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Armah Sports Co. has officially executed a 20-year land lease agreement to establish and operate a new male-only sports club under its B-FIT brand in Riyadh's Al-Sulaimaniyah district on Makkah Road. The lease includes a 24-month grace period before payments commence. The total contract value exceeds 13% of the company's 2025 revenue, translating to more than SAR 29.23 million based on its annual revenue of SAR 224.9 million. The project will be built on a 2,500-square-meter plot with construction expected to finish within two years.
This expansion aligns with Armah's broader business plan to secure prime retail real estate across Saudi Arabia and achieve sustainable revenue growth. The new addition raises the company's network to 30 locations, marking significant progress toward its strategic ambition of operating 50 sports clubs by 2030. Management noted that the financial impact will materialize once construction is finished and commercial operations begin.
For investors following Saudi equities and the domestic consumer services sector, this project underscores the ongoing momentum in private health and wellness infrastructure driven by Saudi Vision 2030. Key metrics to monitor include project execution timelines, construction costs, and post-opening occupancy rates, which will ultimately determine the club's contribution to future earnings.
