Sport Clubs inks SAR 22.8M land lease for 2 Khamis Mushayt gyms

In a statement to Tadawul, the company said the agreement covers the investment, development, and fit-out of a 5,550.68-square-meter plot in the Al Bawadi district on Prince Sultan Road in Khamis Mushayt.

The site will house two fitness clubs under the Body Masters and Body Motions brands.

The contract was awarded and signed on July 26. The lease term commenced on the signing date and will run until Jan. 28, 2051.

There are no related parties to the deal, the statement added.

Sport Clubs said the project is expected to have a positive financial impact once the fit-out is completed, the required licenses are obtained, and the clubs begin operations.

It added that any material developments related to the project will be announced in due course.

The company also said that the agreement aligns with its expansion strategy to open new locations in key areas, helping expand its customer base and support future revenue growth.

With the signing of this agreement, the number of projects under construction or awaiting the necessary permits to begin construction has risen to 14.