Al Arabia signs 7-year exclusive ad agency agreement in DIFC

Logo of Arabian Contracting Services Co.

Arabian Contracting Services Co. signed an agreement with Elevision Media, which owns the full advertising rights of the Dubai International Financial Center (DIFC), to become an exclusive agent for advertising services in DIFC and its related areas.

The term of the seven-year agreement starts on July 1, the company said in a bourse filing today, June 20. It added that the deal might be extended or changed through a mutual written agreement between the two parties.

Arabian Contracting was appointed as an exclusive representative of Elevision Media in the outdoor advertising portfolios and granted exclusive rights to identify and attract customers and businesses to expand and develop its regional businesses.

Elevision Media will expand its business of developing digital screens in new markets, provided Arabian Contracting promotes them exclusively within its advertising networks.

The financial impact of the agreement will be reflected starting Q4 2022, as the income from the operations resulting from this agreement will be shared between the parties on a revenue-sharing model as per the previously agreed percentage.

Meanwhile, a study was also conducted on the possibility of the Arabian Contracting acquiring a majority stake in Elevision Media to expand in the region and increase the advertising network by strengthening the company’s strategy by investing in digital screens.

Any material developments will be announced immediately.

DIFC, located in the UAE, is a leading financial hub for the Middle East, Africa, and South Asia (MEASA). It houses a variety of world-renowned retail and dining venues, luxury residential apartments, hotels, and public spaces.