PRODUCT NEWS
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| Gold's Gym expands in Saudi Arabia – looks to tap into growing market |
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| 17 Jul 2018 . BY Tom Walker |
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| Facilities include a 10,000sq ft functional fitness area and the club has been kitted out with equipment supplied by Matrix
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US-based fitness franchise Gold's Gym has secured its 10th facility in Saudi Arabia.
The 27,000sq ft, franchised club is located in the south western city of Abha and will be owned by the Batterjee Holding Company – which also owns the other nine Gold's Gym clubs in the country.
Facilities include a 10,000sq ft functional fitness area and the club has been kitted out with equipment supplied by Matrix.
The launch is part of Gold's Gym's plans to strengthen its presence and tap into the opportunities offered by Saudi Arabia's fledgling fitness market.
While still considered to be in its "infancy", the market is expected to grow rapidly following the launch of the government's National Transformation Programme (NTP).
The NTP seeks to get Saudis more physically active, after it was revealed that only about 13 per cent of the population is physically active.
The NTP will see the government throw significant investment behind its ambition to increase the number of active people from 13 per cent to 20 per cent by 2020, and 40 per cent by 2030.
There are currently two main players in the Saudi market: Fitness Time, with just over 100 clubs across the country, and Bodymasters with around 30 clubs in the central/eastern region.
The remainder of the market consists of smaller operations and independent health and fitness clubs.
As a sign that the market is hotting up, the owner of Fitness Time – Leejam Sports Company – this month announced that it will float on the Saudi stock market ahead of plans to expand its portfolio.
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