A new law has been issued in Dubai pertaining to the management and operation of advertising sites, which will be overseen by a newly established company called Mada Media Company. The company, a private joint-stock company (PJSC), will be responsible for managing, developing, and operating advertising sites, investing in advertising technologies, conducting research, and ensuring regulatory compliance. The law was passed by Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, Vice President, and Prime Minister of the UAE.
The Dubai Roads and Transport Authority (RTA) and Dubai Municipality will be able to delegate their advertising-related functions and permit issuance to Mada Media as per the new law. Additionally, the Board of Directors of Mada Media has been formed, with Mattar Mohammed Al Tayer serving as the Chairman and Hussein Mohammed Al Banna as the Vice Chairman. The law also stipulates the transfer of advertising-related assets, rights, and obligations from RTA and Dubai Municipality to the company, including system access, facilitated by government entities in accordance with the concession agreement.
The law outlines the mechanisms for the subscription and ownership of the company’s shares, the powers of its Board of Directors, and the resources it may utilize. Furthermore, the company’s shares may be offered for public subscription in ratios determined by the Chairman of The Executive Council of Dubai. This move is aimed at streamlining the management and operation of advertising sites in Dubai and ensuring compliance with regulations.
The creation of Mada Media Company signifies a significant step towards centralizing and regulating the advertising industry in Dubai. With the support of government entities and the issuance of a new law, the company is set to play a crucial role in managing, developing, and operating advertising sites in the city. The involvement of key officials such as Sheikh Mohammed bin Rashid Al Maktoum and Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum highlights the importance of this initiative for the continued growth and development of Dubai’s advertising sector.
By delegating advertising-related functions to Mada Media, the RTA and Dubai Municipality are paving the way for a more efficient and streamlined process in managing advertising sites. The formation of the Board of Directors with experienced individuals in leadership positions ensures that the company will be well-equipped to carry out its responsibilities effectively. The transfer of assets and obligations from government entities to Mada Media will undoubtedly strengthen the company’s capabilities and set a solid foundation for its future operations.
The concession agreement between Mada Media, RTA, Dubai Municipality, and other relevant entities is a key component of the new law, outlining the transfer of assets, rights, and obligations to the company. This agreement will ensure a smooth transition of responsibilities and resources, ultimately benefiting the overall management and operation of advertising sites in Dubai. With the issuance of this law and the establishment of Mada Media Company, the advertising industry in Dubai is poised for enhanced efficiency and effectiveness in the years to come.
