Arcapita said the investment will help NuYu grow to over 30 gyms across Saudi Arabia.
Bahrain-based Arcapita has announced that it will invest SAR 250 million ($67 million) to help NuYu to expand in the Kingdom.
In a statement, Arcapita said that the new centres are expected to create hundreds of jobs and provide women access to fitness outlets in currently underserved locations.
The investment will help NuYu to expand across Saudi Arabia from over seven gyms currently to 30, providing women access to fitness facilities in currently underserved locations.
The investment will enable the company – with five boutique gyms in Riyadh and one each in both Khobar and Dammam – to capitalise on the significant market opportunity arising from a landmark decision, following recent legislation allowing Saudi women to drive, and to engage in public sporting events.
Atif Abdulmalik, Arcapita’s CEO, said that the investment in NuYu is aligned with the Kingdom’s Vision 2030 goals of empowering women and for citizens to lead healthy and active lifestyles.