Al Arabia inks SAR 336.5M advertising services contract

Arabian Contracting Services Co. (Al Arabia) signed a contract with Wave Media Co. to provide non-exclusive advertising services, with an average annual value of SAR 336.56 million, excluding VAT.

In a statement to Tadawul, the company said the contract was signed on June 8, for a duration of three years.

The contract covers marketing and selling advertising spaces, advertisements, and advertising campaigns on existing outdoor advertising billboards, comprising a network of Megacom, Super Megacom, Mupi, and Super Mupi billboards located in Jeddah, Arar, Jazan, and Hail, in accordance with the terms and conditions of the contract and the applicable laws and regulations.

The counterparty is considered a related party due to the company’s indirect ownership interest in Wave Media through an investment fund. The agreement was entered into on an arm’s length basis and without any preferential terms, the statement added.

The financial impact will be reflected starting from Q2 2026, Al Arabia noted.