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 Palms Sports Awarded Contracts Worth $76.97 Million


Palms Sports Awarded Contracts Worth $76.97 Million

Palms Sports, the comprehensive sports management company, world’s largest Jiu-Jitsu training provider, and a subsidiary of International Holding Company (IHC), on Monday said that it has been awarded $76.97 million worth of new and renewed contracts with its long-standing strategic partner Emirates Schools Establishment (ESE).

In a disclosure with Abu Dhabi Securities Exchange (ADX), Palms Sports said that the first of the two contracts is a two-and-half-year $18.7 million extension and expansion of its oldest service contract with Emirates Schools Establishment delivering Jiu-Jitsu training to school children across Abu Dhabi, under what is known as the ‘School Jiu- Jitsu Program.’

This well-established program has produced countless achievements and milestones during its 12-year history. Among these great achievements include significant improvements in the physical, social, and mental health of students as well as gifting our beloved UAE with countless world-class Jiu-Jitsu champions.

The second contract, worth $58.27 million, is a revival of the School Jiu-jitsu Program in the Northern Emirates, which returns on a much wider scale, reaching 117 schools (compared to 22 previously) across the Emirates of Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.

Fouad Darwish, CEO and Managing Director of Palms Sports said that the expansion of the Abu Dhabi School Jiu-Jitsu Program and the wide scale return of the northern emirates program are the highest form of testimony to the success of such programs and the quality of training we provide.

“The importance of these two contracts in accelerating Palms Sports’ 2024 plans to multiply its reach and scope of operations to cover a much larger geographic domain and provide a wider array of services, thereby realizing our targeted levels of diversification, growth, and increased market share,” Darwish added.

About Palms Sports

Palms Sports is a UAE-based company established in 2011 and promotes niche sporting activities with a specific focus on Jiu-Jitsu and Martial Arts to UAE Nationals.

Palms Sports is one of eight listed companies at ADX under IHC, emphasising the importance of sports in our daily lives and is determined to assist the community to integrate ‘sports’ and ‘leisure’ into the very fabric of day-to-day lifestyles.

Global Business Magazine

Global Business Magazine

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