Reading Time: <, 1 minuteUAE: In order to expand its presence in the GCC, Dubai-based investment firm EightClouds has invested$ 10 million in Next’House, a pleasure hostel company. The hostel model, which was established in Dubai in 2022, has 178 beds in both personal and shared accommodations, with plans to triple the number of beds. Next’House has a guest count of 10,000 on average and is focused on community-oriented areas for modern nomads, freelancers, and travelers. Coliving areas, private rooms, and shared workspaces may be incorporated into the new Dubai location’s high-speed online. Next’House reported that it has identified numerous potential enlargement markets in the UAE, including those in Dubai and Abu Dhabi. Additionally, the company intends to create stores in Qatar, Oman, and Saudi Arabia. With money now in place, the business is focused on “finding the right resources to recycle” under the Next ‘ House company, according to CEO Rayan Hanna in a LinkedIn article. Additionally, the agreement with EIGHTClouds includes collaborations with local businesses to improve visitor activities, such as grooming company Chaps and Co and shop string MORE café. The UAE, and particularly Dubai, is crying out for a wandering type of hotel that accommodates remote workers, according to Oliver Wall, chairman of assets at EIGHTClouds. The hotel industry is incredibly oversaturated, especially with high-end resorts catering to tourists. Short-term lodging services usually charge a premium and don’t offer any additional services. Next’House offers coworking places, health and fitness facilities, as well as on-site cafes and restaurants to hold discussions and build relationships.
