Armah Sports Leases Land in Riyadh, Reaching 30 Locations
Armah Sports signed a 20-year lease agreement for a 2,500-square-meter plot of land in Riyadh to construct and operate a men's sports club.
Armah Sports Company signed a land lease agreement with Fawaz Abdulmohsen Saad bin Said to construct and operate a new sports club in Riyadh, according to a disclosure reported by the Mubasher platform.
The project is located in Al-Sulaimaniyah district on Makkah Al-Mukarramah Road and will be developed as a men's facility under the B_FIT brand, covering an area of 2,500 square meters for a 20-year term starting after a 24-month grace period.
The contract was signed on October 15, 2026, and its total value exceeds 13% of the company's total revenues according to the audited financial statements for 2025, as also reported by the Argaam website.
The company explained that it expects to complete the facility within two years, and that the new location brings its total number of sites to 30, as part of its goal to reach 50 clubs by 2030.
What do these terms mean?
Grace period: A timeframe granted before rent payments begin, usually used to prepare and fit out the location.
Brand: A name or logo that distinguishes a company's products or services from its competitors.
Disclosure: An official announcement required from publicly traded companies, revealing information that could affect their stock price.
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