Riyadh — Mubasher: Armah Sports Company has signed a land lease agreement with Fawaz Abdulmohsen Saad bin Saeed to establish and operate a new sports club in Riyadh, according to a bourse filing.
The project is located in the As Sulimaniyah district on Makkah Al Mukarramah Road and will be developed as a men’s facility under the company’s "B_FIT" brand.
Armah Sports noted that the contract was penned on 15 October 2026, with its value for the total duration exceeding 13% of the company’s total revenues as per the audited financial statements for the 2025 fiscal year.
The lease covers a 2,500 square meter plot for a term of 20 years, which commences following a 24-month grace period.
Armah Sports expects to complete the construction of the facility within two years.
This new site brings the total number of company locations to 30.
Meanwhile, the expansion aligns with the firm’s strategic objective to reach 50 clubs by 2030.
The listed company expects the financial impact of the agreement to materialize once the project is fully operational, noting that there are no related parties involved in the transaction.
