The UAE subsidiary of Saudi-listed Arabian Contracting Services Company (Al Arabia) has signed an advertising billboard contract worth 522.84 million UAE dirhams ($142.35 million) with Dubai’s Roads and Transport Authority (RTA).

Under the contract, Al Arabia OOH Digital Company will get the rights to install, operate and maintain 294 advertising billboards across Dubai, including Sheikh Rashid Al Maktoum Road, Al Khail Road, Umm Suqeim Road and Al Khawaneej Street.

These billboards include 85 digital and 209 static ones of different types and sizes, Al Arabia said in a statement to the Saudi stock exchange on Wednesday.

The contract duration is 10 years and five months, including a preparation period extending up to 31 days for the static billboards and 182 days for the digital billboards.

The business model of the contract includes quarterly lease payments, the statement added. 

(Editing by Brinda Darasha;