Warehouse Gym, a leading name in the UAE’s premium fitness sector, has recently secured a significant investment from Levant Capital, a prominent private equity firm in the Middle East. This major investment for GCC expansion is poised to empower Warehouse Gym to broaden its footprint across the region, enhancing its offerings and tapping into the burgeoning fitness market.
The investment by Levant Capital aims to accelerate Warehouse Gym’s growth within the GCC market while introducing innovative fitness solutions. The MENA fitness industry has witnessed a remarkable 30 percent annual growth since 2020, with the UAE’s fitness scene valued at £430 million and Saudi Arabia’s market reaching £1.3 billion. Currently, gym chains dominate the landscape, representing 60 percent of the UAE fitness market and 50 percent in Saudi Arabia, suggesting ample room for further expansion.
Levant Capital Invests in Warehouse Gym
Warehouse Gym operates a total of 10 clubs at present, with ambitious plans to increase this number to 30 clubs over the next four years. A flagship facility, spanning 55,000 square feet, is slated to debut in Dubai Science Park in Q4 2024. This new venue will boast a co-working space, meeting zones, a podcast studio, a restaurant, and a comprehensive range of fitness amenities, reinforcing Warehouse Gym’s commitment to a well-rounded fitness experience.
Kevin Teixeira, the Co-Founder and CEO of Warehouse Gym, expressed his enthusiasm about the partnership, stating: “We are thrilled to partner with Levant Capital at this pivotal moment in our story. Their extensive experience and resources will undoubtedly help us scale to new heights and continue delivering exceptional fitness experiences to our growing community.”
He added, “Everything we’ve accomplished makes me proud and excited for the future. I am confident our partnership with Levant Capital will enrich our members’ fitness experience, support our growth, and offer exciting opportunities to our employees.”
The timing of this major investment for GCC expansion comes as the fitness market in the region remains relatively fragmented. Currently, only 7 percent of the UAE population and 8 percent of Saudi Arabia’s population hold gym memberships, highlighting significant opportunities for growth and development in the sector.