16 Hrs
Source:
معلومات مباشر
Armaḥ to open new club in Riyadh
Armah Sports Company announced the signing of a lease agreement for a plot of land in the Sulaymaniyah neighborhood of Riyadh city to establish and operate a new sports club under the "Be Fit" brand. This is part of the company's expansion plan aimed at increasing the number of clubs to 30 locations by 2030. The land measures 2,500 square meters, and the contract is with Fawaz Abdulmohsen Saad bin Saeed for a period of 20 years, commencing after a grace period of up to 24 months. The total value of the contract exceeds 13% of the company's annual revenues based on 2025 reports, excluding value-added tax. The company will appoint a specialized contractor to carry out the construction works, with the project expected to be completed within two years. The financial impact will begin after the commercial launch of the club. This initiative is part of the broader strategy to expand in the fitness sector within the Kingdom, aimed at strengthening its presence in major cities and supporting its long-term goals of improving quality of life and encouraging sports.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)