RIYADH: Amid Saudi Arabia’s ongoing transformation toward female empowerment under Vision 2030, the Kingdom’s Public Investment Fund has established an integrated company to promote quality of life for women.
Kayanee will focus on future generations’ health and lifestyle through fitness, sportswear, and personal and therapeutic care, as well as nutrition, diagnostics and wellness education.
The PIF-owned company, chaired by Princess Reema bint Bandar Al-Saud, aims to address topics linked to women, such as mental, social and physical health.
The company also aims to reach over 1 million beneficiaries, to help create a thriving society in line with the goals of Saudi Vision 2030.
“Kayanee will serve to expand Saudi Arabia’s SR16 billion ($4.27 billion) fitness and well-being industry. It is a very exciting time for PIF to venture into women’s fitness, wellness, and well-being, and Kayanee is well-positioned to enable the industry through its integrated offering, which will see the company partner with the growing private sector to create a vibrant society,” said Raid Ismail, head of Middle East direct investments at PIF.
In line with Vision 2030, the launch of Kayanee is part of PIF’s goal to unlock the abilities of the emerging sectors, localize technology and enable the private sector.
Additionally, part of the sovereign wealth fund’s strategy is to stimulate the diversification of the local economy and contribute to improving the quality of life.
Kayanee’s customers will be directed to a digital platform that will provide a connection between in-person and online services, in an effort to ensure mass participation.
The company will serve as a catalyst for the rapid growth of health, well-being and fitness in Saudi Arabia, boosting the industry's development through participation with the private sector and across the value chain.
Furthermore, PIF has also established a new sports investment firm on Sunday named SRJ Sports Investments Co. to accelerate the growth of the sector in Saudi Arabia and the MENA region.
“The company will complement other PIF investments in the sports sector, all of which are contributing to a more vibrant society, in line with PIF’s strategy and Saudi Vision 2030,” Ismail said.
SRJ Sports Investments Co. focuses on acquiring and developing new events and intellectual property, commercializing notable competitions, and organizing major global events in Saudi Arabia.
