Saudi Arabia’s Arabian Contracting Services Company (Al Arabia) said its UAE subsidiary has won an AED 522.84 million ($142.35 million) contract from Dubai’s Roads and Transport Authority to install, operate, and maintain advertising billboards across the emirate.

The contract was awarded to Al Arabia OOH Digital Co., which is 60% owned by Al Arabia’s wholly owned subsidiary, Al Arabia Out of Home Advertising Co., 10% by Saudi Arabia’s Mawaqie for Advertising Company and 30% owned by a UAE partner, Al Arabia said in a statement published on the Saudi stock exchange on Tuesday.

The contract duration is 10 years and five months, which includes a preparation period of up to 31 days for the static billboards and 182 days for the digital billboards.

The total number of ad billboards stands at 294 - 85 digital and 209 static - across various areas of Dubai, including Sheikh Rashid Al Maktoum, Al Khail, Umm Suqeim, and Al Khawaneej roads, the statement added.

(Editing by Seban Scaria seban.scaria@lseg.com)