Naif Alrajhi Investment Signs New Contracts with Remat Al Riyadh to Expand Premium Outdoor Billboards in the Capital

Remat Al Riyadh, the development arm of the Riyadh Region Municipality, has signed two new contracts with Naif Alrajhi Investment, through its outdoor advertising company Phi, to develop, build, and operate six new strategic outdoor static billboard sites across Riyadh.

The expansion aims to support the growth of the capital’s outdoor advertising sector in line with ongoing efforts to enhance the city’s urban landscape, while keeping pace with Riyadh’s rapid development. 

This builds on the success of the previous partnership between the two entities, under which they developed, operated, and maintained large-format static billboards located on undeveloped land plots and on buildings under construction or renovation across the Kingdom.

The signing reflects Phi’s strong performance in delivering and operating premium outdoor advertising assets in Saudi Arabia. Within a short period, the company has established itself as one of the key players in the Kingdom’s outdoor advertising market.

Commenting on the announcement, Naif bin Saleh Alrajhi, Chairman and CEO of Naif Alrajhi Investment, said: “We are pleased to extend our partnership with Remat Al Riyadh, which reflects the growing confidence between both parties and reaffirms the success of our previous investment experience in developing and operating outdoor advertising assets. This expansion demonstrates Remat Al Riyadh’s trust in our performance and execution capabilities, and motivates us to continue investing in this promising market, given the sustainable growth opportunities it offers and its positive impact on Riyadh’s urban landscape.”

Maher Boulos, CEO of Phi, explained that the new billboards represent a significant step forward in the quality and value of the company’s advertising offerings. Positioned along key high-traffic corridors in Riyadh, the sites are expected to deliver broad reach across diverse audience segments.

“The billboards will be developed in compliance with the Salmani Code, featuring strong visual prominence and high execution quality. They will also be supported by artificial intelligence (ai) technologies, including integrated traffic-counting systems, enhancing campaign measurement and performance insights, making these assets among the leading outdoor advertising products in the region,” he added.

Within a short period of time, Phi has successfully strengthened its presence in Saudi Arabia’s outdoor advertising market, building on its accumulated experience in key regional markets, including Dubai and Cairo. This growth is driven by the company’s commitment to the highest standards of quality and innovation, its adoption of advanced technologies, specialised engineering expertise, and a strategic approach to selecting prime billboard locations—enhancing its competitiveness and market differentiation.

Phi serves a portfolio of leading local and global premium brands across various sectors, including lifestyle, technology, automotive, banking, and hospitality, through integrated outdoor advertising solutions that combine high-impact visibility with strong investment value.