Al Arabia wins bid to rent 40 billboards in Jeddah for SAR 1 bln

Logo of Arabian Contracting Services Co.

Arabian Contracting Services Co. announced today, Feb. 15, that it has won a bid to rent 40 digital billboards to be installed on bridges and tunnels in Jeddah at a total amount of SAR 1 billion for 10 years, the firm said in a statement to Tadawul.

Total revenue for 2022 is expected to increase by 5%, which will reflect positively on the company's full-year financial results.

The expected date for signing the contract is March 31. There are no related parties.

This step is part of the company's strategy to expand in the field of information technology by increasing the number of digital billboards in multiple regions of the Kingdom.

Taking advantage of opportunities to enter into these projects enhances the company’s competitive position and boosts its market share in Jeddah, which positively affects the company’s performance in the future, the company added.