Font Size

- Aa +

Wed 16 Mar 2011 12:31 PM

Font Size

- Aa +

Dubai’s Hills Advertising to spend up to $20m on acquisitions

Outdoor advertising firm is in talks for a 50% stake in Saudi company for $6.9m, says CEO

Dubai’s Hills Advertising to spend up to $20m on acquisitions
Dubai-based Hills Advertising plans to spend $15-20m on acquiring advertising and printing companies in Qatar, Saudi Arabia and Algeria during 2011

Dubai-based
Hills Advertising plans to spend $15-20m on acquiring advertising and printing
companies in Qatar, Saudi Arabia and Algeria during 2011, its CEO said.

The
firm, which claims a 60 percent market share of Dubai’s outdoor advertising
market, is in talks with a Jeddah-based company to acquire a 50 percent stake
for around $6.9m.

“[We
are aiming] to enlarge our business in Saudi Arabia through participation with
a big giant. We are already talking to one company in Jeddah,” said CEO Sami Al
Mufleh, declining to name the company

“We’ll
go into partnership 50/50 with [them] and we’ll give them the Hills Advertising
name.”

The
Jeddah-based firm owns outdoor advertising areas on the main highways in the
city, Al Mufleh said.

Hills
Advertising, whose clients include Emirates NBD and HSBC, also hopes to acquire
a sign making and printing company in Qatar. The acquisitions will be funded
through self finance or private equity, said Al Mufleh.

Global
revenues from outdoor advertising are forecast to increase 7.9 percent to
$26.3bn in 2011 as multinationals increase ad spend amid renewed economic
confidence, said Magna Global.

JCDecaux,
the world's largest outdoor advertising company, said Tuesday it would launch
an operation in Abu Dhabi. The firm, which is listed on the Paris stock market,
said it was eyeing opportunities at Abu Dhabi airport and outdoor adverting
sites across the city.

Dubai 9 years ago

are you sure that Hills adv. has 60 percent market share of Dubai’s outdoor advertising market!

can you plz post the statistics that support this claim????