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Arabian Contracting Services Co. Announces Contract Sign Off 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).
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement of Arabian Contracting Services Co. on 26-12-2024, Corresponding to 25-06-1446, regarding that it has been awarded the contract to invest and lease the internal advertising spaces within the King Abdulaziz Public Transport Project in Riyadh (Train and Buses). Arabian Contracting Services Co. would like to announce that on Thursday 01-05-2025 corresponding to 03-11-1446, the agreement has signed with Royal Commission for Riyadh City. |
| Date of Announcement of the Award | 2024-12-26 Corresponding to 1446-06-25 |
| Contract Subject Matter | Invest and lease the internal advertising spaces within the King Abdulaziz Public Transport Project in Riyadh (Train and Buses). |
| The Entity with Which the Contract was Signed | Royal Commission for Riyadh City |
| Date of Signing the Contract | 2025-05-01 Corresponding to 1446-11-03 |
| Contract Value | Revenue sharing and contracting fees with a total value of SAR 563,220,273, excluding VAT for the duration of 10 years. |
| Contract Details | This contract contains 3,666 Billboards. This will be an essential 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 advertising by adopting the latest advertising technologies. |
| Contract Duration | 10 Years, including a preparation period of 6 months. |
| Financial Impact and the Relevant Period | The financial impact of the contract will be reflected in the third quarter of 2025. |
| 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. 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. 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 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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