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| Announcement Detail | Sport Clubs Company announces the signing of a lease contract of a parcel land for 21 Gregorian years, amounting of 22,010,862 Saudi Riyals excluding VAT, located in King Fahd Medical City, Al-Sulaymaniyah District in Riyadh, with a total area of 3,800 square meters, for the construction, operation and management of two clubs (Body Masters and Body Motions). The total built-up area will reach 4,750 square meters, as part of its expansion plans to increase the number of clubs and enhance its presence across various regions of the Kingdom. The positive financial impact of this project will appear upon the completion of the two sport clubs, which is expected in the second half of 2026. The Company wishes to update its esteemed shareholders on the latest developments regarding the ongoing projects: • After signing this contract, the Company now has a total of 14 clubs with signed lease agreements, most of them are either under construction or awaiting the necessary permits to commence construction. • In addition, a number of other clubs are under process for signing their lease contracts, with their opening expected within the next 16 months. Any material developments regarding these projects will be announced in due course. |
| Attached Documents | Attached Documents |