Riyadh – Mubasher: Arabian Contracting Services Company (Al Arabia) won a bid to establish, operate, maintain, and install billboards in Dammam Metropolitan for 10 years, according to a bourse disclosure.
A total of 1,007 varied billboards will be installed on bridges, tunnels, and city landmarks in Dammam, Khobar, and Dhahran across the Eastern Province.
The agreement also includes two digital areas in Dammam and Khobar, advertising screens on building facades, as well as 20 billboards on idle lands and buildings under construction and restoration.
Furthermore, the sites hold 1,000 advertising spaces on buses and taxis for three years. This is in addition to temporary ads for promotional purposes on municipal assets, which are determined by the Municipality.
In line with the Saudi Vision 2030, Al Arabia seeks to boost the outdoor advertising sector across the Eastern Province in accordance with the identity and economies of each city.
The Tadawul-listed firm highlighted that it was awarded the project on 7 June 2023, adding that the deal’s value will be disclosed upon signing of the contract.
In the first quarter (Q1) of 2023, the company’s net profits after Zakat and tax hit SAR 90.82 million, up 39.96% year-on-year (YoY) from SAR 64.89 million.