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Sport Clubs Co. Enters SAR117 Million Lease Deal for Sports Center Project

MT Newswires·08/23/2026 02:27:10
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02:27 AM EDT, 08/23/2026 (MT Newswires) -- Sport Clubs Co. (SASE:6018) signed a lease agreement worth 116.6 million Saudi riyals with the Endowment (Waqf) of Ahmed Hamdan Salim Al-Aradi Al-Balawi. The fitness center network operator said Sunday that the 20-year lease for a 5,200-square-meter commercial building in Riyadh, Saudi Arabia, will start on June 1, 2027, and end on May 31, 2047. The company said that the asset will be used to launch a men's sports center under its Body Masters - Premium brand.