TMM agrees with Sport Life to open fitness clubs in four residential complexes in Kyiv

Kyiv, July 17 (Interfax-Ukraine) – Kyiv-based Т.М.М. construction firm and Sport Life Group, which manages a fitness club chain and the Eurasia restaurant and sushi bar chain in Russia and Ukraine, have signed an agreement on opening fitness clubs in Kyiv in four residential complexes that Т.М.М. is to build, according to Т.М.М. Director General Mykhailo Tolmachev.

"There are agreements. Plus four objects – those that we're considering. The Sonaichna Brama residential complex at 73-79, Lomonosova Street, the Aviator residential complex at 22-28 Komarova Street, a residential complex at 7, Laboratorny Lane and another one in Protasiv Yar," he said at the presentation of a first joint Sport Life Triumph De Lux fitness club located in the Triumph premium class residential complex at 59 Zverinetska Street in Perchersky District.

Asked about the terms of realization of the above-mentioned projects, Tolmachev said that if a standard technical solution were to be drawn up, they would be opened.

He noted that the company has long-lasting plans for a national partnership, with the development of the chain in regional centers.

Tolmachev said that Sport Life Triumph De Lux fitness club is the first joint project of the companies. Investment in its opening is estimated at around $10 million. An annual subscription in the club would cost $1,500-$2,000. Sport Life Triumph De Lux would be open for visitors from November 15.

"We leased [premises for Sport Life Triumph De Lux] at a fixed price. If the business brings super-profits, we will receive a part of it. Super-profit over a certain margin would be divided 50 to 50 between companies. The agreement was signed a month ago," he said.

In turn, the founder of Sport Life Dmitry Ekimov said that the group plans to open another fitness club of 5,800 square meters in Kyiv in Protasiv Yar by late 2009 and next year – three more clubs, expanding the chain in Kyiv to six clubs.

"I think that within two years we'll open ten clubs," he said.

Ekimov also said that Sport Life earlier signed an agreement with a constructor, the name of which has not been disclosed, to open a fitness club in Osokorky District in Kyiv. However, despite agreements, the construction of the club has not started.

"If active construction has not started by August 1, I will cancel the contract," he said.

"I expect that we'll promote Sport Life in all cities with populations of over one million and in towns with 300,000-500,000 people. I don’t see immediate income there, but I see potential over five to ten years. We're having talks in Poltava, Zhytomyr, Dontesk, Kharkiv, Dnipropetrovsk and Lviv," he said.

Ekimov did not disclose the terms for the opening of fitness clubs in the regions, adding that everything would depend on leasing agreements.

He said that the investment in the development of the Sport Life chain comes from the funds of the company's shareholders.

At present, apart from the Sport Life Triumph De Lux, a Sport Life fitness club operates in Petrovka District.