The two gates will be located at Business Bay Crossing on Al Khail Road, and Al Safa South on Sheikh Zayed Road
The system is expected to be operational in Dubai Mall by the third quarter of the new year
The government reportedly plans to sell shares in the taxi business as soon as this year, while the parking unit’s listing is slated to follow next year
The toll operator has advised the public to exercise caution and vigilance when being targeted by such offers
The toll operator reported that revenue-generating trips reached 113.6 million, exceeding the pre-pandemic peak level thanks to the recovery of economic and tourist activity, as well as mobility
The company’s full-year revenue jumped 11.8 per cent to $517m, driven by an increase in revenue from toll usage fees
The road-toll operator said the number of revenue-generating trips jumped 13 per cent to 413 million trips compared to 367 million in 2021
Salik’s Q3 revenue increased 9.1 per cent YoY to Dhs445m, with travel activity fast approaching pre-Covid levels
The Middle East has been one of the most active IPO markets in 2022
Salik is expected to commence trading on the Dubai Financial Market on September 29
The company’s starting market capitalisation is expected to be $4.1bn
The institutional offering will end on September 21, while the book for retail buyers will close the day before
Al Haddad spent the last nine years as RTA’s commercial and investment director
The Executive Council of Dubai is authorised to determine the percentage of shares that can be offered for subscription either through an IPO or private placement
It wasn’t clear yet what valuation Salik will seek
The toll system could add additional banks before the listing
There are currently eight Salik toll gates in the city, with three million vehicles registered in the system
The amount collected by the Dubai government’s online payment services in the first half of 2012 increased 21 per cent year-on-year.