Riyadh Awards Billboard Operation Contracts Worth $4.26Bn

RIYADH: Advertising billboard deals worth SR16 billion ($4.26 billion) have been awarded by the Riyadh Municipality to a range of firms.

Represented by Remat Al-Riyadh Development Co. at an event to mark the agreements, the contracts included one of the world’s largest flat screens, according to the Saudi Press Agency.

On behalf of the alliance that won the first contract, which includes external billboards on municipal assets, CEO of Al Arabia Mohamed Al-Khereiji said that this cooperation will support the vision of the smart capital and its digital trends. 

This development is expected to enhance the city’s appeal, positioning it as an attractive hub for the digital advertising industry. 

In addition to this, the deal will help provide a global digital model for the capital with more distinguished sustainability and quality, and will also contribute to making Riyadh one of the top 10 global cities, Al-Khereiji added. 

Similarly, on behalf of the alliance that secured the second contract, which included a partnership for billboards on the facades of buildings across the city, CEO of Rotana Studios & TV Walid Arab Hashem, clarified that this is in pace with the Kingdom’s Saudi Vision 2030, indicating that winning the contract signals a new challenge and phase for his company.

Speaking at the event, held at the Al-Faisaliah Hotel in the Saudi capital, Riyadh Gov. Prince Faisal bin Bandar said: “We are living in a period that we must take advantage of with hard and fruitful work, so I say to everyone: ‘This Riyadh is for you, and it requires more work from you.’”

A signal was given to start changing the billboards in the city, which was seen through a live display of drones in the sky.

Established by the municipality at the end of 2021, Remat Al-Riyadh Development Co. aims to contribute to achieving the city’s ambitious goals. 

Since its founding, the firm has worked rapidly to achieve its objectives, unlocking numerous investment and development opportunities for the city while collaborating with multiple partners, according to SPA.