ARCAPITA INVESTS IN - PDF document

1 P RESS R ELEASE ARCAPITA INVESTS IN
P RESS R ELEASE ARCAPITA INVESTS IN NuYu , A LEADING WOMEN’S FITNESS CHAIN IN SAUDI ARABIA  NuYu plans to deploy SAR 250 million to launch over 20 new boutique gyms , creating hundreds of new jobs  Supporting Saudi Vision 2030 goals , NuYu will p rovid e women access to fitness in locations across the Kingdom MANAMA, Bahrain, 15 October 2018 – Arcapita - a global leader in Shari’ah - compliant alternative investment s – has invested in NuYu , a leading chain of women - only boutique gyms in Saudi Arabia . Arcapita’s capital will help NuYu deploy over SAR 250 million ( $67 million ) to grow its network of boutique gyms from seven to over 30 across the Kingdom . The new centers are expected to create hundreds of jobs , as well as provide women access to fitness outlets 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 capitalize on the significant market opportunity arising from a landmark decision by the General Sports Authority to grant licenses for female boutique gyms . This follows recent legislation allowing Saudi women to drive, and to engage in public sporting events . From a base of over 50 facilities nationwide, the female fitness market in Saudi Arabia is expected to grow at an annual rate of 30% over the medium - term. Atif A. Abdulmalik, Arcapita’s Chief Executive Officer, said: “ We look forward to working in partnership with NuYu , helping it realize 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 .” “ NuYu is an industry pioneer in Saudi Arabia , with a strong core team that has established a successful operating

2 model. This , coupled with compelling
model. This , coupled with compelling industry dynamics , provides us with an opportunity to generate attractive returns for our investors .” Princess Sara Al Saud, NuYu ’ s Co - f ounder and Creative Director, said : “We are delighted to partner with Arcapita to guide NuYu’s ne xt chap ter of growth. We have been at the forefront of the fitness industry since our establishment with a boutique offering that focuses on high - energy group classes in a welcoming environment. W ith support from Arcapita, we are excited to be able to accelerate our expansion plan s and grow our 6 , 000 - strong member ship base. L aunch ing new boutique gyms across the country will make it easier for Saudi women to access fitness and reap the benefits of regular exercise.” Martin Tan, Arcapita’s Chief Investment Officer, added : “The female fitness segment in Saudi Arabia is virtually untapped with a penetration rate of less than 1% , while having one of the highest revenues per member globally. Given Saudi Arabia’s young and growing population , P RESS R ELEASE combined with rising health awareness in the Kingdom , there is significant potential for outsized growth within this highly underserved segment .” - E nd s - Photo captions Arcapita 1 - 2 : Atif A. Abdulmalik, Arcapita’s Chief Executive Officer, is looking forward to working in partnership with NuYu and leveraging Arcapita ’s expertise to support the fitness chain in execut ing its network expansion plan Contact Finsbury Scott Melrose Tel: +971544976841 Email: scott.melrose@finsbury.com Arcapita Tariq Hayat Tel: +973 17 218 333 Mob: +973 39 461103 Email: thayat@arcapita.com NOTES TO EDITORS About Arcapita Arcapita is a leading alternative investment manager, with offices in Bahrain, Atlanta, London and Singapore. Arcapita’s principal lines of business are private equity and real estate, and its management has a 20 - year track record of over 80 investments wi th a total transaction value in excess of $30 billion. Further details on Arcapita can be found at www.arcapita.com