New Law Grants Mada Media Authority Over Advertising Management for RTA and Dubai Municipality
Dubai’s advertising landscape is set for a transformation following the launch of Mada Media Company, a private joint-stock company (PJSC) established to manage, develop, and operate advertising sites across the emirate. The company was created under a new law issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, Vice President and Prime Minister of the UAE.
Mada Media is tasked with overseeing advertising operations in Dubai, including investment in innovative advertising technologies, conducting research, and ensuring regulatory compliance. The move aims to streamline the management of advertising across the city, enhancing operational efficiency and fostering technological advancements in the sector.
The Roads and Transport Authority (RTA) and Dubai Municipality will now have the ability to delegate their advertising-related responsibilities, including permit issuance, to Mada Media. This includes the transfer of advertising assets, rights, and obligations, in coordination with the Dubai Investment Fund and other relevant entities, under a comprehensive concession agreement.
Formation of Board and Leadership
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE, has appointed Mattar Mohammed Al Tayer as the Chairman of the Board of Directors for Mada Media, with Hussein Mohammed Al Banna serving as Vice Chairman. This leadership team will be instrumental in steering the company’s vision and ensuring alignment with Dubai’s long-term goals.
Future Public Offerings and Share Subscription
The law also sets out guidelines for subscription and ownership of the company’s shares, opening the possibility for public subscription. The exact share ratios will be determined by the Chairman of The Executive Council of Dubai, presenting potential opportunities for investors.
Mada Media’s creation represents a significant step towards modernizing Dubai’s advertising industry, enhancing strategic planning, and contributing to the emirate’s economic growth. Through its innovative approach and regulatory oversight, the company is set to play a pivotal role in shaping the future of advertising in Dubai.
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