Flow, Adam Neumann's Co-Living Startup, Expands to Saudi Arabia with Luxurious Apartments - Forbes Reveals Details
In a groundbreaking move, Flow, the co-living startup founded by Adam Neumann, has opened a stunning compound with 238 luxurious apartments in Riyadh, Saudi Arabia. Forbes has the exclusive details on this exciting development, which includes an Aztec-themed hot chocolate ceremony and chic tote bags emblazoned with the words "holy s— I'm alive."
These fully furnished units start at $3,500 a month and offer hotel-style services like laundry and housekeeping, as well as top-notch amenities such as pools, co-ed gyms (a rarity in Saudi Arabia), and even bowling alleys. Flow is also in the process of constructing three more properties in Riyadh, totaling nearly 1,000 apartments.
This expansion comes on the heels of Flow's earlier properties in Fort Lauderdale and Miami, which offered a more modest but still impressive living experience.
Despite the success of this venture, some may raise eyebrows at Flow's $350 million funding from Andreessen Horowitz in 2022, especially considering Neumann's troubled history with WeWork. Once valued at $47 billion, WeWork's bankruptcy and subsequent acquisition by Yardi for $450 million have left many questioning Neumann's ability to lead a successful venture.
In conclusion, Flow's expansion into Saudi Arabia represents a bold move in the world of co-living and real estate. The luxurious amenities and services offered by Flow are sure to attract residents seeking a high-end living experience. However, potential investors should proceed with caution, given Neumann's past missteps with WeWork. It will be interesting to see how Flow's new properties in Riyadh fare and whether they can avoid the pitfalls that plagued WeWork. Stay tuned for more updates on this fascinating development in the world of real estate and co-living.