COLABS, Pakistan’s leading venture-backed workspace and entrepreneurial community platform, has announced its entry into Saudi Arabia with its flagship site in Riyadh, a major step that underscores the growing business and investment ties between the two countries.
“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 of COLABS. “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.”
The site, now under development and set to open in the coming months, is the first phase of COLABS’ MENA expansion strategy. The company has also secured additional investment and formalized a local partnership with Waseel Investment, which will play a key role in establishing the Riyadh site.
“We’re thrilled to partner with COLABS on this new chapter,” said 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.”
Saudi Arabia is now the fastest-growing startup ecosystem in MENA, attracting over USD 2 billion in venture funding in 2024 and accounting for more than 40 percent of all regional deals. With the coworking market projected to surpass USD 1 billion by 2025 and a rapidly expanding entrepreneurial base, Riyadh offers a strong foundation for COLABS’ next phase of growth. The local partnership with Waseel Partners follows COLABS’ earlier funding round in October 2024, led by Shorooq and Waad VC.
“The new investment marks Shorooq’s third time backing COLABS, reinforcing its long-term confidence in the company’s regional vision and ability to execute” Shane Shin, Founding Partner, Shorooq. “The team has built one of the most impactful entrepreneurial platforms in Pakistan, and their move into Saudi Arabia is just the start of a much larger regional opportunity.”
Federal Minister for IT & Telecommunication, Ms. Shaza Fatima Khawaja, congratulated COLABS on its expansion to Saudi Arabia. She commented, “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.”
The expansion comes at a key time for Saudi-Pak relations. Adding to the renewed momentum in Pakistan-Saudi bilateral economic ties, with a shared focus on youth development, industrialization and technological collaboration.
COLABS 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. These efforts reflect its mission to create environments that connect business and culture, something the company plans to bring to Saudi Arabia. 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.
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