Mohammed bin Rashid Enacts Legislation to Form Mada Media Company

photo: Government of Dubai Media Office

In a significant development for Dubai's advertising landscape, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, Vice President, and Prime Minister of the UAE, has enacted Law No. (20) of 2024. This legislation formally establishes Mada Media Company as a private joint-stock company (PJSC), tasked with the management and operation of advertising sites throughout Dubai.

The newly formed Mada Media Company is charged with a broad mandate that includes the management, development, and operation of advertising sites. It is also empowered to invest in cutting-edge advertising technologies and conduct related research. Furthermore, Mada Media will ensure regulatory compliance and is authorized to enter into partnerships, acquire assets, and sign contracts with third parties to further its objectives both within and beyond the emirate of Dubai.

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The oversight of Mada Media's operations falls under the jurisdiction of the Commissioner General for the Infrastructure, Urban Planning, and Well-Being Pillar. This role is crucial in ensuring that the company meets its strategic goals, with the specific duties and authority of the Commissioner outlined in the company’s Articles of Association.

In conjunction with this, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, has issued Decision No. (79) of 2024. This decision approves the 'Articles of Association of Mada Media (PJSC)', detailing the company's governance structure and operational guidelines.

Additionally, Sheikh Hamdan issued Decision No. (80) of 2024, which forms the Board of Directors for Mada Media. The board will be chaired by His Excellency Mattar Mohammed Al Tayer, with Hussein Mohammed Al Banna serving as Vice Chairman. Other board 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. This decision is effective immediately and will be published in the Official Gazette.

The new law also grants Dubai's Roads and Transport Authority (RTA) and Dubai Municipality the authority to delegate their advertising-related functions and permit issuance to Mada Media under a concession agreement. This delegation will help the company achieve its objectives more efficiently.

Moreover, the RTA and Dubai Municipality, in collaboration with the Dubai Investment Fund and other relevant bodies, will transfer their advertising-related assets, rights, and obligations to Mada Media. This transfer includes system access and will be facilitated in accordance with the concession agreement and relevant legal provisions.

The law further specifies the mechanisms for public subscription and ownership of Mada Media's shares. The Chairman of The Executive Council of Dubai will determine the share offering ratios.

Overall, the establishment of Mada Media Company represents a strategic move to streamline and enhance the management of advertising sites in Dubai, with the aim of leveraging advanced technologies and fostering efficient operations.

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