Warehouse Gym, one of the UAE’s largest premium gym operator, has announced a majority investment from Levant Capital, a Middle East private equity firm.
The investment aims to drive Warehouse Gym’s expansion across the GCC region and introduce new fitness solutions.
The MENA fitness market has grown by 30 per cent annually since 2020, with the UAE market valued at £430 million and the Saudi market at £1.3 billion. Gym chains currently represent 60 per cent of the UAE fitness market and 50 per cent in Saudi Arabia, indicating potential for further growth.
Levant Capital invests in UAE’s Warehouse Gym
Warehouse Gym currently operates 10 clubs and plans to expand to 30 clubs over the next four years.
A new 55,000 sq. ft. facility is set to open in Dubai Science Park in Q4 2024, featuring a co-working space, meeting zones, a podcast studio, a restaurant, and various fitness amenities.
Kevin Teixeira, Co-Founder and CEO of Warehouse Gym said: “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.
“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 investment comes as the GCC fitness market remains fragmented, with only 7 per cent of the UAE population and 8 per cent in Saudi Arabia holding gym memberships.
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