Leejam inks MoU with Investment ministry to boost sports investments

Logo of Leejam Sports Co. (Fitness Time)

Leejam Sports Co. (Fitness Time) signed today, Feb. 5, a non-binding memorandum of understanding (MoU) with the Ministry of Investment to boost and expand sports investment and improve quality of life.

The MoU is valid for three years from the signing date, with no expected financial impact, the company said in a Tadawul statement.

No related parties are included in the agreement, the statement added.

The deal aims to boost and expand sports investment, improve quality of life, create ways of cooperation to develop investment opportunities in specialized sports and explore additional investment paths in cooperation with the Ministry of Investment.

It also aims to attract new opportunities for strategic partnerships that serve the sports sector in the Kingdom. This is besides strengthening cooperation to increase the number of sports facilities through the initiatives and capabilities provided by the ministry, in coordination with the Investment Department at the Ministry of Sport.