In the world of finance and business, great fortunes are not always built on oil or real estate. Sometimes they emerge from a simple idea, one a person believes in at a time when no one else is paying attention. That is precisely what Hamad Ali Al-Sagri did. He bet on the fitness industry in Saudi Arabia long before it became a mainstream culture, and today he stands among the wealthiest Arabs with a net worth exceeding one billion dollars.
Early Life and Upbringing
Hamad Ali Al-Sagri was born in Saudi Arabia in the late 1950s and raised in a traditional Saudi environment where commerce was the natural path to building a future. The road was never easy, but he learned early that success demands patience and long-term vision. He gained his first business experience working across various commercial sectors, a formative period that sharpened his entrepreneurial instincts and gave him a deep understanding of the Saudi market and its needs. Now in his late sixties, Al-Sagri remains a commanding presence in the Saudi business landscape.
Professional Career and the Founding of the Holding Group
In 2003, Al-Sagri made a pivotal move by establishing Hamad Ali Al-Sagri Holding Company. It was not a single venture, but an umbrella for multiple business activities through which he sought to diversify his investments and build a solid portfolio. The group included Stallup, a company specializing in the supply of lubricants, a vital sector tied to industry and transportation in the Kingdom, as well as Huwailan Consulting, where he leveraged his accumulated expertise to deliver integrated business solutions. This phase served as the foundation that provided him with the financial strength and experience required for his next major move.
The Big Bet: Founding “Fitness Time”
The real turning point came in 2008, when Al-Sagri co-founded Leejam Sports Company, known commercially as Fitness Time. The timing was far from easy, the gym industry in Saudi Arabia had yet to mature, and many believed the local market was not ready for this type of investment. But Al-Sagri read the landscape differently. He saw a young society gradually shifting toward healthier lifestyles, and a significant gap between growing demand for sports facilities and the limited supply of quality, affordably priced centers.
He was not building an ordinary gym. He was building an integrated sports ecosystem. Fitness Time centers go far beyond weights and cardio machines, they feature more than 162 swimming pools, cycling studios, running tracks, basketball and football courts, and a wide range of other sports facilities. This comprehensive model made Fitness Time the go-to destination for a broad segment of Saudis and residents, giving it a clear competitive edge over rivals who offered far more limited services.
Key Achievements and International Recognition
International validation of what Al-Sagri had built came in 2013, when Investcorp Bahrain, one of the most prominent private equity firms in the Middle East, acquired a 25% stake in Leejam. This was more than a financial transaction; it was a clear signal from seasoned investors that Al-Sagri’s business model was not only successful, but scalable and sustainable over the long term.
The next chapter was Leejam’s listing on the Saudi Stock Exchange (Tadawul) in 2018, a decision that unlocked an accelerated growth trajectory impossible to achieve as a private company. Today, the company operates more than 223 sports centers across Saudi Arabia and the UAE, generating revenues of approximately $400 million in 2024.
Wealth and Global Rankings
Al-Sagri holds approximately 51% of Leejam Sports’ shares, a stake that has lifted his net worth to $1.1 billion, according to Forbes Middle East’s Arab Billionaires ranking for 2025, placing him at number 36. His holding group was also named among the Top 100 Arab Family Businesses for 2025 by Forbes, confirming that what he has built transcends a mere commercial venture to become a truly enduring family institution.
Family Legacy and Leadership Transition
Al-Sagri did not build this empire alone. He brought his family into the fold from the beginning. His son, Ali bin Hamad Al-Sagri, now serves as Chairman of Leejam’s Board of Directors, a seamless transition that reflects the father’s intent to establish a lasting family legacy beyond the founding generation. Al-Sagri himself continues in his role as Vice Chairman and Managing Director, steering the company with the wisdom of decades of tireless work.
A Vision Ahead of Its Time
What sets Hamad Al-Sagri apart from many of his peers is that he did not gravitate toward safe, traditional sectors. He chose an industry that was considered peripheral two decades ago and transformed it into a multi-hundred-million-dollar enterprise. In the era of Vision 2030, which has placed quality of life and public health at the forefront of the Kingdom’s national priorities, it is clear that Al-Sagri’s bet was ahead of its time by many years. His story is not simply one of wealth, but a practical lesson in the truth that real success comes from the courage to choose a road no one else has taken, and the patience to nurture it until it flourishes.
