UAE advertising agencies owed $150 mln

Advertising and media agencies operating in the UAE are owed about $150 million from the public and private sectors, as clients struggle to pay their bills, a leading industry executive said.

“We are aware of a number of International Advertising Association (IAA) members who have been affected,” Ghassan Harfouche, IAA treasurer in the UAE, told Mediaweek Middle East in an article published on Sunday.

“Those with a higher percentage of real estate clients have unfortunately taken the largest hit.”