Palm Sports signs Dhs7m contract with Abu Dhabi government entity

Palms Sports, a subsidiary of Abu Dhabi-based International Holding Company (IHC) has signed an annual contract worth Dhs7m with an entity in the Abu Dhabi government to provide combat sports and jiu-jitsu training over five years.

As part of the agreement, Palm Sports will cover an entire lifecycle of training and sports programme management for the government entity’s members with athletic programmes run throughout the year by 48 specialised coaches and instructors.

Palms Sports is a UAE-based company that promotes sporting activities, focusing on jiu-jitsu, mixed martial arts, and combat sports. It had over 780 employees and assets of Dhs344.5m as of September 2020.

The company recently listed on the ADX Second Market in December 2020 under the name “PALMS”.

Read: Abu Dhabi UAE’s Palms Sports lists shares on Abu Dhabi bourse

Fouad Fahmi Darwish, CEO and MD of Palms Sports, said: “Alongside our community initiatives which inspire the UAE’s population to take up rewarding activities like Jiu-Jitsu, mixed martial arts, and combat sports, Palms Sports offers extensive professional-quality training and sports business solutions.”