Glorax Group to spend RUB 3 billion on development of fitness network

Glorax Group to spend RUB 3 billion on development of fitness network

Glorax Group plans to establish its own network of mass-oriented fitness centers. The Company will spend RUB 3 billion on development of the new business area in the Central and Northwestern Federal Districts.

Fashion for a healthy lifestyle is progressively gaining its foothold, but the overall level of sporting activity remains quite low. Experts say that about 6% of Russian population went in for sports as at the beginning of 2015, whereas the figure for the US is 35%.

“We have analyzed the Russian market and settled on the appropriate format. The affordable prices niche is rather flexible and capacious now, unlike much more saturated premium segment. Lower-income format is interesting from the point of both investment attractiveness and social significance. Our concept consists in accessibility of comfortable and quality fitness centers to a wider audience,” notes Andrey Birzhin, Head of Glorax Group.

Currently the search for sites is underway. Glorax Group is focused on acquisition of land plots for construction of fitness centers with floor area of 500-2000 sq. m., but the purchase or acquisition of ready premises is also under consideration. The first fitness centers will be launched within the next two years in Saint-Petersburg, Moscow and Moscow Region.

Moreover, fitness centers in the housing estates constructed by Glorax Development (a subsidiary of Glorax Group) are also to open. Even now the housing estate developer pays a particular attention to a sporting aspect of the projects’ infrastructure.

“Playgrounds and leisure facilities are an integral part of a modern housing estate,” says Dmitry Konovalov, Managing Partner of Glorax Development. “Fitness centers, swimming pools and other sports venues should be available in the infrastructure of new modern buildings. We seek to use every opportunity to create a safe and comfortable environment, where the residents could go in for sports and maintain a healthy lifestyle.”

Glorax Group is already experienced in implementation of sports project. The Group of Companies exercises the management of the sports complex in Sergiev Posad District, which is one of the largest fitness centers in Moscow Region.