Sheikh Mohammed bin Rashid Al Maktoum Launches Mada Media Company in Dubai
Dubai’s Ruler, Sheikh Mohammed bin Rashid Al Maktoum, who is also the Vice President and Prime Minister of the UAE, has issued a new law to create Mada Media Company. This private joint-stock company will manage and operate advertising sites in Dubai.
Company’s Responsibilities
Mada Media Company will be responsible for managing, developing, and operating advertising sites. It will also invest in advertising technologies and conduct related research. The company is allowed to form partnerships, own assets, and sign contracts with third parties to achieve its goals both within and outside Dubai.
Oversight and Governance
The Commissioner General for the Infrastructure, Urban Planning, and Well-Being Pillar will oversee the company’s operations. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has approved the company’s Articles of Association and formed its Board of Directors. The Board is chaired by Mattar Mohammed Al Tayer, with Hussein Mohammed Al Banna as Vice Chairman. 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, and Saeed Mohammed Al Marri.
Support from Government Entities
Dubai’s Roads and Transport Authority (RTA) and Dubai Municipality will transfer their advertising-related assets, rights, and obligations to Mada Media. This includes system access and other resources to help the company meet its objectives. The company’s shares may be offered for public subscription as determined by the Chairman of The Executive Council of Dubai.
Doubts Revealed
Sheikh Mohammed bin Rashid Al Maktoum -: He is the Ruler of Dubai, a city in the United Arab Emirates (UAE). He makes important decisions for the city.
Mada Media Company -: This is a new company created to manage and operate advertising sites in Dubai. It will use new technologies for advertising.
private joint-stock company -: This means the company is owned by private investors who buy shares, or pieces, of the company.
advertising sites -: These are places where advertisements are shown, like billboards or digital screens.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum -: He is the Crown Prince of Dubai and helps make important decisions for the city.
Articles of Association -: These are rules that explain how the company will be run.
Board of Directors -: This is a group of people who make big decisions for the company.
Dubai’s RTA -: RTA stands for Roads and Transport Authority, which manages roads and public transport in Dubai.
Municipality -: This is the local government of Dubai that takes care of city services like parks and waste management.
advertising-related assets -: These are things like billboards and digital screens that are used for showing advertisements.
