The new unit will be the biggest fitness center of the Stay Fit network, covering an area of 1,500 square meters.
Stay Fit, a brand present on the local market since 2012, currently has seven fitness centers, all located in Bucharest. Stay Fit Gym had a turnover of RON2.5 million in 2020, up 26% on the year, per finance ministry data.
Stay Fit Gym shareholders are three entrepreneurs also engrossed in the restaurant business, which includes the Uncle John, Old Brick Pub and Hashtag Pub restaurants.
Colosseum Center was initially inaugurated ten years ago and is now undergoing expansion, which entails an investment of EUR30 million. Upon expansion, the project will reach a lettable area of 54,500 square meters and will be named Colosseum Mall. Of the total amount of EUR30 million earmarked for expansion, EUR23 million represents financing from Credit Europe Bank.
The Colosseum project is developed by the company Nova Imobiliare, which, per data on Confidas.ro platform, is held by Cyprus-based Novarg Limited.