Riyadh - Mubasher: Arabian Contracting Services Company (Al Arabia) awarded Al Arabia OOH Digital Company a project contract at a value of AED 522.83 million (SAR 533.85 million) on 15 January 2024.
The deal covers installing, operating, and maintaining advertising billboards in Dubai, which was offered by the Roads and Transport Authority (RTA), according to a bourse disclosure.
The total number of advertising billboards stands at 294 located across various areas in the Emirate, including Sheikh Rashid Al Maktoum Road, Al Khail Road, Umm Suquim Road, and Al Khawaneej Street.
Meanwhile, the billboards include 85 digital billboards and 209 static billboards of different types and sizes with the ability to transform the static billboards into digital billboards.
The contract holds a duration period of 10 years and 5 months, including a preparation period extending up to 31 days for the static billboards and 182 days for the digital billboards.
Al Arabia plans to widen its geographical presence and provide distinctive services to various client segments. This is in addition to boosting its leadership in the outdoor advertising sector in the Middle East region to strengthen its market share locally and regionally.
It is worth highlighting that the UAE entity is jointly owned by Al Arabia Out of Home Advertising Company, a fully-owned subsidiary of listed Al Arabia, Saudi advertising firm Mawaqie, and an Emirati partner.
In November 2023, Al Arabia fully acquired Faden Media at a total value of SAR 1.05 billion.
