The World Class fitness company continues to expand on the back of demand for its facilities. Despite the economic downturn, the wellness industry is prospering in Romania, at least if the company World Class is any guide. In April, it opened its ninth club in the country at America House, and its plans include opening another four. In all, €5m has been set aside for further expansion.
The fitness company has invested €900,000 in America House, a building located on Piata Victoriei, in north central Bucharest, and owned by AEW Europe. “Accommodating a gym in an office building has several advantages,” says Isabelle Clerc, head of asset management for AEW Europe in Central Europe. “Physical activity improves employee well-being and work performance, while also serving as a place where people can interact and network, perhaps even creating new business opportunities.” The deal for the space was brokered by Jones Lang LaSalle.
Another World Class fitness club will be opened in two to three months in Asmita Gardens, a residential compound that’s been in the news recently because of the insolvency proceedings surrounding it. “This is a more industrial-looking club, which covers an area of 1,700 sqm,” says Mikael Fredholm, CEO of World Class International, though this club will include a swimming pool. The investment being made in Asmita Gardens is €1.5m. A 3,000 sqm club in Titan will follow six months later along with a €700,000 club located in the city center: World Class Charles de Gaulle, which will operate inside a small residential block of just 27 apartments.
Its flagship project, however, is the Ice Factory, where work started in June. A more luxurious club, and spread over 4,000 sqm, this one will require an investment of €3m. “Our objective is to open 15 to 20 World Class centers by 2014, including new locations we have already confirmed”, added Fredholm. He says the company grows organically, never taking on debt in order to fund expansion. The current penetration of the fitness industry in Romania is just 0.5 percent of the country’s population.
For more informations about the World Class fitness company visit their web site