Dubai: Dubai toll gate operator Salik is including two extra places – Enterprise Bay Crossing on Al Khail Highway and Al Safa South on Sheikh Zayed Highway – to ‘optimize visitors stream and cut back congestion’ on key routes inside Dubai.
The 2 places have been chosen after in depth visitors motion analysis by the RTA. These are Salik’s first new toll gates following the massively profitable IPO and itemizing on DFM.
The brand new gates will open in November 2024.
The 2 new places might assist “cut back visitors congestion by as much as 15 % on Al Khail Highway” and as much as “16 % on Al Rabat Road.” It might additionally assist cut back the quantity of visitors turning proper from Sheikh Zayed Highway to Meydan Road by as much as 15 %.
In accordance with RTA, the brand new mission will see the development of 5 intersections and braided ramps, together with the introduction of speedy visitors options at two key factors alongside Al Khail Highway. (It additionally contains bettering the floor intersections of First Al Khail Highway with Al Meydan and Al Zumurrud streets.)
“These new gates are one other vital step in our journey in direction of bettering Dubai’s transport infrastructure with sensible and sustainable mobility options,” mentioned Ibrahim Sultan Al Haddad.
Picture credit: Dubai Media Workplace
On DFM, Salik inventory began robust, buying and selling 2.5 % larger inside the first couple of minutes.
“The addition of recent toll gates in two more and more busy places marks the newest milestone within the progress plan we outlined at Salik’s IPO,” mentioned Ibrahim Sultan Al Haddad, CEO of Salik Firm.
New income paths
Certainly. Salik’s prime executives had mentioned creating a number of new income streams, each natural and in any other case. Just lately, it had introduced fairly a groundbreaking partnership with Emaar to supply its providers at The Dubai Mall.
Now, the affirmation of extra toll gates within the metropolis will increase income alternatives. Enterprise Bay Crossing and Al Safa South are two of essentially the most outstanding ‘gateways’ into and out of town’s major places.
The highway toll coverage additionally encourages the general public to change to mass transit modes such because the metro, buses, maritime transport and delicate mobility choices.
A discount of ‘6 million hours’
In accordance with Mattar Al Tayer, Director Common and Chairman of Dubai’s Roads and Transport Authority: “The prevailing toll gates have helped cut back the general journey time in Dubai by 6 million hours per 12 months, lowering visitors volumes on Al Maktoum and Al Garhoud bridges has decreased by 26. %, lowering journey occasions on Sheikh Zayed Highway and Al Ittihad Road by 24 % and rising the variety of public transport customers by 9 million passengers per 12 months.
Salik inventory is trending on DFM
On what sort of carry the 2 gates will present, Salik mentioned it’ll inform the markets and traders in the end.
“Particulars on the required prior valuation and financing combine for the introduction of the brand new gates – in addition to steering on income era, EBITDA and steadiness sheet influence – might be communicated to the market following the completion of detailed visitors research and settlement with the RTA,” the corporate mentioned.
“Our partnership with RTA within the launch of those new gates is one other vital step in our journey in direction of bettering Dubai’s transport infrastructure with sensible and sustainable mobility options,” mentioned Al Haddad.
“These two new gates goal to enhance general mobility within the metropolis, making journey smoother and extra environment friendly for highway customers.”
