Of these, 90 billboards are located on the highway leading to King Khalid International Airport, and 435 are positioned inside the airport.

 

These billboards will be strategically distributed among various international and domestic terminals, as well as private aviation.

 

As per the deal inked with Riyadh Airports Company, it is for a duration of 10 years, commencing on January 1, 2024 and renewable for another period or similar periods, subject to a written agreement of both parties.

 

This contract is based on net revenue sharing model or the annual minimum guarantee -which is higher, said Arabian Contracting Services in its filing to Saudi bourse Tadawul.

 

In the first year of the contract, Arabian Contracting Services will share a percentage of the generated net revenue with Riyadh Airports Company, without applying the annual minimum guarantee.

 

Starting from the second year until the end of the contract, the business model will be based on net revenue sharing or the annual minimum guarantee -which is higher, stated the company.

 

The total annual minimum guarantee amounts starting from the second year until the 10th year are SAR1,822,462,500 (excluding value-added tax), which will be distributed progressively over the 9 years, according to the terms of the contract.-TradeArabia News Service