The Public Investment Fund (FIP) of Saudi Arabiaone of the sovereign wealth funds largest on the planet, announced today the launch of “Kayanee”, a company dedicated to boosting the exclusively female wellness sector, which currently moves more than US$ 4,000 million in the Arab kingdom.
“Kayanee aims to create many investment opportunities in the fitness and wellness sector in the kingdom, which is currently estimated to be worth more than 16 billion riyals (US$4.264 million)”said the director of the Department of Direct Investments in the Middle East and North Africa at the Public Investment Fund, Raed Ismail, in the official Saudi news agency, SPA.
“The company will dedicate itself to the health and the lifestyle of future generations through six main services, including Fitness, sportswear, personal and therapeutic care, nutrition and diagnosis, healthy eating, as well as health education”the statement detailed.
The company, which aims to take care of everything related to women in its different services, especially in mental, physical and social health, seeks to reach more than one million beneficiaries to “contribute to the creation of a society that is alive and coherent with the objectives of the Kingdom’s Vision 2030”.
This new company intends to expand the investments of the FIP, which yesterday announced the obtaining of a total of 2,234 trillion Saudi riyals (about US$ 595,562 million) during 2022, a year in which it has created 25 new companies, as well as the company of SRJ sports investments, to expand its presence in the sports sector in the Middle East.
The PIF is the investment and savings fund of the State of Saudi Arabia and its impressive fortune comes from oil, an asset in which the Saudis are one of the great powers in the world, but in recent years they have decided to diversify their investments due to expiration future of this energy source.
Among its latest acquisitions are two esports companies with which it formed a group to seek leadership in the sector, or 100% of the companies of the English football club Newcastle United, in 2021.
Source: EFE
Source: Gestion
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