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UAE-based Multiply Media Group, a subsidiary of 2PointZero Group, has expanded into Saudi Arabia through a strategic partnership with Cenomi Centers. The collaboration established BackLite KSA, a new operating company tasked with managing a premium digital out-of-home (DOOH) advertising network across major retail and lifestyle destinations in Riyadh and Jeddah. The network will initially deploy over 80 digital screens at locations including the upcoming Westfield Riyadh and Jeddah developments, as well as U Walk Riyadh and Jeddah. This marks 2PointZero's first major entry into the Saudi market, leveraging Cenomi's retail infrastructure to expand its digital advertising footprint.
The partnership is significant for Saudi Arabia's growing digital advertising sector, which is expected to benefit from increased private-sector investment and infrastructure development. For traders, the expansion could drive interest in both 2PointZero Group and Cenomi Centers, particularly if the venture achieves strong adoption. The move also aligns with Saudi Arabia's Vision 2030 goals to diversify the economy and attract foreign investment into non-oil sectors. Market participants may monitor the performance of BackLite KSA's network and its impact on the broader DOOH advertising industry in the region.
For MENA investors, this development highlights opportunities in the digital advertising space, which is gaining traction across the Gulf. The success of BackLite KSA could influence future partnerships between regional and international firms in Saudi Arabia. Key factors to watch include the network's revenue growth, expansion plans beyond the initial four locations, and regulatory support for digital infrastructure projects. Traders should also assess how this partnership affects the stock valuations of both 2PointZero Group and Cenomi Centers in the long term.
