COLABS launches Riyadh workspace campus backed by leading regional investors

By PR Newswire April 23, 2026

Community-led workspace platform targets rising demand from startups and SMEs in Saudi Arabia
A bridge between Saudi and Pakistani ecosystems, COLABS will help companies launch, scale, and operate through COLABS’ business support platform.

RIYADH, Saudi Arabia, April 23, 2026 /PRNewswire/ — COLABS, a Saudi headquartered community-led workspace platform backed by regional investors, has launched a 4,000 sqm campus in northern Riyadh, marking its entry into Saudi Arabia as competition grows to serve the Kingdom’s expanding startup and SME sector.

COLABS has raised more than $8 million to date from investors including Shorooq, Waseel Partners, Zayn VC, Indus Valley Capital, Fatima Gobi Ventures, and other regional backers. This marks the beginning of COLABS international expansion. The company aims to become the largest workspace provider for startups and scaleups in the Middle East, North Africa & Pakistan, over the next few years.

Located in Al-Narjis, COLABS Narjis is designed to accommodate more than 500 members, including early-stage startups, scaling companies, and enterprise teams. The campus forms part of the company’s broader strategy to create work environments that combine thoughtfully designed space, curated networks, and year-round programming.

The launch event drew more than 300 attendees, including founders, investors, policymakers, and members of the creative industries. Speakers included representatives from BECO Capital, Shorooq, 500 Global, Sotheby’s, and Aqar.

“Saudi Arabia represents a significant long-term market for us,” said Omar Shah, CEO of COLABS. “Our focus is on building environments where ambitious companies can work more effectively and where networks strengthen over time.”

Faisal AlRashed, Managing Partner at Waseel, said “the partnership reflects deepening economic ties between Saudi Arabia and Pakistan and highlights the potential for greater cross-border collaboration across the region.”

Through their curatorial initiative, COLABS Creative Collective (CCC), art, design, and culture are embedded into the COLABS experience, reflecting the shared Saudi–Pakistan Islamic cultural heritage. With local partners such as the Abdul Monem Arts Foundation and Noura Arts, the platform brings together artists from both countries through initiatives like the “Love Across Borders” series by Zahid Mayo and Ola Hejazi, alongside engagements across Lahore and Jeddah.

Beyond entrepreneurship, COLABS is committed to promoting culture, art, and music—deepening the cultural connection between Saudi Arabia and Pakistan.

The campus includes event space for more than 200 people, a rooftop terrace, a podcast studio, and more than 10 meeting rooms, alongside amenities such as a daycare facility and on-site café. COLABS said it will also run a year-round calendar of programming designed to foster interaction among founders, investors, and operators.

COLABS currently operates more than 500,000 square feet of workspace across more than 10 locations, supporting over 5,000 members and 300 companies

About COLABS

COLABS develops and operates workspace campuses designed for startups, SMEs, and enterprise teams, combining physical infrastructure with curated communities and programming. It is supported by regional investors including Shorooq, Waseel Partners, Fatima Gobi Ventures, and Indus Valley Capital, alongside strategic operators across venture and real estate.

Through its campuses, COLABS brings together founders, operators, investors, and creatives into environments designed for focused work and consistent progress. COLABS works alongside 250+ partners across the ecosystem, such as EY, Digital Ocean, Canva, Coca Cola, Spotify, and Endeavor.

For more information, please visit https://www.colabs.sa/

About Waseel Partners

Waseel Partners is a Saudi privately owned investment group with a regional mandate, boasting a well-diversified portfolio of holdings across the GCC and the broader Middle East. Waseel Partners Investment’s strategic focus spans a range of sectors including capital markets, private equity, venture capital and acquisitions. Key industry focus includes food & beverage, finance, medical, technology, entertainment, hospitality, real-estate and automobile.

For more information please visit: https://waseelinvest.com

About Shorooq

Founded in 2017, Shorooq is the leading alternative investment manager across the Middle East and North Africa regions. The firm’s venture capital and private credit funds invest in the most innovative technology companies, with deep sectoral expertise in Fintech, Platforms, Software, Gaming, and Web3.0. Shorooq has backed market leading disruptors including Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo.

Since its inception, Shorooq was built on the principle of being founders’ partners, company builders and value investors. Shorooq is a pan regional firm with direct and indirect presence across Abu Dhabi, Dubai, Riyadh, Egypt and Korea.

For more information please visit: https://www.shorooq.com

Photo – https://mma.prnewswire.com/media/2964468/COLABS_1.jpg

Photo – https://mma.prnewswire.com/media/2964469/COLABS_2.jpg