EIGHTClouds Invests $10M to Back Next’House Expansion in GCC
The hostel will feature a beachfront setting that combines a social, relaxed atmosphere with high-end amenities.
Photo from left to right: Oliver Wall, EIGHTClouds director of investments, Rayan Hanna, Next'House founder and CEO, Mark Aitchison, EIGHTClouds founder and CEO, Valentin Venetskiy, Next'House co-founder and COO. Courtesy of EIGHTClouds.
Dubai-based investment firm EIGHTClouds has pumped US$10 million worth of investment in Next’House, a luxury hostel brand aimed at creating community-oriented spaces for digital nomads, freelancers, and travelers. This investment will help Next’House boost its operations in the GCC.
In an interview with Inc. Arabia, EIGHTClouds’ director of investments, Oliver Wall, highlighted the gap Next'House aims to address in the UAE’s hospitality market. "The UAE and in particular, Dubai, is crying out for a nomadic style of accommodation that caters to remote workers," Wall said. "The hotel market is deeply saturated, particularly with high-end hotels targeting tourists. Short-term accommodation providers typically are expensive and provide no additional services. Next'House provides co-working spaces, health and fitness facilities, as well as on-site restaurants and cafes to host meetings and make new connections."
Based in Dubai, Next'House, which was founded in 2022 by Rayan Hanna, currently operates six hostel-style accommodations with shared rooms, and it has an annual guest count of 10,000. Its new location will be more upscale, and is set to include private rooms, more amenities, as well as a focus on co-working spaces.
The new Dubai location will offer a mix of co-living spaces, private rooms, and communal work areas with high-speed internet. By combining elements of a social hostel with the amenities of a boutique hotel, Next’House aims to serve guests looking for both a community and a productive environment.
"Next'House will provide upscale, yet affordable short-term living spaces coupled with co-working spaces in premium locations," Wall said. "These locations are carefully selected based on local amenities, transportation and more importantly, working hubs. Each location will be designed to accommodate the work/life balance that many freelance workers crave."
Since launching in 2022, Next’House has developed a portfolio of 178 beds across private and shared accommodations, with plans to expand bed capacity threefold by 2025. The partnership with EIGHTClouds also includes collaborations with other EIGHTClouds-backed brands, such as Chaps and Co and MORE Café, as well as potential new partnerships with local businesses to further connect guests with Dubai’s culture.
Looking at Next’House’s future in the GCC, Wall shared, "Next'House will grow substantially throughout the UAE, with multiple locations identified in Dubai and Abu Dhabi. Next'House also plans to open new locations in Saudi Arabia, as well as Oman and Qatar."
