Over the last few years, with the recent focus on fighting obesity and encouraging more active living across the Kingdom, Saudi Arabia has seen the mushrooming of health-centric institutions, particularly female-only fitness centers. One popular choice for women in the Kingdom over the last year has been NuYu, a chain of boutique women’s fitness facilities founded by Princess Sara Mohammed bin Naif. Now it seems this renowned Saudi-based chain is set to become even bigger with the help of a Bahraini-based investment management firm.
This week, NuYu announced plans to deploy $67 million to launch over 20 new boutique gyms. According to Arabian Business, Arcapita, which specializes in Shari’ah-compliant alternative investments, is giving this additional capital injection to NuYu to help the fitness center grow its network of gyms from seven to over 30 across Saudi Arabia. The new centers will not only provide women in underserved areas with better access to health and fitness facilities, it will create hundreds of jobs for women as well.
Speaking to the news site, CEO of Arcapita, Atif A. Abdulmalik, said, “We look forward to working in partnership with NuYu, helping it realise its full potential during this exciting period of social change […] The investment in NuYu is underpinned by robust fundamentals and demonstrates our confidence in the long-term growth prospects of Saudi Arabia’s sport and leisure industry. It is also aligned with the Kingdom’s Vision 2030 goals of empowering women and for citizens to lead healthy and active lifestyles.”
Gyms catering to just women have been on the rise since February of this year following a set of reforms by the Kingdom, one which granted licenses for women-only gyms, providing a space and motivate women to get fit. According to CNN, women's gyms in Saudi Arabia previously operated under salon and spa licenses.
