Dubai has officially launched a new entity, Mada Media Company, to oversee the management and operation of advertising sites across the city. The law establishing the private joint-stock company (PJSC) was issued by Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, Vice President, and Prime Minister of the UAE.
Mada Media’s core responsibilities include managing, developing, and operating advertising sites, along with investing in advertising technologies and conducting research to drive innovation in the sector. The company is also tasked with ensuring compliance with all relevant regulations.
Under the new law, Dubai’s Roads and Transport Authority (RTA) and Dubai Municipality may delegate some or all of their advertising-related duties, including the issuance of permits, to Mada Media.
. @HHShkMohd issues law establishing Mada Media Company, a private joint-stock company, to manage and operate advertising sites in #Dubai.https://t.co/zjANqqRdqi pic.twitter.com/YDqjLj3i2B
— Dubai Media Office (@DXBMediaOffice) September 12, 2024
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, has appointed a Board of Directors for the company, chaired by Mattar Mohammed Al Tayer, with Hussein Mohammed Al Banna serving as Vice Chairman.
The RTA and Dubai Municipality, in collaboration with the Dubai Investment Fund and other relevant entities, will transfer their advertising assets, rights, and obligations to Mada Media. This transition includes access to systems and infrastructure necessary for operations, as outlined in the concession agreement.
The law also provides a framework for the company’s shares, detailing subscription mechanisms, ownership structures, and the powers granted to the Board of Directors. Additionally, a portion of the company’s shares may be offered for public subscription, with ratios to be determined by the Chairman of Dubai’s Executive Council.
