion strategy, the company said.

COLABS has also secured additional investment and formalized a local partnership with Waseel Investment, which will play a key role in establishing the Riyadh site.

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The local partnership with Waseel Partners follows COLABS’ earlier funding round in October 2024, led by Shorooq and Waad VC.

According to Faisal Al Rashed, Director of Investment, Waseel Partners. “This collaboration represents more than an investment; it’s a bridge between two thriving ecosystems. Together, we’ll help bring more Pakistani startups and businesses to Saudi Arabia, and open doors for Saudi entrepreneurs looking to connect with talent and innovation across Pakistan.”

In a statement, COLABS noted that Saudi Arabia is now the fastest-growing startup ecosystem in MENA, attracting over $2 billion in venture funding in 2024 and accounting for more than 40 percent of all regional deals.

It said that with the coworking market projected to surpass $1 billion by 2025 and a rapidly expanding entrepreneurial base, Riyadh offers a strong foundation for COLABS’ next phase of growth.

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Federal Minister for IT & Telecommunication, Shaza Fatima Khawaja, congratulated COLABS on its expansion to Saudi Arabia.

“Saudi Arabia and Pakistan are deepening their digital ties and both nations are working closely together to streamline cross-border digital investment. COLABS expansion is a clear reflection of the Digital Nation Pakistan vision taking shape beyond our borders.”

COLABS also noted in its statement that it has built its identity around more than just workspaces, focusing on community through founder support programs and creative initiatives like the COLABS Creative Collective and its Artist-in-Residence programme.

Founded in Lahore in 2019, COLABS serves over 5,000 members from 300 companies and 250 partners across 10 active sites. Startups in its network have collectively raised more than $1 billion in capital, and the platform hosts over 1,000 events each year, welcoming more than half a million visitors.

COLABS is backed by regional venture capital firms including Shorooq, Indus Valley Capital, Fatima Gobi Ventures, Zayn VC, Waad Investment and key angel investors.