| Element List | Explanation |
|---|---|
| Introduction | Arabian Contracting Services Co. announces that Faden Media Company, one of the subsidiaries owned 100% by Arabian Contracting Services Co. was awarded a project of establishing, operating, and maintaining advertising billboards on the buildings' facades in various sites of Riyadh City - the third contract, which was offered by Remat Al-Riyadh Development Company -that serves as the development arm of the Riyadh Municipality and is responsible for managing the outdoor advertising portfolio- the duration of the project is 10 years including of a preparation period extending up to 6 months and the business model of this project is annual lease payments. |
| Date of Award | 2024-03-27 Corresponding to 1445-09-17 |
| Counterparty | Remat Al-Riyadh Development Company |
| Project Value | SAR 501,500,000 (excluding value-added tax). |
| Project Details | The scope of the project includes 3 separate buildings on the roads and streets of Riyadh City that were identified by Remat Al-Riyadh Company, where the total number of billboards that will be installed on the buildings' facades is 6 fully digital billboards with formats estimated at 40 meters and larger for the one billboard. |
| Related Parties | N/A |
| Additional Information | Remat Al-Riyadh Company has offered a series of investment opportunities for establishing, operating, and maintaining advertising billboards on the buildings' facades in various sites of Riyadh City, and the fourth contract of these opportunities has been awarded to Faden Media Company, as announced on the Tadawul website. |
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