Armah Sports Company Signs Land Lease in Riyadh’s Al-Quds Neighborhood
Armah Sports Company, a dynamic player in the fitness industry in Saudi Arabia, has recently made a strategic move by signing a lease for land in the Al-Quds neighborhood of Riyadh.
This development will be significant impact of the local fitness landscape, according to Saudi Exchange.
Company Background
Founded in 2019, Armah Sports Company has established itself as a curator of leading fitness brands. The company focuses on reshaping the fitness industry with a network of strong club facilities and expertise in developing fitness center goals into reality.
It values innovation, passion, ambition, family, and fun, all of which are reflected in its operations and services.
Recent Development in Riyadh
On December 14, 2023, Armah Sports signed a land lease contract in Riyadh’s Al-Quds neighborhood. This move is part of the company’s strategic expansion and will supervise the construction of two sports clubs.
These clubs will cater separately to men and women, aligning with the company’s inclusive approach to fitness and wellness.
Financial Milestones
Armah Sports has also been active in the financial arena. The company issued a prospectus to float 4.9 million shares on the Nomu-Parallel Market. This offering represented 15% of the company’s post-IPO capital, amounting to SAR 328.59 million, and was divided into 32.86 million shares.
Sustainability, Community Engagement
The company ensures its fitness centers are eco-friendly, using green building practices and LEED certifications. They focus on creating less of a carbon footprint, utilizing recycled materials, maintaining a paperless environment, and using environmentally friendly cleaning solutions.
Implications for Fitness Industry in Riyadh
This new development by Armah Sports in Riyadh’s Al-Quds neighborhood is more than just an expansion of their physical footprint. It represents a commitment to sustainable practices, community engagement, and the promotion of health and wellness in Saudi Arabia.
The company’s new clubs in Riyadh will serve both men and women, thereby broadening its customer base and enhancing the local fitness scene.
Furthermore, Armah Sports Company’s recent moves, such as leasing land in Al-Quds and issuing shares on Nomu, show its growth and dedication to innovative, sustainable fitness. Additionally, its ongoing expansion reflects the evolving fitness industry in Saudi Arabia.
Moreover, this progress illustrates its commitment to staying ahead in the competitive market. Consequently, the company’s developments are in line with global trends in health.
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