Khaleej Times, 12 September 2024: A private joint-stock company (PJSC) named Mada Media Company has been launched.
This company is tasked with managing, developing, and operating advertising sites.
It is also responsible for investing in advertising technology, conducting related research, and ensuring regulatory compliance.
The law allows Dubai’s Roads and Transport Authority (RTA) and Dubai Municipality to delegate all or part of their advertising-related functions and permit issuance to Mada Media.
A concession agreement will facilitate the transfer and registration of advertising-related assets, rights, and obligations from government entities to the company or its subsidiaries.
The law outlines 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 use.
The company’s shares may be offered for public subscription in ratios determined by the Chairman of The Executive Council of Dubai.

For more news and content, try Lexis Middle East. Click on lexis.ae/demo to begin your free trial of Lexis® Middle East platform.

You can also explore the legal landscape by subscribing to our Weekly Newsletter.

Want to learn more about Lexis® Middle East? Visit https://www.lexis.ae/lexis-middle-east-law/.