RIYADH, Saudi Arabia – COLABS, Pakistan’s leading venture-backed workspace and entrepreneurial community platform, has announced its expansion into Saudi Arabia with a flagship site in Riyadh, marking a major milestone in cross-border business collaboration between the two countries.
The expansion comes through a strategic partnership with Waseel Investment and renewed backing from existing investor Shorooq Partners, signaling strong investor confidence in COLABS’ regional growth strategy. The move aligns with Saudi Arabia’s Vision 2030, aiming to boost entrepreneurship, job creation, and bilateral investment between Saudi Arabia and Pakistan.
“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. “Riyadh is the natural starting point for our MENA journey — a hub where we can bridge ecosystems, connect founders, and build communities that unite both nations.”
The Riyadh site, currently under development, is the first phase of COLABS’ MENA expansion. The company’s local partnership with Waseel Partners will be instrumental in establishing operations and facilitating the entry of Pakistani startups into the Saudi market.
“This collaboration represents more than an investment; it’s a bridge between two thriving ecosystems,” said Faisal Al Rashed, Director of Investment at Waseel Partners. “Together, we’ll help bring more Pakistani startups and businesses to Saudi Arabia, while opening doors for Saudi entrepreneurs to connect with Pakistan’s growing innovation and talent base.”
Saudi Arabia’s startup ecosystem — the fastest-growing in MENA — attracted over $2 billion in venture funding in 2024, accounting for more than 40% of all regional deals. COLABS’ expansion capitalizes on this momentum, entering a coworking market projected to exceed $1 billion by 2025.
Shorooq Partners, a long-time backer of COLABS, reaffirmed its confidence in the company’s regional strategy.
“The new investment marks our third time backing COLABS,” said Shane Shin, Founding Partner at Shorooq. “Their entry into Saudi Arabia is the start of a much larger regional opportunity.”
Pakistan’s Federal Minister for IT and Telecommunication, Shaza Fatima Khawaja, congratulated COLABS on the expansion, noting that it reflects Pakistan’s growing digital footprint:
“Saudi Arabia and Pakistan are deepening their digital ties. COLABS’ expansion is a clear reflection of the Digital Nation Pakistan vision taking shape beyond our borders.”
Beyond its business focus, COLABS plans to foster multicultural collaboration in the Kingdom’s creative economy through initiatives like the COLABS Creative Collective and Artist-in-Residence Programme, supporting both entrepreneurs and artists.
Founded in 2019 in Lahore, COLABS has built a profitable and sustainable model serving 5,000 members across 10 active sites, with startups in its network collectively raising over $1 billion. The Riyadh site will serve as COLABS’ flagship location in the Kingdom and a cornerstone for its MENAP expansion, connecting Saudi capital and corporates with emerging market talent and startups.
