By Staff Reporter
Dubai: The two new toll-gates in Dubai Salik will be operational from November 24. The new locations are the ‘Business Bay Gate’ and ‘Al Safa South Gate’.
This takes the number of Salik operated tollgates in Dubai to 10. It was on August 28 that Salik confirmed the launch of the new gates and what it would mean for Dubai’s vehicle traffic flow. They also meant the first additions after Salik went in for a bumper IPO.
The choice of locations for the new gates will go a long way towards streamlining vehicle movements on and off the Shaikh Zayed Road stretch.
The gains for Salik too will be immediate, with annual revenue-generating trips expected to increase 7-8% in 2024.
Earlier, Salik had given valuations for the new gates at Dh2.73 billion with Business Bay Gate valued at Dh2.26 billion and Al Safa South Gate at Dh469 million. (Salik has the exclusive rights to construct, operate, and maintain the toll gates until end June 2071.)
In the first six months, there were more than 300 million trips through the 8 Salik gates in Dubai. And the number of Salik registered vehicles had risen 8.8% to 4.2 million.
Now, with Business Bay Gate and Al Safa South Gate going live, Salik forecasts 7-8% revenue gain. Investors on DFM sure are enthused by the potential, with the Salik stock hovering close to Dh5.
The IPO price was Dh2.
Source: Gulf News
