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ADVERTISING-
Saudi-Emirati JV lands billboard contract from RTA Dubai: The Roads and Transport Authority (RTA) in Dubai has awarded an SAR 534 mn contract to a Saudi-Emirati joint venture to install, operate and maintain 294 advertising billboards in Dubai, according to a Tadawul regulatory filing. The contract runs for 10 years and 5 months.
About the JV: The company is jointly owned by Al Arabia Out of Home Advertising — a subsidiary of Arabian Contracting Service — with a 60% stake, local Mawaqie for Advertising Co. with a 10% stake, and the rest of the shares are owned by an Emirati company, the name of which was not included in the filing.
CONSTRUCTION-
Keir to build housing for employees in Neom: Keir International has inked a SAR 25.2 mn contract with Arail Construction and Industrial to provide housing for non-administrative employees in Sindalah, it said in a disclosure to Tadawul. The six-month contract will see it deliver manufacture, supply, and delivery of housing facilities.
MINING-
Royal Roads Arabia (RRA) has acquired an exploration license for the Jabal Sahabiyah concession in Asir, according to a Tadawul regulatory filing. The project will see RRA commit a minimum of USD 5.5 mn (SAR 20.65 mn) over the first five years of the license. RRA is a 50-50 JV between Toronto-listed Royal Road Minerals (RRM) and MSB Holding. They have the option of renewing the license, awarded by the Industry and Mineral Resources Ministry, every five years for up to 15 years.
SPORTS-
4Globalhas landed contracts worth a combined GBP 800k from unnamed Saudi clients, according to a press release. The first contract commits the sports data firm to providing an assessment of the worth and the operational feasibility of a number of sporting facilities in a bid to draw investments into the undisclosed facilities. A second contract will see the London-listed company recommend investments in the sports sector with the aim of maximizing the client’s ROI. No further information was available.
