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Armah Signs Deal for 110.4M Riyal Sports Club
Armaḥ Sports Company has signed an agreement with Émaar Al-Wasil Al-Mumayaz to develop a sports facility in Al-Qirwan neighborhood in Riyadh at a value of 110.4 million SAR. The aim is to transform a piece of land owned by the company into a men’s sports club under the "Be Fit" brand. The contract includes developing the facility according to technical specifications and delivering it ready for operation within 24 months. The company will lease the facility for 20 years at an annual rent of 5.52 million SAR. This agreement seeks to expand the presence of the "Be Fit" brand in Riyadh's fitness market and support the company's operational expansion plans through a long-term leasing model.
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