Mubasher: Bahrain-based Arcapita has announced plans to expand its presence in Saudi Arabia by investing as much as SAR 250 million ($67 million) in a chain of women-only boutique gymnasiums.
These investments will enable the Shariah-compliant investor to raise its NuYu centres in the Kingdom to more than 30 from seven now.
Through its five centres in Riyadh, one in Khobar, and one in Dammam, NuYu will create a large number of job opportunities and benefit from available investment opportunities.
The industry of women-only gyms is expected to grow 30% annually in medium-term during the coming period.
Arcapita is specialised in providing various fiscal services which are compliant with Islamic Sharia to investors in Southeast Asia and the Middle East, as well as it offers services in Singapore, London, and Atlanta.
