UAE-based flexible workspace operator Hotdesk has teased out that it is developing a real world asset tokenization. The venture, referenced on the Trendz Podcast, involves a partnership with Al Maryah Community Bank and aims to reimagine commercial real estate ownership and the office market by bridging Web3 and traditional real estate through crypto utility.

The Hotdesk CEO discussed this first-of-its-kind initiative alongside Mohammed Wassim Khayata (CEO, Al Maryah Community Bank), Youssef Salem (CFO, ADNOC Drilling and early Hotdesk investor), and HAMAD AL ALI (Founder of SIGMA and Build Hub), with additional strategic partners and executive team additions to be announced at launch.

Mohamed Khaled shares that Hotdesk has announced a strategic partnership with CHROME to develop AI-powered, data-driven workspaces across the MENA region.

CHROME brings a $4B project portfolio including developments for Microsoft, SAP, Uber, Vodafone, and the IMF, while Hotdesk operates a global platform covering 2,200+ coworking spaces across 75+ countries and 2,200+ cities.

The partnership will create "AI-native coworking environments embedded within corporate offices, mixed-use developments, and coworking spaces", using real-time utilization data and behavioral trends to optimize space planning and operations.

Hotdesk and Virtuzone have partnered to launch the UAE All-Access Pass, a subscription service providing access to over 100 premium office spaces throughout the Emirates. Starting at AED299 (~$89) per month with an unlimited option at AED999 (~$272).

The idea of workspace booking and business formation consulting partnering isn’t new, but the fact they have created this product jointly is what is newsworthy. As workspace becomes more commoditized, we see many signals that joint ventures or co-created product offerings like this might very well be the start of more diversified, but stable revenue streams for operators and industry players such as booking apps.

Mohamed Khaled shares that Dubai-based Hotdesk, has expanded its network to over 2,000 locations across 73 countries and 380 cities worldwide since launching in 2021.

Beyond its booking platform, Hotdesk offers workspace management software for operators and hybrid work management solutions for businesses.

As the booking platform market matures, being able to continually drive supply (people who want flex space) towards demand (people who offer it) is going to become increasingly competitive. So Dubai-based Hotdesk grabbing the .com for the term could be an interesting move.

Although search volume for the term spiked in April 2004 and 2005 (according to Google Trends) there’s def an upward momentum over the last few years. Presents an opportunity to "brand" the word for the platform, but also for operators to increase SEO-focussed posts at the same time.