Logo of Leejam Sports Co. (Fitness Time)
Leejam Sports Co. (Fitness Time) established Padel X Sports Co. (a limited liability company) with SAR 50,000 capital, in partnership with World Wide Padel.
Leejam aims to invest in Padel sports in Saudi Arabia by building and operating Padel courts. The incorporation of the new company was completed on July 23, the company said in a statement to Tadawul.
Through its investment arm, Leejam owns 51% of Padel X, while World Wide Padel, through its Saudi subsidiary, Padelbolaget Sports Co., holds the remaining 49% stake.
The new company will commence operations from the incorporation date. The financial impact will appear as of Q3 2023, Leejam added.
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