On May 21, 2026, Armah Sports Company announced it has signed a land lease agreement with the heirs of Mohammed Suliman Al-Yahya for a 5,821-square-meter site on Abu Bakr Al-Siddiq Road in Riyadh's Al-Narjis district. The contract involves developing and operating two sports clubs under Armah's "B_FIT" brand, designated for men and women, along with commercial and office spaces. The lease spans twenty years with a two-year grace period, and the total contract value exceeds 36% of the company's annual revenue according to audited 2025 financial statements. This project supports Armah's expansion strategy through prime locations to achieve targeted growth and returns.

Original announcement:

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.