Al Arabia signs MoU with Multiply Group to invest in outdoor advertising

Logo of Arabian Contracting Services Co. (Al Arabia)

Arabian Contracting Co. (Al Arabia) signs a memorandum of understanding (MoU) with Multiply Group's media vertical for the creation of a joint entity to invest in the global out-of-home advertising sector, strengthen global presence and support expansion plans into international markets.

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According to a statement to Tadawul, Al Arabia said that the collaboration seeks to explore the best opportunities for joint acquisitions and investments in outdoor advertising, with an emphasis on expanding into markets outside the Middle East and North Africa region.

The MoU includes a key provision aimed at exploring joint investment prospects in technology and artificial intelligence in outdoor advertising. This is central to the future transformations, with a focus on developing innovative advertising platforms that rely on advanced technologies, such as digital advertising display platforms.

These advanced technologies contribute to enhancing the efficiency of reaching targeted audiences and achieving greater sustainability for the segment, along with integration into the future advertising ecosystem.

Al Arabia pointed out that the duration of the MoU is 90 days, with the possibility of extension. There is no immediate financial impact resulting from this MoU, as it serves as a framework for exploring the potential establishment of joint ventures and future investment opportunities.

The MoU is a significant step in stimulating investor interest in opportunities that promise attractive returns and in attracting technical partners seeking expansion. It also enhances the positions of both companies as key players capable of keeping up with the future of the advertising segment, which is undergoing substantial transformations.

Al Arabia further highlighted that the MoU marks the beginning of a new chapter of international cooperation between the two companies, where they will work together to develop advanced advertising technology solutions.

This cooperation will strengthen their leadership in the advertising field amid the rapid changes taking place in this vital economic segment.

This partnership represents an important leap toward achieving their shared vision of expanding business scope and offering innovative advertising solutions that meet the needs of global markets, contributing to creating new investment opportunities and ensuring sustainability in the segment.