Dubai: Why more tenants are opting for co-living spaces

A relatively new concept, it is a place where people interact, and share work space and common areas

Tuoyo Sakpere, a Londoner, is new to Dubai. He did not go through the hassle of hunting for an apartment, signing documents at the real estate office, registering for a utility connection or other rigmaroles involved in signing up for a rented flat in the UAE. He chose a co-living accommodation.

Though a relatively new concept in Dubai, co-living is the place where people interact, share work space and common areas, and get to meet like-minded people.

“I chose co-living because I am new to Dubai and it provides an opportunity to network and meet a lot of other people. This is a new country, so it’s easier to meet people. Convenience and cost are other reasons as apartments are furnished. Then you have a gym, lounge pool, library and many other facilities here. It’s like having everything in one building,” says Sakpere, a freelancer.

Though co-living is similar to the shared housing concept, it’s more organised, legal and controlled by a professional landlord. While shared housing, which is pretty common in the Emirates, is kind of a grey area from a legal perspective.

Home for one, home for all

Sakpere is among hundreds of Dubai residents who have chosen this form of accommodation, which is fast rising in popularity.

Hive JVC, developed by ARM Holding, is a popular co-living project where tenants share all the amenities such as co-working space, rooftop swimming pool, open-air cinema, event amphitheatre, and sports and BBQ facilities among others.

Bass Ackermann, founder of Hive Coliv, which manages Hive JVC, says co-living has been quite popular among young expatriates who are in their late 20s and early 30s.

Flexibility and convenience are key in this concept, he adds. “The fact is that people can just bring their bag and move in without worrying about Dewa, Ejari and furnishing, as rents include everything. And if the tenant has to leave in case of a personal emergency or for any other reason, they can leave with just one month’s notice. It’s plug-and-play.”

Here, he explains all the amenities that can be found in this co-living space:

‘Fairly priced’

Madiyar Ismagulov, another resident of Hive JVC, finds the concept “sweet”. “I met many new people here. It is a nice place to develop yourself and talk to a lot of people. There are a lot of things to do like tennis and swimming etc.”

Ismagulov was living in the same area before he moved to Hive JVC. “I found co-living fairly priced and it’s actually cheaper than my previous residence. My previous residence was more luxurious and 'Dubai-ish', but this one is different; it’s Dh1,500 per month - so more economical.”

Tenants in Hive JVC, which has been designed for people aged 18-plus where bachelors and couples can live without kids, will sign an annual lease agreement, but they will pay on a monthly basis.

“We don’t accept any cheques, so you can pay online. If you need to move, you can cancel at one month’s notice. However, we don’t encourage people to come for a week or two.”

Ackermann suggested that places like Jumeirah Village Circle, Business Bay, Meydan, and Global Village — which are secondary locations but well located — are believed to be quite popular for these kinds of concepts.