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FINANCIAL NEWS
Duabi’s Landmark Group unveils Fitness First expansion plan
12 Feb 2013
(MENAFN) Dubai’s Landmark Group, which runs the Middle East franchise of global health and gym brand Fitness First, unveiled plans for a USD150 million expansion drive in the region, Arabian Business reported.
The plan was disclosed after Landmark reported a 33 percent increase in memberships and 30 percent growth in 2012.
The plan envisions a total of 70 clubs across the region by the end of 2015, with new outlets opened in the UAE, Saudi Arabia, Kuwait, Qatar and Turkey this year.
The company has a network of 48 clubs across 38 locations in the Middle East, of which 22 were opened during the last two years.
Landmark will finance the expansion through fresh equity and internal accruals over a three-year period, the company said.
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