In a major step towards improving the administration of advertising in Dubai, Vice President, Prime Minister of the UAE, and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has issued Law No. (20) of 2024. This new law allows the formation of a new legal entity of a private joint-stock company to manage and operate advertising facilities in Dubai under the name of Mada Media Company.
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Key Objectives of Mada Media
The key objectives of the newly formed Mada Media Company will involve handling of the advertising sites in Dubai and the promotion of the new technologies in the advertising industry. The company is tasked with:
- Overseeing and expanding advertising spaces across the emirate.
- Paying for the best technology in advertising in an effort to ensure the advertising sector in Dubai remains relevant and competitive.
- Undertaking investigations on various aspects of advertisement progression and new trends.
- The compliance with the regulatory standards in order to uphold the spirit of the law in advertising business.
Mada Media also has legal rights to enter into partnership agreements, sign contracts, and own properties, which will help the company to penetrate the local and international market more effectively, beyond the territories of Dubai. Special attention will be paid to the relevance of the measures planned by the company to the general objectives of the emirate.
Oversight and Leadership
According to the law, the Commissioner General for the Infrastructure, Urban Planning, and Well-Being Pillar is responsible for supervising Mada Media in order to achieve its goals and fulfill the mandate. The Commissioner General will also work hand in hand with the company to achieve its goals for the management of advertising in the emirate.
Other key players that have equally played a crucial role in the launching of Mada Media include, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, The Deputy Prime Minister, Minister of Defence & the Chairman of The Executive Council of Dubai. And endorsed the Articles of the company in Decision No. (79) of 2024 and established the company’s Board of Director’s through Decision No. (80) of 2024.
The Board will be chaired by Mattar Mohammed Al Tayer, with Hussein Mohammed Al Banna as the Vice Chairman. The other members include:
- Wissam AlAbbas Hussain Lootah
- Mariam Obaid Al Muhairi
- Mohammed Yousef Al Mudharreb
- Ahmad Hassan Mahboub
- Moaza Saeed Al Marri
- Shehab Hamad Bu Shehab
- Saeed Mohammed Al Marri
Role of RTA and Dubai Municipality
According to the new law Dubai’s Roads and Transport Authority (RTA) and Dubai Municipality shall, under a concession agreement, sub-delegate the advertising functions and responsibilities to Mada Media. Some of these responsibilities are in areas such as permitting as well as the incidental assets in advertising.
The assets, rights and responsibilities of RTA and Dubai Municipality to take over by Mada Media will be conducted in consultation with the Dubai Investment Fund and other government bodies. This shall entail the transfer of tangible properties, rights to access to the systems and any other related rights hence passing the responsibilities of the contract to a new company.
The law also provide on how all the government departments that can be involved in ensuring that the properties are transferred to Mada Media or any of its subsidiary are supposed to collaborate.
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Subscription and Ownership
The law of of Mada Media allows for subscription and ownership of shares by members of the public. These shares may be offered for public subscription at ratios to be ascertained by the Chairman of The Executive Council of Dubai. This creates the potential for increasing the number of people who invest in the company as well as expand, which can be beneficial for developing the advertisement industry of Dubai.
The coming of Mada Media Company is one of the biggest milestones in the journey of Dubai towards achieving its vision of turning into a global city of innovation, creativity, and commerce. By managing the advertising sites for the company, investing in new forms of adverting technologies and partnering with key stakeholders, the company should be in a position to shape the future of advertising in the emirate. The law provides an all-encompassing platform for the operations of the company thereby encompassing a new form of advertising in Dubai.