Arabian Contracting Services Co. Announces an update on Faden Media Company, one of the subsidiaries owned 100% by Arabian Contracting Services Co. has signed a contract with Remat Al-Riyadh Development Company for ''establishing, operating, and maintaining advertising billboards on the buildings' facades in various sites of Riyadh City – the fourth contract’’.

Arabian Contracting Services Company announces that on 22/08/1447H, corresponding to 10/02/2026G, an addendum to the main contract referenced above was signed between Faden Media Company, a company owned by Arabian Contracting Services and Remat Al-Riyadh Development Company. The addendum stipulates an extending the contract term by an additional paid period, along with increasing the grace period allocated for preparation and construction by an extra six months., so that the new contract expiry date will become 20/05/1457H, corresponding to 26/07/2035G, instead of the previous expiry date of 20/11/1455H, corresponding to 10/02/2034G. This extension was provided to address the challenges faced by the investor during the period from the signing date of the original contract until the signing date of this addendum.

This extension is a positive step that enhances the potential for achieving planned returns and supports the development of the outdoor advertising sector in Riyadh, in line with the objectives of Saudi Vision 2030.

This step reflects the commitment of the relevant authorities to ensuring the continued success and sustainability of the project, as well as to maintaining joint cooperation in the development of the outdoor advertising sector in Riyadh, thereby contributing to the achievement of Vision 2030.