Logo ofSport Clubs Co.
Sport Clubs Co. signed a lease for a 4,125-sqm land plot with Khalid Al-Habdan to develop, equip, and operate a new sports club under the “Body Masters” brand in Al-Shuhada district, Riyadh. 
In a statement to Tadawul, the company said the contract is valued at SAR 55.69 million, excluding VAT, and runs for 20 years from Feb. 1, 2028, to Jan. 31, 2048.
The company said the contract is preceded by a 16-month rent-free period from Oct. 1, 2026, to Jan. 31, 2028, allocated for planning, construction, and building works.
The project’s positive financial impact will begin once construction and fit-out works are completed, the necessary licenses obtained, and the sports club commences operations.
The company noted that there are no related parties and that it will announce any material developments related to the project in due course.
The agreement is part of Sports Clubs’ expansion strategy to open at new locations in key areas, which will contribute to expanding its customer base and supporting revenue growth in the future.
Following the signing of the agreement, the number of projects under development reached 16, including nine projects under construction and seven others awaiting the necessary licenses to commence construction, the statement added.
Logo ofSport Clubs Co.
Sport Clubs Co. signed a lease for a 4,125-sqm land plot with Khalid Al-Habdan to develop, equip, and operate a new sports club under the “Body Masters” brand in Al-Shuhada district, Riyadh.
In a statement to Tadawul, the company said the contract is valued at SAR 55.69 million, excluding VAT, and runs for 20 years from Feb. 1, 2028, to Jan. 31, 2048.
The company said the contract is preceded by a 16-month rent-free period from Oct. 1, 2026, to Jan. 31, 2028, allocated for planning, construction, and building works.
The project’s positive financial impact will begin once construction and fit-out works are completed, the necessary licenses obtained, and the sports club commences operations.
The company noted that there are no related parties and that it will announce any material developments related to the project in due course.
The agreement is part of Sports Clubs’ expansion strategy to open at new locations in key areas, which will contribute to expanding its customer base and supporting revenue growth in the future.
Following the signing of the agreement, the number of projects under development reached 16, including nine projects under construction and seven others awaiting the necessary licenses to commence construction, the statement added.
