Dubai Taxi Corporation is striving to enhance its position in the UAE’s transportation market through significant strategic deals and substantial investments in smart transportation technologies. This initiative is part of its ambitious expansion plan aimed at increasing market share and meeting the growing demand for transportation services.
A Historic Deal to Boost Company Expansions
Dubai Taxi Corporation announced the completion of its full acquisition of “National Taxi” for approximately $395 million. This deal is the largest since the company was listed on the Dubai Financial Market, increasing its market share in Dubai to about 59% compared to the current 47%, and allowing it to enter the Abu Dhabi market with a share nearing 12%.
With the total fleet of both companies expected to exceed 14,000 vehicles, Dubai Taxi Corporation is strengthening its presence in the UAE transportation market, elevating its status among the largest transportation service operators in the region.
A Strategy Supporting the Future of Transportation
Mohammed Rahma Al-Falasi, CEO of Dubai Taxi Corporation, stated that this deal represents a strategic step that contributes to achieving the company’s future goals. He added that the expansion supports plans to create an integrated transportation system based on smart solutions.
The deal will be financed through banking facilities, while the company continues its policy of distributing 85% of net profits during the current year. This policy is set to be reviewed in 2027, following the completion of the first full financial year post-acquisition.
Dubai Taxi Corporation is also diversifying its services beyond traditional taxi offerings by expanding into limousine and commercial transport services, supporting its strategy to transform the company into a multi-service platform.
Technological Partnerships and Smart Services
Dubai Taxi Corporation is preparing to launch the Bolt platform in Abu Dhabi in the coming weeks and strengthen its technological partnerships with leading companies, including collaboration with Baidu in the field of autonomous vehicles. Additionally, it has added 600 new taxi signs to increase operational capacity to meet rising demand.
The company has successfully maintained operational efficiency despite environmental challenges. As urban and population growth continues in the UAE, Dubai Taxi Corporation is preparing to meet the increasing demand.
These moves underscore Dubai Taxi Corporation’s commitment to reinforcing its position as a key partner in the smart transportation sector through expansion via acquisitions and investment in modern technology, enabling it to adapt to future market demands.