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Arabian Contracting Services Co. Announces Project Award with the Royal Commission for Riyadh City for a duration of 10 years to invest and lease the internal advertising spaces within the King Abdulaziz Public Transport Project in Riyadh (Train and Buses).
| Element List | Explanation |
|---|---|
| Introduction | Arabian Contracting Services Co. Announces Project Award with Royal Commission for Riyadh City to invest and lease the internal advertising spaces within the King Abdulaziz Public Transport Project in Riyadh (Train and Buses). The project awarded on 25 December 2024 and offered by the Royal Commission for Riyadh City for a duration of 10 years. This award represents an important step towards the development of the advertising sector, especially in public transportation project, contributing to the enhancement of the interaction experience with passengers. The company aims to expand in the advertising field by adopting the latest technologies in advertising. In alignment with the Vision 2030 goals and the National Transformation Program. Additionally, it aims to enhance the integration of its advertising network in Riyadh to include the exclusiveness of the internal advertising spaces within the King Abdulaziz Public Transport Project, the outdoor advertisements of all types in Riyadh, and the billboards at Khalid International Airport, thereby supporting the company's market share. |
| Date of Award | 2024-12-25 Corresponding to 1446-06-24 |
| Counterparty | Royal Commission for Riyadh City |
| Project Value | Revenue sharing and contracting fees with a total value of SAR 563,220,273, excluding VAT, for a duration of 10 years. |
| Project Details | Project Award with Royal Commission for Riyadh City to invest and lease the internal advertising spaces within the King Abdulaziz Public Transport Project in Riyadh (Train and Buses) for a duration of 10 years. |
| Related Parties | None |
| Additional Information | In line with the company's strategy, this award comes as part of its ongoing efforts to expand its activities in the advertising field. The company aims to adopt the latest advanced technologies to enhance the effectiveness and quality of its services. This approach is not only intended to improve operational efficiency but also to meet the growing market needs and enhance customer experience. Through this project, Arabian Contracting Services Co continues to support the Vision 2030 goals and the National Transformation Program, contributing to the development of the advertising sector in the Kingdom and strengthening its position as a leading force in this field. This step also reflects the company's commitment to innovation and sustainability, enhancing its competitiveness and creating added value for the community. The company will announce further details upon signing the contract. |
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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