Riyadh - Mubasher: Arabian Contracting Services Company (Al Arabia) has been awarded a licensing contract worth SAR 9.26 million (EGP 46.79 million) to install billboards on Egypt’s north coast.
Under the deal, Al Arabia will exploit 17 sites to install 174 digital billboards on roads and bridges on the north coast, according to a recent bourse disclosure.
The contract has been awarded to Al Arabia through its arm, Arabiya United for Advertising Service.
The Saudi company is expected to sign the one-year deal on 1 September 2022.
Last December, Al Arabia penned an agreement to launch its services in the most-populous Arab nation.
In the first quarter (Q1) of 2022, Al Arabia logged net profit after Zakat and tax worth SAR 64.89 million, a 119.03% year-on-year (YoY) leap from SAR 29.62 million.