Ashraq Development Company Announces New Investment Opportunity for Outdoor Advertising in Dammam Metropolitan Area

Logo of Ashraq Development Company

Ashraq, the development arm of the Eastern Province Municipality, announced the launch of a new investment opportunity in outdoor advertising on municipal assets in Dammam Metropolitan Area as part of the strategy for developing outdoor advertising within Saudi cities, an initiative by the Ministry of Municipalities and Housing that was approved by the Council of Ministers in line with the goals of Saudi Vision 2030.

The strategy for developing outdoor advertising aims to regulate the market, enable diverse investment models for partnership with the private sector, increase the maximum contract duration, automate the procedures for launching investment opportunities, and enable digital transformation in advertising, improving the overall urban landscape.

In this regard, His Excellency is the Mayor of the Eastern Province and Chairman of the Board of Directors at Ashraq, Eng. Fahad Mohammed AlJubair explained that the launch of the investment opportunity for outdoor advertising aims to regulate the outdoor advertising market and empower the private sector through various investment partnerships, which will positively reflect on improving the quality of life for residents and visitors of the Eastern Province and maintain its standing as one of the world's smart cities.

The CEO of Ashraq, Eng. Zaki Hassan AlOmran, added that the investment opportunity in outdoor advertising comes as a continuation of the efforts done by the Ministry of Municipalities and Housing and the Eastern Province Municipality in developing the outdoor advertising strategy and aims to enhance the partnership with the private sector and contribute towards enabling digital transformation in outdoor advertising and unifying the advertising identity in the Eastern Region.

AlOmran added that the outdoor advertising opportunity was designed in accordance with the best practices and will contribute to achieving sustainability in development, improving the urban landscape, and raising the quality of life in the Eastern Province. He also added that the opportunity is available for outdoor advertising companies, whether they are local, regional, or global.

Ashraq invites interested companies to view the details of the opportunity on the “Furas” platform and to visit the company's website and its accounts on social media to stay updated with the latest developments regarding the opportunity.