Bahrain Co-Working Office Space Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 18.94 Billion |
| Market Size (2029) | USD 25.65 Billion |
| CAGR (2024 - 2029) | 6.26 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bahrain Co-Working Office Space Market Analysis
The Bahrain Co-Working Office Space Market size is estimated at USD 18.94 billion in 2024, and is expected to reach USD 25.65 billion by 2029, growing at a CAGR of 6.26% during the forecast period (2024-2029).
- Huge businesses cancelled flexible office memberships to save on costs. And while some co-working space operators remain open for business, they are mandated to adhere to safety and social distancing measures, which considerably impact the space allocated for occupants within a shared location. COVID-19 had a significant impact on the Co-Working Spaces marketin the country leading the demand for shared office spaces to drop over the course of the lockdowns.
- However, post pandemic, businesses will find ways to avoid big-ticket spending and huge financial commitments. This, in turn, will drive demand for pre-built corporate spaces and lease flexibility.
- Flexible office spaces including co-working are still at a nascent stage in the region. The current flexible office space landscape is largely dominated by domestic players or niche operators. Certain key global brands are yet to enter the market and others have not introduced their full-service offerings. Occupiers on the other hand are contemplating regulatory and other implications of flexible spaces on their local operations.
Bahrain Co-Working Office Space Market Trends
Increase in Foreign Investment to Boost the Economy
Foreign Direct Investment (FDI) to Bahrain registered a 5.8% increase to BD13.3 billion (USD 34.48 billion) in 2022, as per the provisional results of 2022 FDI statistics.
The statistics showed that the kingdom’s FDI inflows were dominated mostly by electricity, gas steam & air conditioning supply, manufacturing and financial & insurance activities sectors at BD226.8, BD187.1, and BD95.5 million respectively.
Last year the country registered 24 investments, down from a three-year average of 43 investments a decade earlier. However, when measured by capital expenditure, 2022 was Bahrain’s second-best year for FDI over the past decade. It mobilised USD 2.2 Billion worth of FDI, boosted by big clean-power projects from the likes of the UAE’s Yellow Door Energy.
Increase in Millennial Population
Millennials, or those between the ages of 20 and 40, are reshaping the world and demanding new methods of working. Bahrain's real estate business is focusing on altering working and work space demands in order to respond to future needs.
The use of co-working spaces, a shared setting where people doing a variety of vocations can work together and separately inside the same place, is a new way of working that has recently emerged. The spaces are frequently urban and trendy, and they are a far cry from some of the harsher 'cubicle farms' of previous years. They provide freedom, flexibility, and a diverse range of work settings.
Millennials are increasingly entering the workforce, and their presence necessitates a paradigm shift in the workplace. There are 14,000 coworking spaces in operation throughout the world, and by the end of this year, 1.7 million workers, largely millennials, will have taken advantage of the improved working circumstances offered by coworking spaces.
Bahrain Co-Working Office Space Industry Overview
Bahrain co-working office space market is fragmented with lot of companies in office space industry. Some of the major players are Servcorp, Letswork Inc, Space 340, Spire Hub and Regus.
Bahrain Co-Working Office Space Market Leaders
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Servcorp
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Letswork Inc.
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Space 340
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Spire Hub
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Regus
*Disclaimer: Major Players sorted in no particular order
Bahrain Co-Working Office Space Market News
- June 2023: Hope Ventures, the investment arm of Bahrain-based Hope Fund, has joined hands with Seef Properties to launch its co-working space 'HQ' in the kingdom. The HQ, which is spread over a 1,085 sq m area at Seef Mall, is pipelined to officially welcome its tenants starting from this September. It will act as the actual headquarters that brings together entrepreneurs, investors, partners, legislators, and government representatives all in one space, thus creating a network and community that boosts opportunity facilitation in Bahrain.
- In June 2022: Tunisian edtech startup GOMYCODE raised USD 8M to expand across Africa and the Middle East. In addition to Tunisia, GOMYCODE is present in Bahrain, Morocco, Egypt, Algeria, Ivory Coast, Senegal and Nigeria. The startup hopes that the Series A funding will drive its presence in 12 countries, including South Africa, Kenya, Ghana and Saudi Arabia. It also plans to deepen its presence in the countries already present, especially Egypt and Nigeria.
Bahrain Co-Working Office SpaceMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Value Chain/Supply Chain Analysis
4.3 Current Economic and Flexible Office Space Market Scenario
4.4 Insights into Key Flexible Office Space Industry Metrics (Supply, Rentals, Prices, Occupancy (%)/Vacancy (%))
4.5 Insights into Key Trends on Rental and Leasing
4.6 Government regulations and Initiatives in the Industry
4.7 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing number of startups
5.2 Market Restraints
5.2.1 Low Awareness and Privacy Issues
5.3 Market Opportunities
5.3.1 Increasing Investment for Improvement and Diversification of Coworking Space
5.4 Porter's Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Bargaining Power of Buyers/Consumers
5.4.3 Bargaining Power of Suppliers
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6. MARKET SEGMENTATION (Market Size By Value)
6.1 By End User
6.1.1 Personal User
6.1.2 Small Scale Company
6.1.3 Large Scale Company
6.1.4 Other End Users
6.2 By Type
6.2.1 Flexible Managed Office
6.2.2 Serviced Office
6.3 By Application
6.3.1 Information Technology (IT and ITES)
6.3.2 Legal Services
6.3.3 BFSI (Banking, Financial Services and Insurance)
6.3.4 Consulting
6.3.5 Other Applications
7. COMPETITIVE LANDSCAPE
7.1 Overview (Market Concentration and Major Players)
7.2 Company Profiles
7.2.1 Servcorp
7.2.2 Letswork Inc.
7.2.3 Space 340
7.2.4 Spire Hub
7.2.5 Regus
7.2.6 The Startup Factory
7.2.7 Prime Instant Offices
7.2.8 Diwan Hub
7.2.9 Brilliant Lab
7.2.10 Brinc Batelco IoT Hub*
- *List Not Exhaustive
8. FUTURE OF THE MARKET
9. APPENDIX
Bahrain Co-Working Office Space Industry Segmentation
Coworking spaces are essentially shared workspaces. They offer affordable office space for those looking to escape the isolation of a home office or coffee shop. These shared workspaces offer a suite of office-like amenities such as hot-desks, private meeting rooms, kitchens, coffee and more. Often, they also offer a community. Occupants typically are freelancers, entrepreneurs, start-ups and small teams who want to take advantage of a flexible space.
A comprehensive background analysis of the Bahrain Co-Working Office Space Market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. The impact of COVID-19 has also been incorporated and considered during the study.
Bahrain co-working office space market is segmented by end user (personal user, small scale company, large scale company and other end users), by type (flexible managed office and serviced office) and by application (Information Technology (IT and ITES), Legal Services, BFSI (Banking, Financial Services and Insurance), consulting and other services). The report offers market size and forecasts for Bahrain co-working office space market in value (USD) for all the above segments.
| By End User | |
| Personal User | |
| Small Scale Company | |
| Large Scale Company | |
| Other End Users |
| By Type | |
| Flexible Managed Office | |
| Serviced Office |
| By Application | |
| Information Technology (IT and ITES) | |
| Legal Services | |
| BFSI (Banking, Financial Services and Insurance) | |
| Consulting | |
| Other Applications |
Bahrain Co-Working Office SpaceMarket Research FAQs
How big is the Bahrain Co-Working Office Space Market?
The Bahrain Co-Working Office Space Market size is expected to reach USD 18.94 billion in 2024 and grow at a CAGR of 6.26% to reach USD 25.65 billion by 2029.
What is the current Bahrain Co-Working Office Space Market size?
In 2024, the Bahrain Co-Working Office Space Market size is expected to reach USD 18.94 billion.
Who are the key players in Bahrain Co-Working Office Space Market?
Servcorp, Letswork Inc., Space 340, Spire Hub and Regus are the major companies operating in the Bahrain Co-Working Office Space Market.
What years does this Bahrain Co-Working Office Space Market cover, and what was the market size in 2023?
In 2023, the Bahrain Co-Working Office Space Market size was estimated at USD 17.82 billion. The report covers the Bahrain Co-Working Office Space Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bahrain Co-Working Office Space Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bahrain Co-Working Office SpaceIndustry Report
Statistics for the 2024 Bahrain Co-Working Office Space market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bahrain Co-Working Office Space analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
