Abu Dhabi - Mubasher: Palms Sports has won its largest UAE government contract renewal to date at a total value of AED 306 million for the next 30 months.
The agreement positions the company firmly on track to secure more than AED 750 million in total contract value by the end of 2022, according to a press release on Wednesday.
Year-to-date (YTD), Palms Sports has been awarded AED 711 million in contracts this year.
The renewed contract will see Palms Sports provide 350 world-class Jiu-Jitsu coaches across all seven emirates, representing an 8% growth when compared with the previous contract.
CEO and MD of Palms Sports, Fouad Darwish, said: “We have numerous partnerships in the pipeline to further elevate our existing offerings and enhance our portfolio.”
In the first half (H1) of 2022, Palms Sports recorded a profit of AED 47.2 million, a 37% increase from the same period last year.
Established in 2011, Palms Sports is a global sports management company, the world's largest Jiu-Jitsu training academy, and a subsidiary of International Holding Company (IHC).
