Sharjah master-developer Arada has announced the acquisition of three major UAE-based gym brands in a deal that will see the group cement its position as the fastest-growing operator in the country’s fitness, sports and wellness sector.
These brands - FitnGlam, The Platform Studios and Fitcode - will now be integrated into Arada’s existing fitness and wellness division, which already operates six Wellfit-branded fitness clubs in Dubai and Sharjah, said the company in a statement.
FitnGlam is the UAE’s first homegrown fitness concept fully dedicated to women’s health and fitness, featuring six branches across the UAE including three superclubs in Dubai and Abu Dhabi.
Launched in 2018, The Platform Studios is an innovative luxury concept featuring a high-end fitness experience; the brand has four locations in Dubai and Abu Dhabi.
Newly launched Fitcode has opened its first facility in Tilal Al Ghaf, with two further locations in the pipeline, and aims to provide wellness for a broader audience with an inclusive approach.
The acquisition leaves Arada’s fitness and wellness division with a valuation of AED1 billion ($272 million) with its four brands now operating a total of 15 flagship and standard-scale gyms and studios across Dubai, Abu Dhabi and Sharjah, featuring a combined membership of 30,000.
A further 11 locations in the immediate pipeline mean that the division will shortly be operating 26 gyms across the UAE, with a total membership capacity of 73,000, it stated.
By the end of 2027, the division is targeting a total of 40 locations with combined membership of 100,000, it added.
On the strategic move, Group CEO Ahmed Alkhoshaibi said: "This new acquisition perfectly positions Arada’s portfolio of gym operators as the locations of choice for UAE consumers as we embark on our next stage of growth, which will include new and complementary ventures in holistic health and wellness."
"The addition of these three fast-growing brands to our existing Wellfit operations matches with Arada’s aim to create spaces that people connect with for happier, healthier and more meaningful lives," he stated.
As part of the acquisition process, industry veteran George Flooks has been appointed as CEO of Arada’s fitness and wellness division.
Alongside 13 years’ experience as the CEO of one of the largest fitness chains in the UAE, Flooks also previously managed and led a portfolio of over 160 clubs across the UK contributing to an annual revenue of AED700 million.
On his new role, Flooks said: "With its award-winning membership experience, an inclusive and family-friendly approach and innovative use of technology, Arada has already established itself as the market leader in this space here in the UAE."
"I look forward to building on the division’s existing achievements, integrating these new exceptional brands and delivering on our ambitious growth strategy," he added.-TradeArabia News Service