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Arabian Contracting Services Co. announces that Al Arabia OOH Digital Company (Emirati Company) has signed a contract to grant the rights for “installing, operating, and maintaining advertising billboards in Dubai City, for a duration of 10 years and 5 months”.
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement of Arabian Contracting Services Co. on 16/01/2024 Corresponding to 04/07/1445, regarding that Al Arabia OOH Digital Company (Emirati Company) has awarded a contract to grant the rights 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. Arabian Contracting Services Co. would like to announce that on Wednesday 28/02/2024 corresponding to 18/08/1445, Al Arabia OOH Digital Company signed a contract to grant the rights for installing, operating, and maintaining advertising billboards in Dubai City with the roads and transport authority in Dubai City, and the business model of this contract is quarterly lease payments. |
| Date of Announcement of the Award | 2024-01-16 Corresponding to 1445-07-04 |
| Contract Subject Matter | A contract of granting the rights for installing, operating, and maintaining advertising billboards in Dubai City. |
| The Entity with Which the Contract was Signed | The Roads and Transport Authority (RTA) in Dubai City. |
| Date of Signing the Contract | 2024-02-28 Corresponding to 1445-08-18 |
| Contract Value | UAE 522,839,375 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. |
| Contract Duration | 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. |
| Financial Impact and the Relevant Period | The financial impact of the contract will become apparent in the third quarter of 2024. |
| 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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