Saudi-based Armah Sports Company (Armah) has announced that it has signed a land lease agreement with Fawaz Abdulmohsen Saad Bin Saeed to develop and operate a sports club in capital Riyadh.

Armah said the club, located on a 2,500-sq-m area in the upscale Al Sulaymaniyah District on Makkah Road, will be dedicated to men under the 'B_FIT' brand owned by Armah Sports Company.

It will offer full-serviced facilities and a range of innovative technologies that deliver a unique fitness experience, said Armah in its filing to Saudi bourse Tadawul.

This comes as part of their strategy to expand through prime locations in order to achieve targeted growth and returns, it stated.

With the addition of this new location, Armah's total number of brand outlets have now risen to 30, thus marking a key milestone in its growth journey towards achieving its strategic target of 50 clubs by 2030.

The 20-year lease term will commence soon after the 24-month grace period from the handover date, it added.-TradeArabia News Service