COLABS expands to Riyadh, strengthening Saudi-Pakistan business ties with new investment and local partnership

• New partnership with Waseel Investment and renewed backing from Shorooq, underscore investor confidence in COLABS' cross-border vision.
• Aligned with Vision 2030, the expansion aims to accelerate entrepreneurship, create jobs, and attract new investment flows between Saudi Arabia and Pakistan.
• A bridge between Saudi and Pakistani ecosystems, COLABS will help companies launch, scale, and operate through COLABS' business support platform.
• The expansion marks COLABS' entry into Saudi Arabia's creative economy, fostering multicultural exchange and artistic collaboration between Saudi and Pakistani communities.

RIYADH, Saudi Arabia, Oct. 26, 2025 /PRNewswire/ -- COLABS, Pakistan's leading venture-backed workspace and entrepreneurial community platform, has announced its entry into Saudi Arabia with its flagship site in Riyadh, a major step that underscores the growing business and investment ties between the two countries.

"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. "Saudi Arabia's Vision 2030 has created incredible momentum for innovation and entrepreneurship. We see Riyadh as the natural starting point for our MENA journey, a hub where we can help bridge ecosystems, connect founders, and build communities that bring both the nations together."

The site, now under development and set to open in the coming months, is the first phase of COLABS' MENA expansion strategy. The company has also secured additional investment and formalized a local partnership with Waseel Investment, which will play a key role in establishing the Riyadh site.

"We're thrilled to partner with COLABS on this new chapter," said Faisal Al Rashed, Director of Investment, Waseel Partners. "This collaboration represents more than an investment; it's a bridge between two thriving ecosystems. Together, we'll help bring more Pakistani startups and businesses to Saudi Arabia, and open doors for Saudi entrepreneurs looking to connect with talent and innovation across Pakistan."

Saudi Arabia is now the fastest-growing startup ecosystem in MENA, attracting over $2 billion in venture funding in 2024 and accounting for more than 40 percent of all regional deals. With the coworking market projected to surpass $1 billion by 2025 and a rapidly expanding entrepreneurial base, Riyadh offers a strong foundation for COLABS' next phase of growth. The local partnership with Waseel Partners follows COLABS' earlier funding round in October 2024, led by Shorooq and Waad VC.

"The new investment marks Shorooq's third time backing COLABS, reinforcing its long-term confidence in the company's regional vision and ability to execute" Shane Shin, Founding Partner, Shorooq. "The team has built one of the most impactful entrepreneurial platforms in Pakistan, and their move into Saudi Arabia is just the start of a much larger regional opportunity."

Federal Minister for IT & Telecommunication, Ms. Shaza Fatima Khawaja, congratulated COLABS on its expansion to Saudi Arabia. She commented, "Saudi Arabia and Pakistan are deepening their digital ties and both nations are working closely together to streamline cross-border digital investment. COLABS expansion is a clear reflection of the Digital Nation Pakistan vision taking shape beyond our borders."

The expansion comes at a key time for Saudi-Pak relations. Adding to the renewed momentum in Pakistan-Saudi bilateral economic ties, with a shared focus on youth development, industrialization and technological collaboration.

COLABS has built its identity around more than just workspaces, focusing on community through founder support programs and creative initiatives like the COLABS Creative Collective and its Artist-in-Residence programme. These efforts reflect its mission to create environments that connect business and culture, something the company plans to bring to Saudi Arabia. The Riyadh site will serve as COLABS' flagship location in the Kingdom and an anchor for its MENAP expansion. Over the long term, the company aims to connect Saudi capital and corporates with startups and talent across emerging markets.

About COLABS
Founded in Lahore in 2019, COLABS has built a profitable and sustainable model in Pakistan through recurring revenues from flexible workspaces, business solutions, and curated community programs. It currently serves over 5,000 members from 300 companies and 250 partners across 10 active sites. Startups in its network have collectively raised more than $1 billion in capital, and the platform hosts over 1,000 events each year, welcoming more than half a million visitors. COLABS is backed by regional venture capital firms including Shorooq, Indus Valley Capital, Fatima Gobi Ventures, Zayn VC, Waad Investment & key angel investors.

For more information about COLABS and its services, please visit http://www.colabs.sa

About Waseel Partners
Waseel Partners is a Saudi privately owned investment group with a regional mandate, boasting a well-diversified portfolio of holdings across the GCC and the broader Middle East. Waseel Partners Investment's strategic focus spans a range of sectors including capital markets, private equity, venture capital and acquisitions. Key industry focus includes food & beverage, finance, medical, technology, entertainment, hospitality, real-estate and automobile.

For more information please visit: https://waseelinvest.com

About Shorooq
Founded in 2017, Shorooq is the leading alternative investment manager across the Middle East and North Africa regions. The firm's venture capital and private credit funds invest in the most innovative technology companies, with deep sectoral expertise in Fintech, Platforms, Software, Gaming, and Web3.0. Shorooq has backed market leading disruptors including Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo.

Since its inception, Shorooq was built on the principle of being founders' partners, company builders and value investors. Shorooq is a pan regional firm with direct and indirect presence across Abu Dhabi, Dubai, Riyadh, Egypt and Korea.

For more information please visit: https://www.shorooq.com

Shorooq refers to a group of companies that are affiliates of each other and which operate under this business name, of which Shorooq Partners Ltd (regulated by the ADGM Financial Services Regulatory Authority FSRA FSP: 190004 as a category 3C Fund Manager) is a member.

About Ministry of IT & Telecommunication, Government of Pakistan

The Ministry of Information Technology and Telecommunication (MoITT), Government of Pakistan, is the lead institution responsible for driving the country's digital transformation, expanding connectivity, and fostering innovation in the IT and telecom sectors. Through policy reforms, strategic initiatives, and partnerships with public and private stakeholders, MoITT is committed to building a knowledge-based economy, empowering youth and startups, and positioning Pakistan as a competitive player in the global digital ecosystem.

For more information, please visit: https://www.moitt.gov.pk

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