iPhone | iPad
Android
Huawei
Sheikh Mohamed was met at Cairo International Airport by Egyptian President Abdel Fattah El-Sisi
KT APPDOWNLOAD
Dubai: Sheikh Mohammed announces new company to operate, manage advertising sites
RTA and Dubai Municipality can now delegate all or part of their advertising-related functions and permit issuance to Mada Media Company
A law pertaining to the creation of a company has been issued to manage and operate advertising sites in Dubai.
According to the law, the newly launched company, Mada Media Company, a private joint-stock company (PJSC), is tasked with managing, developing, and operating advertising sites. It is also responsible for investing in advertising technologies, and conducting related research, while also ensuring regulatory compliance.
The law has been issued by Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, Vice President and Prime Minister of the UAE.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
According to the law, Dubai's Roads and Transport Authority (RTA) and Dubai Municipality can delegate all or part of their advertising-related functions and permit issuance to Mada Media.
Further, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, issued a decision forming the Board of Directors of Mada Media, chaired by Mattar Mohammed Al Tayer, with Hussein Mohammed Al Banna serving as Vice Chairman.
Concession agreement
RTA and Dubai Municipality, in coordination with the Dubai Investment Fund and other relevant entities, will transfer their advertising-related assets, rights, and obligations to the company, including system access.
Government entities will facilitate the transfer and registration of these assets to the company or its subsidiaries in accordance with the concession agreement and applicable provisions.
The law also outlines the mechanisms for subscription and ownership of the company’s shares, the powers of its Board of Directors, and the human and financial resources it may draw upon.
The company’s shares may be offered for public subscription in ratios set by the Chairman of The Executive Council of Dubai.
ALSO READ:
More news from UAE
The Ministry of Interior has introduced new changes to the vehicle and driving licence section on its digital platform
The Bangladeshi and his friends purchased five tickets, with one being the winning one
The Chief Executive Officer of OCS International Finance Limited was also fined Dh682,631
'We are monitoring the situation closely and will amend our flight schedule if required,' the spokesperson noted
Registration of bidders starts on Monday, October 7, and bidding will take place at Jumeirah Beach Hotel
The country has been successfully producing fresh vegetables, thus boosting supply and giving consumers more affordable options
Starstruck children were seen smiling from ear to ear as they met Sheikh Mohamed