Al Arabia close to finish due diligence to rent billboard sites in Egypt

Arabian Contracting Services Co. (Al Arabia) is nearing the completion of due diligence works to rent sites for billboard installation with an 89% coverage of bridge sites in El-Alamein City, Egypt.

Al Arabia is to finalize examining the parties’ joint cooperation aspects, to reach a final agreement on the terms of the contract.

In a statement to Tadawul, the company pointed out that any developments will be duly announced.

According to data compiled by Argaam, Al Arabia expected, last September, to sign a contract to rent sites for the installation of billboards in Egypt by the end of Q4 2022, instead of Sept. 1, 2022.

Al Arabia was awarded, through its arm, United Media Services Co. (UMS), on Aug. 3, a licensing contract for the exploitation of 17 sites on Egypt’s North Coast.