Sport Clubs signs SAR 22M land lease to build 2 fitness centers in Riyadh

Logo of Sport Clubs Co.

Sport Clubs Co. signed a 21-year land lease agreement worth SAR 22.01 million (VAT exclusive) to build, operate, and manage two fitness centers, Body Masters and Body Motions, in Riyadh.

According to a statement on Tadawul, the leased land is located within King Fahd Medical City, Al-Sulaimania district, Riyadh, covering a total area of 3,800 square meters (sqm) and a total built-up area of 4,750 sqm.

The project’s positive financial impact is expected to appear in the second half of 2026, upon completion of construction and the start of operations.

Following this agreement, the company said the total number of branches under lease contracts reached 14, most of which are either under construction or awaiting regulatory approvals.

Additional branches are in the pipeline, with several expected to open within the next 16 months.

The company noted that this deal came as part of its strategy to expand its branch network and strengthen its presence across the Kingdom.

It will announce any material updates related to these projects in due course.

Sport Clubs was listed on the Main Market (TASI) on July 22, at a share price of SAR 7.5, according to Argaam’s data.