Emirates Neon Group (ENG), a leading outdoor media operator in the region, plans to expand globally to become a global corporation within the next ten years.

'We want to successfully translate our domestic successes in the UAE to regional and international level. We have recently acquired a company in China and renamed it as ENG Consulting, China,' Hanif Merchant, chairman of ENG was quoted as saying in the Gulf News report.

The company expects its annual revenues to surge to Dh7.3 billion ($2 billion) in five years, from the present $750 million.

ENG's real estate subsidiary, Ruwaad Holdings, will announce six projects in Cityscape exhibition, to be held next month, he added.

Last year, Ruwaad signed a licensing agreement to build a Paramount Pictures theme park in Dubai, will be part of a $2.5 billion project comprising hotels, resorts, shopping and residential units.

Middle East's adspend for the first half of 2008 has gone up by 23.6 per cent to touch $3.77 billion against $3.05 billion for the same period last year,  said the Pan Arab Research Centre.