Lahore-based COLABS, a co-working and entrepreneurship platform, has partnered with Waseel Partners Investments to open its first international centre in Riyadh. The expansion aligns with Saudi Arabia’s Vision 2030, which aims to diversify the Kingdom’s economy and strengthen its startup and innovation ecosystem.
Founded in 2019 by Omar, Ali and Ahmed Shah, COLABS has raised over $3 million from investors including Fatima Gobi Ventures and JS Group. Its Lahore campus spans about 100,000 square feet, housing more than 5,000 professionals and 300 companies across co-working areas, event spaces and podcast studios. The company’s model integrates workspace with accelerator programs, training and access to capital.
The new Riyadh centre will replicate the Lahore setup, offering flexible offices, innovation labs and startup incubation services. It will serve as a base for technology, fintech, logistics and creative startups operating in or entering the Saudi market.
Waseel Partners Investments, a Riyadh-based firm involved in technology and creative economy ventures, will co-develop and operate the facility with COLABS. The collaboration is designed to connect Pakistan’s emerging startup ecosystem with Saudi Arabia’s growing demand for technology, talent and digital infrastructure.
According to MAGNiTT, Saudi Arabia attracted over $1.4 billion in venture funding in 2024, up 33% from the previous year. Pakistan’s startup ecosystem, despite a decline in global funding, continues to rank among South Asia’s most active early-stage markets.
COLABS operates on an asset-light model, expanding through partnerships with investors and landlords. The company plans to open its Riyadh flagship in early 2026, followed by additional sites in Jeddah and Khobar.
The global co-working sector continues to evolve after the bankruptcy of WeWork. COLABS’ model, which combines community-driven workspace with startup support and investor access, is part of a growing regional trend toward sustainable co-working networks.
Pakistani startup COLABS expands to Riyadh with Waseel Partners Investments