Arcapita invests in KSA-based women’s fitness chain

NuYu is a chain of women-only boutique gyms in Saudi Arabia
Updated 20 October 2018

Arcapita invests in KSA-based women’s fitness chain

Arcapita — a Shariah-compliant alternative investments firm — has invested in NuYu, a chain of women-only boutique gyms in Saudi Arabia.

Arcapita’s capital will help NuYu deploy over SR250 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 Alkhobar and Dammam — to capitalize on the significant market opportunity arising from a landmark decision by the General Sports Authority to grant licenses for women’s 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 women’s fitness market in Saudi Arabia is expected to grow at an annual rate of 30 percent over the medium term. 

Atif A. Abdulmalik, Arcapita’s chief executive, 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.”

Princess Sara Al-Saud, NuYu’s co-founder and creative director, said: “We are delighted to partner with Arcapita to guide NuYu’s next chapter 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. With support from Arcapita, we are excited to be able to accelerate our expansion plans and grow our 6,000-strong membership base. Launching 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, said: “The female fitness segment in Saudi Arabia is virtually untapped with a penetration rate of less than one percent, while having one of the highest revenues per member globally. Given Saudi Arabia’s young and growing population, combined with rising health awareness in the Kingdom, there is significant potential for outsized growth within this highly underserved segment.”


Bentley marks 100 years at Monterey Car Week

Updated 21 August 2019

Bentley marks 100 years at Monterey Car Week

As part of its centenary celebrations, Bentley hosted a number of events during the Monterey Car Week, from Aug. 15 to 18.

To mark the occasion, two models debuted — the new Flying Spur luxury four-door grand tourer, and the EXP 100 GT: A vision of luxury mobility in 2035.

The third-generation Flying Spur sets new standards of driving enjoyment and luxury, showcasing Bentley’s application of modern technology, while integrating the latest British craftsmanship and innovation features.

The new Flying Spur will be the most advanced luxury grand touring four-door available. 

Alongside its totally new and advanced aluminum and composite chassis, it features optional electronic all-wheel steering — a first for a Bentley, coupled with active all-wheel drive and the Bentley Dynamic Ride active anti-roll system powered by a 48V architecture.

The Flying Spur was put on display on Aug. 16 at the Quail — a motorsports gathering and at the Home of Bentley for the remainder of the weekend.

It was joined by the EXP 100 GT concept car, which made its US debut. With the EXP 100 GT, Bentley has reimagined the idea of grand touring for the future.

The EXP 100 GT is pure Bentley, inspired by the company’s deep understanding of the desires of its forward-thinking customers. It embraces artificial intelligence (AI) as a means to reassert the car as a place for creating, experiencing and capturing extraordinary human experiences and emotions.

It displays the future of luxury craftsmanship with a seamless fusion of materials and the intelligent curation of technology. The vehicle’s battery system will power four motors that deliver superior performance. Projected performance figures include a 0-60 mph time of less than 2.5 seconds, a top speed of 186 mph, and maximum torque of 1,500 Nm.

Ahead of the EXP 100 GT’s Americas debut, Bentley launched a new and dedicated app for Apple devices.

Released on Aug. 12, the “Bentley 100 AR” app uses a printable QR code to provide an augmented reality experience of the EXP 100 GT, allowing users to explore the exterior and interior of the concept car. Users can even interact with a virtual version of the car in full scale, by using the app at selected Bentley retailers.

Bentley was a featured marque at Pebble Beach Concours d’Elegance, where numerous classic models competed in Bentley Centennial classes, including Vintage 4 Cylinder, Vintage 6 Cylinder, Derby and Postwar.