Boulevard World ad deal to impact Q4 2023 financials: Al Arabia

09/11/2023 Argaam
Logo ofArabian Contracting Services Co.

Logo of Arabian Contracting Services Co.

Arabian Contracting Services Co. (Al Arabia) announced today, Nov. 9, that the financial impact of its exclusive advertising rights contract with Sela Co. for Boulevard World, Riyadh, will start reflecting in Q4 2023 results.

 

In a statement to Tadawul, the company said that it is currently unable to determine the expected returns of the deal as it depends on the project's actual sales which vary across different brackets.

 

On Nov. 7, Al Arabia sealed a three-year renewable contract with Sela for the investment, sale, and marketing of the exclusive advertising rights of the Boulevard World project in Riyadh, contingent on mutual consent and contractual terms, according to data compiled by Argaam.

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