It involves communities sharing offices and other facilities close to their homes
10 July 2019| Last updated on 10 July 2019
This new trend would cater to professionals seeking privacy, but adequate space for working from home.
The newest residential trend coming to Dubai is the concept of “co-living” - and it doesn't mean living together unmarried with other individuals.
Instead, the concept of "co-living" involves a space where residents live in a community of apartments, but share common spaces like offices or business centres.
Appealing to entrepreneurs and professionals, it offers them access to workspaces closeby to their homes for the ultimate "work from home" experience - without renting an office or commuting to work.
Besides being close to home however, a perk of "co-living" communities allows individuals to work away from home and offers the chance to socialise with like-minded individuals.
Not only does it save the cost of renting an office, but it helps individuals get out of their homes, and aims to increase productivity.
More and more developers have started to launch this initiative as they have found millennials and young professionals favour it, Property Finder said, noting Dubai has seen 902 registered transactions (both off-plan and secondary) for co-living spaces to date.
“We have started and will continue to see this trend grow here.” Lynnette Abad, Director of Research and Data of Property Finder said.
“Not only is it affordable, but it’s also popular with millennials as they want to be part of a community, yet have their own personal space.
“We have also seen some creative schemes with Emaar and DMCC [Dubai Multi Commodities Centre] offering a trade license and residency with a unit within a co-living project. This is an excellent incentive for those with small, home-based businesses or freelancers.”
Where can you find them?
The biggest "co-living" developments currently in the works include Collective, Collective 2.0 and Socio at Dubai Hills Estate.
UNA in Nshama at Town Square is also a co-living project that is complete. KOA’s Canvas project off Mohammad Bin Zayed Road is targeted at millennials too.
- Working in Dubai