Riyadh — Mubasher: Sport Clubs Company has signed a lease agreement on 20 August 2026 with The Endowment (Waqf) of Ahmed Hamdan Salim Al Aradi Al Balawi for an existing commercial building in Riyadh.
The contract is valued at SAR 116.63 million excluding value-added tax, according to a bourse filing.
The agreement covers a total area of approximately 5,200 square meters on King Abdulaziz Road in the King Salman district.
Sport Clubs noted that the contract holds a duration of 20 years commencing on 1 June 2027 and concluding on 31 May 2047.
Under the terms, the company will develop and operate an integrated men’s sports center under the Body Masters Premium brand, alongside commercial and office rental spaces.
This project aligns with the listed company’s expansion strategy to increase its branch network and revenue growth.
With this signing, Sport Clubs now has 15 projects under development, including nine under construction and six awaiting necessary permits.
The financial impact is expected to materialize following the completion of development work and the commencement of operations, Sport Clubs said, stating that no related parties were identified in the transaction.
