Sport Clubs inks SAR 116.6M building lease in Riyadh for 20 years

The deal brings the number of projects under development to 15.

Sport Clubs Co. signed a 20-year lease for an existing commercial building in Riyadh with Endowment (Waqf) of Ahmed Hamdan Salim Al-Balawi to develop, equip and operate a new sports center. The contract is valued at SAR 116.63 million, excluding VAT.

In a statement to Tadawul, the company said the building, located on King Abdulaziz Road in King Salman District, covers around 5,200 square meters and includes retail outlets, shops, administrative offices, parking and other facilities. The new facility will be an integrated men’s sports center under the Body Masters – Premium brand, alongside leasable retail and office space.

The contract was awarded and signed on Aug. 20, 2026, with the lease running from June 1, 2027, to May 31, 2047. There are no related parties.

The company also noted the project’s positive financial impact will begin once development and fit-out operations are completed, the required licenses are obtained and the sports center begins operations.

With the signing of the agreement, the number of projects under development rises to 15, including nine under construction and six awaiting the required licenses. The agreement forms part of the company’s expansion strategy to open new locations in key areas, expand its customer base and support future revenue growth.