Riyadh: Remat Al-Riyadh Development Company--the development arm of the Riyadh municipality--announced the launch of investment opportunities in outdoor advertising in the city of Riyadh. These opportunities include new advertising formats that will be activated for the first time in Riyadh.
The Deputy Mayor of Riyadh Municipality for Investment and Privatization, Eng. Salman Al-Dahmash, explained that these opportunities are part of the Riyadh advertising masterplan, which was previously announced.
The plan includes enabling new advertising formats, such as advertising on building fronts, idle lands, and public taxis and buses in appropriate quantities. This will enhance the city's aesthetics and prevent the unregulated spread of billboards on streets.
Additionally, this will contribute to improving the urban landscape, enabling digital transformation, and supporting efforts to achieve financial sustainability.
Al-Dahmash also explained that Remat Al-Riyadh Development Company will offer these opportunities. The company seeks to build strategic partnerships with the private sector through innovative investment models.
The CEO of Remat Al-Riyadh Development Company, Mr. Abdullah Abudawood, stated that these opportunities come as an extension of what the company announced upon its inception. The company is providing many possible investment opportunities to enable private-sector participation and contribute to unleashing the potential of the Riyadh region. This will upgrade the level of services and municipal projects that aim to improve the urban landscape, raise the level of quality of life for the residents and visitors of the Riyadh region, and achieve sustainability in the urban development of the region.
Abudawood said the company will offer three new opportunities in the first bundle. Two of these opportunities are for building fronts on premium roads in Riyadh, including King Fahd Road, Prince Turki bin Abdulaziz Alawwal Road, and Northern Ring Road. The third opportunity is for advertisements on idle lands. During the coming period of the year 2023, the second bundle will be launched, which includes a package of additional opportunities for the same formats, in addition to advertisements on public taxis and buses. The company aims to create unique investment opportunities according to innovative business models of partnership with the private sector to implement iconic projects that add value to the city of Riyadh and keep pace with the latest changes in this advertising sector.
Remat Al-Riyadh Development Company invites all interested investors to view the details of the opportunities offered through the "Furas" portal. Additionally, interested parties can visit the company's official website and its social media accounts to follow up on all the new investment opportunities that it is offering.