Gulf Construction Online - Naming rights for metro stations raise $279m

Saudi Focus

Dignitaries at the ceremony for the naming rights to Riyadh Metro stations.

Naming rights for metro stations raise $279m

01 December 2018

Riyadh Development Authority (RDA) – previously The High Commission for the Development of Arriyadh – has awarded naming rights for eight Riyadh Metro stations to leading commercial organisations from Saudi Arabia and the region, generating a total of SR1.045 billion ($278.7 million) over the 10-year contract period.

The results of the station naming rights auction for the Riyadh Metro network was announced on November 14 at an event.

Each of the winning bidders has been awarded a 10-year contract, which will see their brands featured as the name of a Riyadh Metro station in a naming rights sponsorship deal, said the RDA.

During a ceremony at the Cultural Palace in Riyadh, presided over by HRH Prince Faisal bin Bandar bin Abdulaziz Al Saud, Governor of Riyadh, the new map of the Riyadh Metro network was unveiled, featuring the logo of the winning naming rights partners at their respective stations.

The winning companies, the stations and the chosen station names are:

The Saudi British Bank – Olaya Street/King Salman Road – The Saudi British Bank (Line 1);
Dr Sulaiman Al Habib Medical Group – Olaya Street/Anas bin Malik Road – Dr Sulaiman Al Habib (Line 1);
Alinma Bank – Olaya Street/Musa bin Nosair Street – Alinma Bank (Line 1);
Bank Abilad – Olaya Street/Prince Mohamed bin Abdulaziz Street – Bank Abilad (Line 1);
Saudi Telecom Company – Olaya Street/King Abdullah Road – STC (Lines 1 and 2);
Majid Al Futtaim Shopping Malls Company – King Abdullah Road/Al Najah Street – City Centre Ishbiliyah (Line 2);
Sabic – Al Imam Mohamed bin Saoud Islamic University – Sabic (Lines 4 and 6); and
Granada Investment Centre – Abi Jaafar Al Mansoor Road/Eastern Ring Road (North of Granada Mall) – Granadia (Line 6).

Among additional benefits, sponsors will also be entitled to retail space, advertising and signage within their stations, together with a range of other activation opportunities, allowing them to engage with the 3.6 million ultimate daily users of the metro network, in an innovative fashion.

This is the first in a series of commercial initiatives using private sector participation to generate non-ticket revenue, in line with Vision 2030. RDA will be tendering further commercial opportunities across the entire Riyadh Public Transit System – such as retail, advertising and telecommunication – as it moves towards network operations, it said.