Palms Sports Secures AED 78 million Coaching Contract with Abu Dhabi GovernmentApril 4, 2022
Abu Dhabi, UAE; April 4, 2022: Palms Sports, the global sports management company, world's largest Jiu-Jitsu training academy, and a subsidiary of International Holding Company (IHC), secured a AED 78 million contract with Abu Dhabi government. The three-year partnership will see Palms Sports provide Jiu-Jitsu and self-defense coaching to employees of the government’s entities.
Under the new contract, Palms Sports will design and implement a world class Jiu-Jitsu and self-defense training program, with 50 highly qualified and experienced instructors in various training centers across Abu Dhabi City, Al Ain and Dhafra region. Additionally, Palms Sports will construct and supply training halls, equipment, and supplies to ensure a fully effective training process.
Fouad Darwish, CEO and MD of Palms Sports, said: “We have been witnessing, year on year, a fast-growing demand for sports training in the UAE from both government and private sectors. As more and more people embrace fitness, we continue to see extraordinary adoption of sport into everyday lifestyle, and our top priority is ensuring we can keep meeting that demand. The strategic partnership with Abu Dhabi Government comes as a result of Palms Sports industry leadership and positive reputation in the UAE market.”
The Jiu-Jitsu and self-defense coaching programs aim to help individuals learn how to stay focused and think clearly, while building muscle memory which will boost confidence, self-esteem, motivation and contributes overall to a healthy and productive workforce.
Palms Sports is determined to provide the necessary support for sports in the country by constructing many modern sports facilities and training centers, such as Khabib Gym (Yas Island), to serve professionals and beginners.
“This year, we will be looking to expand our market reach to a new location. We are considering new business acquisition opportunities that can support our powerful growth model since it allows us to focus on businesses that already have knowledge of a segment of our industry.” Darwish added.
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In a nutshell, there is a huge market for these services in UAE - and Palms Sports offers investors a way to ride this trend. A Dh2.13 billion market cap company, it was listed on ADX last month. International Holding Company (IHC) as the parent company holds 79 per cent.