Dubai has established a new media company called “Mada Media,” which will oversee advertising sites throughout the emirate, including those that the Dubai Roads and Transport Authority (RTA) currently oversees. In his capacity as the UAE’s Prime Minister, Vice President, and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum issued a new decree known as Law No. (20) of 2024.
Mada Media will carry out research, maintain regulatory compliance, invest in adtech, and manage, develop, and run advertising sites. The company will receive the assets, rights, and obligations of RTA, Dubai Municipality, and other relevant entities in collaboration with the Dubai Investment Fund. The private joint stock company (PJSC) Mada Media will oversee the development, management, and operation of advertising sites located throughout Dubai. To accomplish its goals both inside and outside the emirate, it has the power to enter into partnerships, own property, and enter into agreements with other parties.
Read More: OpenX Appoints Clay Gill as Regional VP, Buyer Development, APAC
The Crown Prince of Dubai, Sheikh Hamdan bin Mohammed Al Maktoum, announced the formation of the Mada Media board of directors. Mattar Mohammed Al Tayer will serve as the board’s chairman, and Hussain Mohammed Al Banna will serve as vice chairman. Wissam AlAbbas Hussain Lootah, Shehad Hamad Bu Shehab, Moaza Saaed Al Maari, Ahmad Hassan Mahboub, Mariam Obaid Al Muhairi, Mohammed Yousef Al Mudharreb, and Saeed Mohammed Al Maari are among the other members.
The company’s operations will be overseen by the Commissioner General for the Infrastructure, Urban Planning, and Well-Being Pillar in Dubai, whose powers and responsibilities are outlined in the “Articles of Association” as stipulated by law.
The Roads and Transport Authority (RTA) of Dubai and the Dubai Municipality are authorized by law to assign all or a portion of their advertising-related responsibilities and permit issuance to Mada Media under the terms of the concession agreement. The purpose of delegating these kinds of tasks is to help the business achieve its goals. The legislation also specifies the methods for share ownership and subscription, the authority of the Board of Directors, and the financial and human resources that the company may use. The Chairman of the Executive Council of Dubai may set the ratios at which the company’s shares are available for public subscription.
This decision will be published in an official gazette and take effect immediately.
Read More:Â Platformance Names Hamza Madi as General Manager for Emerging Markets and Solutions
