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Fitness First’s Mark Buchanan on its expansion, key trends driving the sector

This year is set to be a landmark one for Fitness First, with plans that not only include the launch of six new clubs across Dubai and Abu Dhabi but also a GCC-wide expansion strategy, says the CEO

Neesha Salian
Neesha Salian

06 February, 2025

Fitness First’s Mark Buchanan on its expansion, key trends driving the sector
Images: Supplied

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We speak to Mark Buchanan, the brand’s regional leader, who shares insights on how Fitness First is evolving to meet the growing demand for integrated fitness and recovery solutions, the role of technology in shaping the future of wellness, and the company’s ambitious plans for 2025.

From AI-driven personal training to state-of-the-art club enhancements, here’s how Fitness First is redefining the fitness landscape in the region.

The fitness industry has evolved significantly over the years. From your perspective, what have been the most notable changes in the fitness sector, particularly in the Middle East, and how has Fitness First adapted to these shifts?

The fitness industry in the Middle East has transformed dramatically over the last two decades, moving from basic gym setups to comprehensive wellness hubs. Today, members expect much more than just access to equipment; they seek an immersive experience that combines fitness, recovery, and holistic wellness. Fitness First has adapted by continuously evolving our offerings.

Recently, we announced the opening of six new clubs. These new facilities include state-of-the-art equipment, outdoor gym areas, swimming pools, cold plunges, treatment rooms and infrared saunas, catering to modern fitness and wellness demands.

We’ve also partnered with LXA, a global design agency, to reimagine our existing clubs, ensuring they provide a seamless and enhanced member journey.

The trend towards health and wellness has grown substantially, with many people now focusing on maintaining a fit lifestyle. How has this shift in consumer behaviour impacted the fitness industry and how businesses like Fitness First are evolving to meet these new demands?

The shift towards a ‘fit lifestyle’ has reshaped the fitness landscape. Members now view fitness as a long-term investment in their overall well-being rather than a short-term goal. This mindset has driven demand for more holistic fitness experiences that integrate mental health, recovery, and nutrition. At Fitness First, we’ve embraced this by introducing wellness programmes, digital fitness solutions, and concept classes like reformer Pilates, yoga, sound healing, functional training and special classes and events. This time of year also sees a surge in memberships, as many individuals set New Year’s resolutions to commit to a consistently fit lifestyle.

The first quarter is always an exciting period for us, with a significant influx of members eager to start their wellness journey, and we ensure our facilities and programs are ready to meet this heightened demand. We’ve also introduced features such as ice baths and recovery zones to address the growing focus on wellness recovery and stress relief.

Additionally, our Innovation Hub allows us to test new fitness programs and equipment based on member feedback, ensuring we stay ahead of evolving demands and provide members with the tools and support to maintain their fitness resolutions year-round.

As a leader in the fitness space, you’ve seen the transition from traditional gyms to a more holistic approach to fitness that includes wellness, recovery and mental health. How has this shift changed the way you operate Fitness First in the Middle East?

This transition has been at the core of our strategy. Fitness is no longer just about physical transformation — it’s about mental clarity, emotional well-being, and recovery. We’ve aligned our offerings to reflect this holistic approach. For instance, we’ve introduced dedicated recovery zones with advanced amenities like infrared saunas, cryo chambers, ice baths, and treatment rooms.

Our clubs are also designed with social and community spaces to foster connections among members. Moreover, we offer mindfulness programmes, guided meditation, and mental health-focused workshops, recognising that mental fitness is just as critical as physical health.

Additionally, we are focusing more on fitness activities like yoga, which provides a holistic approach to overall well-being. Initiatives like World Yoga Day, pop-up workout workshops, and wellness events encourage both members and non-members to engage with their communities and explore new ways of integrating fitness into their lifestyles. By fostering these connections and providing diverse experiences, we aim to support members on every level of their wellness journey.

For busy executives and professionals who are juggling high-pressure careers, work-life balance can often take a backseat. What advice do you have for executives who struggle to prioritise fitness in their daily routines, and how does Fitness First help support them in balancing work and wellness?

For executives, fitness often feels like a luxury rather than a necessity. My advice is to treat it as a non-negotiable meeting with yourself. Even 30 minutes of physical activity can significantly improve productivity, focus, resilience and mental health. Fitness First caters to busy professionals by offering flexible options, including virtual classes and digital fitness programmes that can be accessed on the go. Members have the option to access all our clubs, ensuring convenience no matter where members are at work or home.

Additionally, Fitness First offers state-of-the-art personal training sessions, eliminating the guesswork for members who may not know where to start. These sessions provide tailored guidance, ensuring that even those with limited time can make the most out of their workouts. For those who prefer group settings, our clubs feature a variety of fitness classes ranging from 30 minutes to an hour, which are perfect for quick, effective workouts.

These classes, provide an excellent alternative, making it easier than ever to stay fit while managing a busy schedule.

Fitness First has always been known for its innovative approach. Could you share some of the unique concepts or offerings that have set Fitness First apart from other fitness brands in the Middle East, and how leadership has played a role in driving this innovation?

Innovation has always been a cornerstone of Fitness First’s success. We’ve consistently introduced new concepts that redefine the fitness experience. Recent innovations include outdoor gym spaces, reformer Pilates studios, digital fitness solutions, and the integration of recovery-focused features like infrared saunas and cold plunge pools.

In addition to launching new clubs, Fitness First is committed to enhancing its existing facilities to provide members with an upgraded and seamless fitness journey. These enhancements include revamped layouts, improved space management, and the addition of advanced amenities to ensure a premium experience across all locations.

Our leadership team plays a pivotal role in fostering this innovation by listening to member feedback and staying ahead of global trends.

Initiatives like our Innovation Hub allow us to experiment with new equipment and programmes, ensuring we bring the best to our members.

Additionally, our partnership with LXA ensures our clubs are not just functional but also inspiring environments that members love to visit, creating spaces that truly cater to their evolving fitness needs.

With the fitness industry continuing to grow, what are Fitness First’s plans for expansion and growth in 2025? Are there any new markets or regions you’re particularly excited about entering, and what can members expect from these developments?

This year is set to be a landmark one for Fitness First, with plans that not only include the launch of six new clubs across Dubai and Abu Dhabi but also a GCC-wide expansion strategy. These developments are underpinned by our partnership with the renowned global design agency, LXA, which plays a pivotal role in redefining the layout and design of our gyms. This partnership ensures meticulous attention to detail in space planning and management, creating workout environments that are both functional and inspiring.

A well-thought-out gym layout not only maximises space but also enhances the overall workout experience and fosters a better mindset for members. The six new clubs, strategically located in high-demand areas, will feature advanced technology, functional training areas, recovery zones, and dedicated spaces for group exercise, cycling, and reformer Pilates — an activity that has gained significant popularity in recent years. This aligns with our goal to stay ahead of industry trends and provide members with access to the latest fitness activities.

In addition to new club openings, Fitness First is focused on enhancing its existing clubs to provide upgraded facilities and experiences for its members. From improved layouts to integrating advanced wellness features like infrared saunas and ice baths, these enhancements are designed to elevate the member journey.

A key highlight of 2025 will be the introduction of a personalised member journey, with an exclusive concierge coach programme to guide new members through their onboarding process. This initiative aims to ensure that every new member feels supported and empowered to achieve their fitness goals from day one. Members can also look forward to innovative programmes, including new fitness assessment tools to help track progress more effectively and concept-driven classes that cater to modern fitness enthusiasts.

By expanding our footprint and improving our offerings, Fitness First is committed to bringing its unique blend of fitness and wellness to even more communities, ensuring we remain the leading fitness brand in the region.

What do you envision for the future of Fitness First in the Middle East? Are there any new trends or technologies in fitness that you believe will shape the next phase of the business and enhance the member experience?

By 2025, we envision Fitness First at the forefront of integrating technology with fitness. In this age of advanced technology and AI, trends like AI-driven personal training, wearable tech, and virtual reality workouts are poised to revolutionise the fitness industry. While we are exploring the implementation of AI at Fitness First, it is certainly an area to focus on in the future.

Leveraging AI has the potential to not only enhance our business operations but also elevate the member experience by providing more personalised, data-driven fitness solutions. We’ll also continue to prioritise community-building, mental health, and recovery, ensuring that our clubs go beyond being mere fitness facilities to become holistic wellness hubs.

With our ongoing expansion, innovative programs, and a strong focus on creating meaningful member experiences, the future of Fitness First in the Middle East is bright and transformative. We are committed to shaping the next era of fitness and wellness in the region, keeping our members’ needs at the heart of everything we do.

Read: WHOOP’s Stephan Muller on how wearable tech is shaping the future of wellbeing

FAB reports Dhs17.1bn in net profit for 2024

FAB’s capital and liquidity positions remained strong, with a common equity tier 1 (CET1) ratio of 13.7 per cent and a liquidity coverage ratio (LCR) of 142 per cent

Neesha Salian
Neesha Salian

06 February, 2025

FAB reports Dhs17.1bn in net profit for 2024
Image: Supplied

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First Abu Dhabi Bank (FAB), the UAE’s largest lender, reported a 4 per cent year-on-year increase in net profit for 2024 to Dhs17.1bn ($4.66bn), supported by strong revenue growth and robust business volumes.

The bank’s revenue surged 15 per cent to Dhs31.6bn, driven by diversified income streams and operating efficiencies.

FAB’s profit before tax rose 13 per cent year-on-year to Dhs19.9bn, reflecting heightened client activity and expansion across key financial markets.

In Q4, net profit climbed 4 per cent to Dhs4.2bn, while revenue increased 11 per cent to Dhs7.7bn.

The bank’s Board of Directors has recommended a cash dividend of 75 fils per share for the full year, amounting to a total payout of Dhs8.3bn.

The proposal, which represents 51 per cent of the net profit available for distribution, is subject to shareholder approval at FAB’s Annual General Meeting on March 11, 2025.

FAB: Expansion and strategic growth

FAB’s asset base expanded in 2024, with total assets rising 4 per cent year-on-year to Dhs1.21tn. Loans, advances, and Islamic financing grew 9 per cent to Dhs529bn, while customer deposits increased 3 per cent to Dhs782bn.

The bank’s international operations, which now span 20 key financial markets, saw revenue grow 32 per cent year-on-year, reinforcing FAB’s global footprint.

“FAB’s performance in 2024 cements consecutive years of expanded scale and improved profitability, demonstrating steady progress against our group strategy as the UAE’s global bank,” said Sheikh Tahnoon Bin Zayed Al Nahyan, chairman of FAB.

Hana Al Rostamani, FAB’s group CEO, highlighted the bank’s strategic achievements: “Our strategy produced robust results in the UAE, our thriving home market, while powering the expansion of our international franchise. We diversified growth across customer segments and sources of income, growing international revenue by 32 per cent.”

FAB’s return on tangible equity (RoTE) for 2024 stood at 16.8 per cent, aligning with its medium-term target of above 16 per cent.

Operational highlights and ESG initiatives

FAB continued its expansion in wholesale banking, with investment banking revenue growing 19 per cent year-on-year, while global markets revenue increased by 18 per cent.

Corporate and commercial banking also posted strong gains, aided by digital innovations such as the Commercial Banking Service Accelerator.

Retail banking saw a 20 per cent increase in new customers, with lending and deposits rising 15 per cent and 17 per cent, respectively.

Private banking assets under management surged 75 per cent year-on-year, while revenue in consumer and private banking rose 18 per cent and 15 per cent, respectively.

On the environmental, social, and governance (ESG) front, FAB facilitated Dhs267bn in sustainable and transition financing, surpassing half of its 2030 target of Dhs500bn.

The bank also became the first in the region to publish a Taskforce on Nature-related Financial Disclosures (TNFD) report, aligning its financial practices with environmental resilience.

“We will continue to invest in technology and innovation to enhance our services, drive efficiencies, and grow our competitive edge, ensuring strong, sustainable shareholder returns,” Al Rostamani added.

Financial outlook

Lars Kramer, FAB’s group CFO, said that the bank’s strong performance was underpinned by revenue exceeding Dhs30bn for the first time. “Our solid balance sheet fundamentals, resilient net interest margin profile, and diversified business model position us well to continue delivering profitable growth and achieving our return targets,” he said.

FAB’s capital and liquidity positions remained strong, with a common equity tier 1 (CET1) ratio of 13.7 per cent and a liquidity coverage ratio (LCR) of 142 per cent.

Looking ahead, FAB aims to capitalise on regional and international opportunities while supporting the UAE’s economic ambitions.

“As the UAE’s global bank, we remain committed to fostering sustainable growth and connecting local, regional, and international economies within a world-class financial ecosystem,” Sheikh Tahnoon said.

Read: FAB reports Dhs12.9bn in net profit for Jan-Sept ’24

OpenAI’s Altman to stop in Abu Dhabi for MGX fundraising talks – report

Altman’s Abu Dhabi stop comes as the ChatGPT maker looks to raise about $40bn to fuel its model development

Reuters
Reuters

06 February, 2025

OpenAI’s Altman to stop in Abu Dhabi for MGX fundraising talks – report
Image credit: Getty Images

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OpenAI CEO Sam Altman plans to visit the United Arab Emirates this week to discuss raising funds with Abu Dhabi investment group MGX, two sources with knowledge of the matter said.

Altman’s Abu Dhabi stop comes as the ChatGPT maker looks to raise about $40bn to fuel its model development and ambitious infrastructure plan Stargate at a time when US AI companies are facing a new challenge from cheaper Chinese alternative DeepSeek.

Read: Nestlé, Dubai AI Campus to develop AI tool to drive F&B innovation

MGX took part in OpenAI’s last funding round of $6.6bn, which closed in October. With a growing presence in the US AI scene, it has invested in companies such as xAI and Databricks. MGX was not immediately available for comment.

The talks with Abu Dhabi’s MGX will follow Altman’s whirlwind tour of Asia, during which a partnership with Japan’s SoftBank for AI services was announced on Monday.

SoftBank is in talks to lead a funding round of up to $40 billion in OpenAI at a valuation of $300bn, including the new funds, in what could be a record single funding round for a private company, sources have said.

Important: China’s DeepSeek rivals ChatGPT, casting doubt over tech valuations

US President Donald Trump last month unveiled a joint venture dubbed Stargate involving three principal equity backers OpenAI, SoftBank, and Oracle ORCL.N, in which MGX is also participating.

The Stargate partners have promised to spend $100 billion to build the servers providing computing muscle for AI, ramping up to $500bn over four years.

Altman visited India on Wednesday, where he met IT Minister Ashwini Vaishnaw and discussed the country’s plan for creating a low-cost AI ecosystem.

Must know: OpenAI launches ChatGPT Edu for universities, to be available in 50 languages

Altman’s OpenAI, which is part-owned by Microsoft, released ChatGPT in late 2022 and reached over 300 million weekly active users two years later. But China’s DeepSeek emergence this month showed companies a cheaper alternative to access AI technology at a fraction of the cost.

AI was top of the agenda when UAE President Sheikh Mohamed bin Zayed Al Nahyan visited Washington in December.

Abu Dhabi’s AI push is led by the state-backed G42 and MGX, in which the $330bn wealth fund Mubadala is a partner.

What’s in store for LEAP 2025 in Saudi Arabia?

Over the past three years, LEAP has facilitated public and private investment exceeding $27.5bn, setting benchmarks for tech events globally

Gulf Business
Gulf Business

06 February, 2025

What’s in store for LEAP 2025 in Saudi Arabia?

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The fourth edition of LEAP, Saudi Arabia’s technology event, will take place from February 9-12 at the Riyadh Exhibition & Convention Centre in Malham.

Under the theme ‘Into New Worlds,’ LEAP 2025 will be the event’s first ticketed edition, with a focus on industry attendees to enhance business networking and investment opportunities.

LEAP 2025 is co-organised by Tahaluf and the Ministry for Communications and Information Technology (MCIT) – a joint venture between Informa PLC, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and the Events Investment Fund. The event will feature new additions such as ‘LEAP Nights’ activities, the return of DeepFest, a dedicated Tech Arena, and a SportsTech Track. The programme will span over 20 stages, covering sectors including space, gaming, education, and smart cities.

The fourth edition is expected to attract increased engagement between exhibitors and visitors, featuring over 680 start-ups, more than 1,000 expert speakers, and over 1,800 global tech brands.

New features at LEAP 2025

A new SportsTech Track will explore the intersection of sports and technology. Attendees will have access to live demonstrations, industry announcements, and insights from clubs and sector leaders. Confirmed speakers include Patrice Evra, former Manchester United forward and France national team captain, and Mathieu Pierre Flamini, former French professional footballer and co-founder of GF Biochemicals.

The Tech Arena will showcase live product demos and prototypes, offering attendees a hands-on experience with emerging technologies. The Startup Stage will provide a platform for innovators and start-ups to pitch, network, and explore business opportunities.

Beyond the convention halls, LEAP Nights will feature cultural and networking events across Riyadh, including dinners, meetups, and live entertainment.

LEAP 2025 will also host investor-to-investor workshops, mentorship sessions, and a dedicated Investor Program. More than 1,500 global investors and start-ups are expected to participate in structured networking opportunities.

International speakers and participants

Confirmed speakers include Ken Kutaragi, former Chairman and CEO of Sony Interactive Entertainment; Javier Tebas, President of La Liga; Connie Chan, General Partner of Andreessen Horowitz; Andrea Vena, Chief Climate and Sustainability Officer of the European Space Agency; and Alex Hirschi, Chairwoman of Supercar Blondie.

Returning speakers include Arvind Krishna, Chairman and CEO of IBM. Previous editions have featured Eric Yuan, Founder and CEO of Zoom; Shou Chew, CEO of TikTok; and Mo Gawdat, former Chief Business Officer of Google.

His Excellency Eng. Abdullah Alswaha, Saudi Arabia’s Minister of Communications and Information Technology, highlighted LEAP’s role in advancing the Kingdom’s technology sector:

“LEAP has contributed to Saudi Vision 2030 by positioning the country as a global technology hub. Moving to a ticketed format makes LEAP a more tailored experience for industry professionals. LEAP 2025 will showcase technological innovations, business opportunities, and high-level content, reinforcing Saudi Arabia’s role in the global tech landscape.”

Faisal Alkhamisi, Chairman of SAFCP, added:

“LEAP has rapidly evolved, playing a key role in fostering talent, creativity, and investment. This is only the beginning. LEAP will continue to reflect the ever-changing tech landscape and bring together pioneers from around the world.”

Michael Champion, CEO of Tahaluf, stated:

“Transitioning to a ticketed model will create a more focused experience, allowing exhibitors and participants to connect with a highly engaged audience, leading to meaningful collaborations and business opportunities.”

Over the past three years, LEAP has facilitated public and private investment exceeding $27.5bn, setting benchmarks for tech events globally and contributing to economic growth beyond the exhibition and conference floors. The upcoming edition aims to further enhance its impact and innovation potential.

ONE Development, Amr Diab introduce musical boutique hotel

The unique DO hotel Integrates AI, music and wellness

Gulf Business
Gulf Business

06 February, 2025

ONE Development, Amr Diab introduce musical boutique hotel
Image: Supplied

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ONE Development, the UAE’s AI-driven boutique lifestyle property developer based in Abu Dhabi and Dubai has launched ONE/AD, an innovative endeavour set to disrupt the hospitality industry with the first musical-themed boutique hotel integrating AI, music and wellness.

Co-founded by ONE Development and the Arab entertainment icon Amr Diab, DO Boutique Hotels will feature a ‘bold’ design, wellness, evocative music and AI.

The launch of the new hotel chain by ONE/AD is seen as another step in support of both the UAE’s Tourism Strategy 2031 and those of the countries it is operating in, not only contributing to local and regional progress in the industry, but also boosting the economy by facilitating the attraction of increased investment.

ONE Development strengthens partnership with Amr Diab

“Our partnership with global legend Amr Diab is a bold step towards redefining the hospitality Industry,” said Ali Al Gebely, founder and chairman of ONE Development.

“DO Boutique Hotels introduces a completely new disruptive hotel chain in the UAE, seamlessly blending music, design and AI to create spaces where luxury meets inspiration.”

Al Gebely added: “Music has always been my way of connecting with people; this vision now reaches into hospitality. DO Boutique Hotels create inspiring spaces where innovation, culture and wellness meet, offering today’s travellers exclusivity, creativity and meaningful connections.”

DO Boutique Hotels: Music is a key element

Amr Diab, founder of DO Boutique Hotels, said: “Music has always been my way of connecting with people; this vision now reaches into hospitality.

“DO Boutique Hotels create inspiring spaces where innovation, culture and wellness meet, offering today’s travellers exclusivity, creativity and meaningful connections.”

DO Boutique Hotels, under the slogan “Live the Beat”, offers an aspirational holistic lifestyle, transforming ordinary moments into extraordinary experiences.

Each venue will serve as a vibrant hub of creativity and connection, according to the founders.

Dubai to host second edition of Middle East Blockchain Awards

MEBA 2025 comes as blockchain adoption continues to grow across the MENA region

Gulf Business
Gulf Business

05 February, 2025

Dubai to host second edition of Middle East Blockchain Awards
Image credit: Getty Images

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The Middle East Blockchain Awards (MEBA) returns for its second year, with Dubai selected as the host city. The ceremony will take place at the Jumeirah Burj Al Arab on April 29, coinciding with the TOKEN2049 conference. The event will bring together industry professionals to recognise achievements in blockchain and cryptocurrency.

MEBA 2025 comes as blockchain adoption continues to grow across the MENA region. Recent data from Chainalysis ranks the region as the world’s seventh-largest cryptocurrency market. Between July 2023 and June 2024, MENA recorded an estimated on-chain transaction value of $338.7bn, representing 7.5 per cent of global volume.

The UAE has positioned itself as a key player in digital asset adoption. According to Henley & Partners, the UAE ranks third globally in digital currency usage. Chainalysis data shows the UAE received approximately $34bn in cryptocurrencies between June 2023 and July 2024, marking a 42 per cent year-on-year increase. Cities such as Dubai have played a role in fostering blockchain-related initiatives.

Max Palethorpe, Founder and CEO of Hoko Group, the official organiser of MEBA, said: “The Middle East Blockchain Awards provides a platform to recognise achievements in blockchain and digital transformation. With the UAE leading developments in Web 3.0, this year’s event will highlight the work of industry leaders shaping the sector’s future.”

Returning as a judge for the second year, Dr. Marwan Al Zarouni, CEO of AI for Dubai at the Department of Economy and Tourism and CEO of Dubai Blockchain Centre, said: “I am pleased to be part of the judging panel again and to witness the continued development of blockchain technologies in the MENA region. The UAE’s regulatory approach and innovation ecosystem are driving adoption across Web 3.0 technologies.”

Other judges for this year’s Middle East Blockchain Awards include:

  • Jumana Al Darwish, Impact Entrepreneur, Web3 Investor and Founder of The Happy Box
  • Scott Melker, Host of The Wolf of All Streets Podcast and Crypto TownHall
  • Mario Nawfal, Host of Largest Show on X and Founder of International Blockchain Consulting Group
  • Saqr Ereiqat, Secretary General of Dubai Digital Assets Association and Co-Founder of Crypto Oasis
  • Matthies Mende, Founder and CEO of Bonuz and Co-Founder of Dubai Blockchain Center

MEBA seeks to highlight innovation and excellence in blockchain and Web 3.0 projects across the region. In 2023, its inaugural edition partnered with Abu Dhabi Global Market’s Abu Dhabi Finance Week and the Middle East, Africa, and Asia Crypto and Blockchain Association (MEAACBA).

Submissions are now open at www.mebawards.io, where participants can find details on categories and the nomination process.

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