Today, saw the launch of Hive Coliv, the first built-to-rent real estate development and management company in the UAE exclusively focused on co-living communities. With the arrival of Hive Coliv, Dubai joins the “global living movement” growing in traction worldwide but still nascent in the region, addressing the shortage in affordable and flexible housing solutions for expatriates relocating to the emirate.
Created in partnership with A.R.M Holding, the boutique developer will provide all-inclusive, serviced living solutions with flexibility, convenience and a sense of freedom at its core.
“Living Redesigned”
Hive Coliv is a new way to live unencumbered and stands in contrast to traditional residential models. It upends conventional apartment typology in order to maximize flexibility and convenience for tenants and alleviates the loneliness of metropolitan living thanks to the inevitable social interaction, connection and collaboration between its occupants.
Co-living is gaining ground worldwide with a younger, transient audience looking for a living experience attuned with a contemporary lifestyle. The concept is built on the creation of communities of like-minded tenants benefiting from communal amenities and resources for a more affordable, fulfilling and sustainable way of life.
“Unburdening youth of the trappings of everyday life allows us at A.R.M. Holding to carry out our mission of enabling prosperity. We seek to optimize our partnerships and create synergies rather than redundancies between our investments, and we are happy to break new ground with Hive Coliv particularly as it rounds off and balances Dubai Real Estate Centre’s offering, rendering A.R.M’s own portfolio holistic,” said Mohammed Saeed Al-Shehhi, CEO of A.R.M. Holding and Dubai Real Estate Centre. “Studies show that co-living creates a sense of belonging, that in turn begets a sense of happiness further contributing to Dubai’s ‘happiness agenda and its national programme for happiness and positivity,” continued Al Shehhi.
While co-living is still in its early development stages globally, it represents an entirely new concept to the region. Hive is working to scale the model with further Dubai-based projects in the pipeline and has ambitious expansion plans for the wider GCC region.
Bass Ackerman, Founder & CEO of Hive Coliv said, “We are proud to be at the forefront of developing an innovative living solution to provide young professionals with affordable, flexible and convenient accommodation, thereby eliminating the worry and hassle traditionally associated with rental accommodation. We are confident that our offering will redefine urban rental models and cement Dubai’s position as a leading market in the real-estate industry.”
Hive commenced construction work on its flagship co-living development in Jumeirah Village Circle in July 2020, to be completed end of 2021. The building consists of two basement floors, five floors with 173 residential units and a rooftop with a pool and outdoor cinema. Residents will benefit from communal amenities spread across the entire ground floor including a café, convenience store, coworking facilities, a chef’s kitchen, screening room, gym, wellness rooms, fabrication lab and a pet grooming facility. Residential units are fully fitted with modern, adaptable furniture, a television set, internet, Netflix and other streaming services.
The developer will be providing competitive market rates that do away with expensive brokerage fees as well as flexible and affordable rental packages inclusive of utilities and use of amenities.
Housing as a Service
Hive not only plans to develop co-living communities but has made their management and operation core to its business offering, going beyond housing as a product to housing as a service. The developer is currently assessing a number of management agreements with other real estate developers where it will act in the capacity of a co-living operator.