Flow has expanded to Saudi Arabia, its first international market, with the launch of its co-living community in Riyadh.
The move marks a significant expansion for the startup, which has already established properties in Florida.Â
Flow Narjis, the company’s first Saudi Arabian property, opened with a soft launch in August in the Al Narjis area near Riyadh’s airport.
The development offers 238 furnished apartments, with two- and three-bedroom units starting at 114,000 SAR (approximately $30,400) per year.
The apartments come with different amenities and services including laundry, yoga classes, a gym, a pool, hotel-style housekeeping, and co-working spaces.
The company seems to have made some changes to existing buildings to align with its brand aesthetic, removing traditional gender separations in areas like gyms.
The company has partnered with local private investors for these developments, although Saudi Arabia’s sovereign wealth fund is not involved, according to a Flow spokesperson who spoke with Forbes. It has not disclosed the names of local investors or the terms of the deal.
This expansion comes after Adam Neumann, the controversial co-founder of WeWork, raised $350 million from Andreessen Horowitz (a16z) in 2022 and invested over $1 billion in apartment blocks across the United States.
The Saudi Arabian launch suggests a strategy to tap into the kingdom’s evolving real estate market and its push for economic diversification.
