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Sheikh Mohammed bin Rashid Al Maktoum

Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE has issued a law to create 'Mada Media Company', a private joint stock firm to manage and operate advertising sites in Dubai. 

According to a report by state news agency WAM, the newly launched entity will be tasked with managing, developing, and operating advertising sites, as well as investing in advertising technologies and conducting related research. 

The report added that the company will also ensure regulatory compliance in the sector. 

Mada Media Company: All You Need to Know

According to the new law, Mada Media Company can form partnerships, own assets, and sign contracts with third parties to achieve its objectives within and outside the emirate.

The law also designated the Commissioner General for the Infrastructure, Urban Planning, and Well-Being Pillar to oversee the company's operations and ensure it meets its objectives. 

Mada Media Company to Get Advertising from RTA

Under the law, Dubai's Roads and Transport Authority and Dubai Municipality, are empowered to delegate all or part of their advertising-related functions and permit issuance to Mada Media, which will help the company fulfil its objectives.

Moreover, the government mechanism will facilitate the transfer and registration of these assets to the company or its subsidiaries in accordance with the concession agreement. 

Additionally, the Roads and Transports Authority and Dubai Municipality will work together with the Dubai Investment Fund and other relevant entities, to transfer their advertising-related assets, rights, and obligations to the company, including system access.

The decision regarding the implementation of the new law will be effective from the date of its issuance and will be published in the official gazette.