I just checked MuscleContest.com (http://lindsayproductions.com/2012schedule.php) a few minutes ago, and apparently, according to the site, the first official contest for IFBB Women's Physique has been set for February 25, 2012 in Culver City, CA. It will be the IFBB Pro Grand Prix-Los Angeles Men & Women's Physique Championships. This will also be the day/night of the NPC Amateur Grand Prix- Los Angeles Bodybuilding, Bikini, Men's Physique, Figure & Fitness. This will be a National qualifier.
Obviously, this is subject to change at anytime, but it looks like IFBB's first women's physique contest will take place before the Arnold, which I think it's interesting. I personally have not heard if the Arnold next year will have women's physique (or men's physique for that matter). Kinda ironic that this news were to come out mere days before the Jr. USAs this weekend, where the NPC will debut women's physique for the first time.