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Leejam Sports Company, a network of sports and fitness centers in ������Ƶ and a publicly listed company, and SURJ Sports Investment, a sports investment company in the Kingdom, have announced the signing of an MoU to accelerate growth and innovation across the Kingdom’s dynamic sports ecosystem, particularly in fitness and community engagement.
Signed by Abdulelah Al-Nemr, CEO of Leejam Sports Company, and Danny Townsend, CEO of SURJ Sports Investment, the agreement reflects a shared ambition to elevate sports participation, scale innovation, expand access to world-class fitness experiences, and activate new models of community engagement and wellness innovation — in line with Saudi Vision 2030 goals to build a more active, inclusive, and healthier society.

The agreement outlines a broad framework for collaboration across six key areas: stadia and fitness facility operations, co-investment in sports properties, sponsorship and brand engagement, community activation and mass participation, data and technology integration, and co-creation of content and media production.
Abdulelah Al-Nemr, board member and CEO of Leejam Sports Company, said: “This MoU marks a pivotal step in Leejam’s journey to further solidify our role as a catalyst for ������Ƶ’s wellness transformation. Partnering with SURJ aligns with our strategic vision to foster active lifestyles, deliver value for shareholders, and contribute meaningfully to the Kingdom’s socioeconomic goals. We look forward to harnessing our national footprint and digital platforms to scale this collaboration across communities and sports disciplines.”
Danny Townsend, CEO of SURJ Sports Investment, said: “Leejam’s scale and expertise in fitness and wellness make them a natural partner as we continue to grow ������Ƶ’s sports ecosystem. This MoU reflects our shared commitment to participation, performance, and innovation, and to unlocking opportunities that go beyond traditional investment models. From stadiums to digital assets, and from community challenges to elite content, we’re excited to explore how we can bring the power of sport closer to more people across the country.”
As ������Ƶ’s largest and trusted network of fitness centers, operating under the “Fitness Time” brand, Leejam brings unparalleled market reach and operational capabilities. 

Through this partnership, Leejam will assess opportunities to operate or support fitness and wellness zones within SURJ-backed facilities, and to activate programming aligned with SURJ’s investments in major sports events and leagues. The MoU also covers exploratory co-investment models in sports IP, as well as leveraging Leejam’s national footprint to scale SURJ-led activations and co-host fitness activations that promote grassroots participation in sports.
Additional areas of focus in the MoU include sponsorship engagement opportunities, ranging from access to Leejam facilities and athlete visibility within gym environments to joint sports promotion campaigns and sponsorship for SURJ-owned IP.
A core pillar of the partnership includes data and technology collaboration, enabling both entities to share insights on performance metrics, gym technologies, and digital engagement tools, as well as co-development of short-form and live fitness content across platforms.
This announcement comes at a time of rapid progress for ������Ƶ’s sports sector. Nearly 50 percent of Saudis are now engaged in weekly physical activity, up from just 13 percent in 2015, while the number of multi-sport clubs has surged from nine to 126, and sports federations have tripled to reach 98.
Women’s participation in sport in ������Ƶ has seen extraordinary growth, with a 149 percent increase since 2015 and more than 330,000 registered female athletes today. 

Joyalukkas, one of the world’s largest jewelry retailers, has announced a landmark 500-million-dirham ($136.1 million) working capital facility provision through Emirates NBD, a banking group in the MENAT region. This milestone agreement supports Joyalukkas’ long-term expansion plans across the GCC and key international markets including the UK, US, Canada, and Australia.
Structured to provide Joyalukkas with seamless and flexible access to capital, the bespoke deal highlights the retailer’s pioneering approach to global retail growth and underscores its longstanding relationship with Emirates NBD. The facility offers working capital on a revolving basis, enabling Joyalukkas to draw and repay funds as needed, thereby enhancing cost-efficiency and operational control.
Since 1987, Joyalukkas has brought together artistry and precise design across 13 countries and more than 10 million customers and continues to strengthen its footprint across the globe.
Joy Alukkas, chairman of Joyalukkas Group, said: “This facility marks a significant milestone in our journey to expand Joyalukkas into key international markets including the UK, US, Canada, and Australia. Emirates NBD has been a trusted partner who understands the scale, ambition and discipline behind our global retail strategy. Structured with flexibility and foresight, this deal sets a new benchmark in the jewelry industry and reflects our pioneering approach to organized retailing. I sincerely thank the Emirates NBD team for their continued support and belief in our vision.”
Ahmed Al-Qassim, group head of wholesale banking at Emirates NBD, added: “The provision of this working capital facility for Joyalukkas shows Emirates NBD’s agility and capability to develop sector-specific transactions that cater to the exact needs of our expansive and diverse ecosystem of clients.”
“Designed to meet Joyalukkas’ strategic requirements, the deal emphasizes how Emirates NBD can deliver bespoke, digital-first, and customized credit solutions that empower leading companies and support both theirs and the UAE’s economic growth. As a value-added product, this 500-million-dirham facility will help to provide the long-term support Joyalukkas needs to drive ahead with its international expansion plans, empowered by swift access to a framework of carefully structured and flexible capital.”