Riyadh Metro Naming Rights raises more than SAR 1 billion
Client: Riyadh Development Authority (RDA)
Project: Riyadh Metro commercialisation
On behalf of our client, the RDA, Rise set a new global record for revenue generated in sponsorship from the public sector, raising more than $278m (SAR 1bn) in long-term partner contracts from the sale of Riyadh Metro Naming Rights.
Eight partners signed 10-year contracts, including the likes of Saudi Telecom Company (STC), SABB (HSBC) and Majid Al Futtaim, which were all secured through a process conceptualised, designed and marketed with the support of Rise.
As the principal commercial consultant to the RDA, Rise handled all elements of the Naming Rights project, which was completed over a nine-month period. The first of its kind in the Kingdom, and one of a handful of PPP projects to come to market in line with Vision 2030, the program utilised commercial assets identified in the Metro infrastructure and packaged into a market-friendly format.
Rise is also responsible for developing all non-fare revenue streams for the RDA, creating opportunities for private sector investment across media, retail, telecommunications, naming rights and more.