Riyadh Development Authority (RDA) said on Thursday it had raised SR 1.045bn by auctioning off the naming rights of eight stations on the city’s upcoming metro.
Saudi British Bank (SABB), Dr.Sulaiman Al Habib Medical Group, Saudi Telecom Company (STC), Alinma Bank, Bank Abila and Majid Al Futtaim Shopping Malls Company, Granada Investment Centres and SABIC were among the companies selected for the 10-year contracts.
Their brands and logos will be featured as the names of specific stations and they will also be entitled to retail space, advertising and signage with the potential to engage with the expected 3.6 million daily metro users.
The Riyadh metro comprises six lines totalling 176km and 85 stations. It will cover the most densely populated areas of Riyadh, including the King Khalid International Airport, King Abdullah Financial District and major educational, commercial and medical institutions.
The metro is planned to accommodate more than 365 million passengers per year in its opening phase and 1.3 billion per year in the future, serving as the backbone of the public transport system in the Saudi capital city.