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Arabian Contracting Services Co. announces the award of a contract to grant the rights to Al Arabia OOH Digital Company (Emirati Company) for “installing, operating and maintaining advertising billboards in Dubai City, for a duration of 10 years and 5 months”.
| Element List | Explanation |
|---|---|
| Introduction | Arabian Contracting Services Co. announces the award of a contract to grant the rights to Al Arabia OOH Digital Company (Emirati Company) for installing, operating and maintaining advertising billboards in Dubai City, for a duration of 10 years and 5 months, which was offered by the roads and transport authority in Dubai City. This contract was awarded through the establishment of an Emirati Company called Al Arabia OOH Digital Company and it is jointly owned between Al Arabia Out of Home Advertising Company (a subsidiary owned 100% by Arabian Contracting Services Co.) with 60% ownership, Mawaqie for advertising company (a Saudi Company) with 10% ownership and an Emirati partner with 30% ownership. Through this step, Arabian Contracting Services Co. aims to expand its geographical presence and complete al arabia’s network and its digital advertising solutions, to provide distinctive services to various client segments, as well as enhance its leadership in the outdoor advertising sector in the Middle East region, to elevate and maintain its leading position, and strengthen its market share locally and regionally. |
| Date of the Award | 2024-01-15 Corresponding to 1445-07-03 |
| Counterparty | The Roads and Transport Authority (RTA) in Dubai City. |
| Contract Value | 522,839,375 UAE Dirhams which is equivalent to SAR 533,851,291. |
| Contract Details | The total number of advertising billboards is 294 located in various areas in the Emirate of Dubai, including Sheikh Rashid Al Maktoum Road, Al Khail Road, Umm Suquim Road and Al Khawaneej Street. These 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, as follows: 1- 143 billboards of Megacom type, including 63 digital billboards and 80 static billboards. 2- 18 billboards of Unipoles type, including 12 digital billboards and 6 static billboards. 3- 23 billboards of Bridge banner type, including 10 digital billboards and 13 static billboards. 4- 110 static billboards of Lamppost type. The duration of the contract is 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. |
| Related Parties | N\A |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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