Al Arabia signs contract for investment in exclusive ad rights of Boulevard World

Logo of Arabian Contracting Services Co.

Arabian Contracting Services Co. (Al Arabia) signed a contract with Sela Co. for investment, sale, and marketing of the exclusive advertising rights of the Boulevard World project in Riyadh.

In a statement to Tadawul, the company said the contract is effective for three years and may be renewed upon approval of both parties in accordance with the relevant terms and conditions.

The contract is based on sharing a percentage of the value of the financial returns (net revenue and marketing).

There are 99 digital advertising screens of various types, including a Sphere billboard with innovative spherical design, in addition to 26 Mupi billboards designed creatively and inspired by various cities around the world, as well as 51 wall billboards.

There are also five promotional spaces distributed within the corridors of the Boulevard World area. The total advertising area of the billboards is 8,779 square meters.

The relevant financial impact will be reflected starting in the fourth quarter of 2023, the statement said, adding that there are no related parties to the deal.

Sela, a subsidiary of the Saudi Public Investment Fund (PIF), was established in 1997. The Saudi company developed entertainment facilities across Saudi Arabia. It owns and operates a number of locations, including Via Riyadh, Boulevard Riyadh City, Boulevard World, Riyadh Exhibition, Conference Center, and other locations in Jeddah.

The Boulevard World is an entertainment area that includes various experiences from 10 countries around the world. It includes the largest artificial lake. The area is affiliated with the Riyadh Season activities, with a capacity of up to 3,000 visitors each hour.