His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, has enacted Law No. (20) of 2024, creating Mada Media Company, a private joint-stock company (PJSC) tasked with managing and operating advertising sites throughout Dubai.
The new entity will oversee the development, operation, and investment in advertising technologies, and conduct related research while ensuring compliance with regulatory standards.
Mada Media is also authorized to form partnerships, acquire assets, and enter into contracts to achieve its goals both within Dubai and internationally. The law appoints the Commissioner General for the Infrastructure, Urban Planning, and Well-Being Pillar to supervise the company's operations.
In addition, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, approved the company's Articles of Association through Decision No. (79) of 2024, which outlines the rules and provisions governing Mada Media. Decision No. (80) of 2024 established the Board of Directors, chaired by Mattar Mohammed Al Tayer, with Hussein Mohammed Al Banna as Vice Chairman. The Board includes Wissam AlAbbas, Hussain Lootah, Mariam Obaid Al Muhairi, Mohammed Yousef Al Mudharreb, Ahmad Hassan Mahboub, Moaza Saeed Al Marri, Shehab Hamad Bu Shehab, and Saeed Mohammed Al Marri.
The law also empowers Dubai’s Roads and Transport Authority (RTA) and Dubai Municipality to delegate advertising-related functions and permit issuance to Mada Media. This delegation supports the company in meeting its objectives. Both entities, along with the Dubai Investment Fund and other relevant parties, will transfer their advertising assets and rights to Mada Media, facilitating the registration and transfer of these assets as outlined in the concession agreement.
The company’s shares may be offered for public subscription in proportions determined by the Chairman of The Executive Council of Dubai. The establishment of Mada Media marks a significant step in streamlining and enhancing Dubai’s advertising sector.
News Source: Emirates News Agency
