Font Size
Share this article


Print Friendly Version
04 February 2020
BUSINESS

WeWork, UAE’s Hub71 partner to launch workspaces in ADGM

The building is WeWork’s first location in the UAE and its first members moved in earlier this month

Last month, the firm announced its plans to open second UAE site in Dubai at the OneCentral complex/iStock

by Kudakwashe Muzoriwa

Hub71, Abu Dhabi’s tech ecosystem has officially launched WeWork x Hub71—three floors of beautifully designed workspace offering 1,200 desks for members to innovate, collaborate and connect—in Abu Dhabi Global Market (ADGM), according to local newswire, WAM.

The building is WeWork’s first location in the UAE and its first members moved in earlier this month, including Hub71’s global community of start-ups, venture capitalist firms and tech accelerators.

Ibrahim Ajami, Mubadala Capital’s Head of Ventures and Acting CEO of Hub71, said, “The WeWork x Hub71 community is a fundamental part of our strategy to enable entrepreneurs with differentiated offerings.”

Additionally, four new innovative start-ups—Jordan’s Rizek; UAE’s Sarwa, denarii cash and US-based Securrency—have been admitted into the Hub71 Incentive Programme, bringing the total number of start-ups at Hub71 to 39.

Hub71 will also host 2020 Final Awards Ceremony and Conference for the 13th edition of MIT Enterprise Forum’s Arab Start-up Competition in Abu Dhabi in April. Winning teams will walk away with $120,000 in equity-free funding, training, mentorship, coaching, media exposure and global networking opportunities.

“It is clear that there is a huge momentum building in the capital, particularly in the tech start-up space and our partnership with Hub71 and Mubadala reflects a change in the way that companies, large and small, are choosing to work,” said Riad Thoumas, WeWork’s UAE General Manager.

The firm is continuing to expand its footprint, last month WeWork announced that it would open its second UAE site in Dubai at the OneCentral complex, close to Dubai World Trade Centre. According to its website, with 740 locations in 140 cities across 37 countries, WeWork serves over 662,000 memberships worldwide.

WeWork is an American commercial real estate firm that provides shared workspaces for technology start-ups and services for other enterprises. 

 


RELATED STORIES: Dubai World Trade Centre ADGM WeWork Hub71 Mubadala Capital

MOST READ


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION

OUR BRANDS



CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.