Al Arabia and Multiply Group Forge Alliance to Expand Global Outdoor Advertising

Al Arabia Outdoor Advertising and Multiply Group's media vertical have formalised a Memorandum of Understanding to establish a joint entity dedicated to investing in the global out-of-home advertising sector. This strategic partnership aims to enhance both companies' international presence and facilitate expansion into new markets.

The collaboration will focus on identifying and pursuing joint acquisitions and investments in outdoor advertising, with a particular emphasis on markets beyond the Middle East and North Africa region. By pooling their resources and expertise, Al Arabia and Multiply Group intend to capitalise on emerging opportunities in the global OOH advertising landscape.

Al Arabia Outdoor Advertising, a subsidiary of Arabian Contracting Services Company, has been actively expanding its footprint. Notably, the company secured a significant contract with Dubai's Roads and Transport Authority to install, operate, and maintain 294 outdoor advertising billboards across the emirate. This 10-year agreement, valued at over $142 million, underscores Al Arabia's commitment to broadening its regional influence.

In parallel, Multiply Group has been strengthening its position in the media and communications sector. The Abu Dhabi-based investment holding company acquired a 55% majority stake in Media 247, a prominent outdoor advertising firm in the UAE, for $61 million. This acquisition aligns with Multiply Group's strategy to diversify its portfolio and enhance its presence in the media industry.