Page 67 - SALIK PR REPORT JANUARY 2024

1/22/24, 1:47 PM Salik to open two more toll-gates in Dubai | Markets – Gulf News

Be traffic toll policies also encourage the public to shift towards mass transport means such as the metro, buses, marine

transport, and soft mobility options.

A '6 million hour' reduction

According to Mattar Al Tayer, Director-General and Chairman of Dubai's Roads and Transport Authority, “Be existing toll

gates contributed to reducing the total travel time in Dubai by 6 million hours annually, decreasing traffic volumes on Al

Maktoum and Al Garhoud bridges by 26 per cent, reducing travel times on Sheikh Zayed Road and Al Ittihad Street by 24

per cent, and increasing the number of mass transit users by 9 million riders per annum."

SALIK STOCK IS TRENDING ON DFM

Salik, which had its IPO September 2022, was one of the big gainers on DFM through 2023, with the stock churning up a

gain of 64 per cent. It will start trading at Dh3.28 today.

On what sort of lift the two gates will provide, Salik said it will update the markets and investors in due course.

"Details concerning the required upfront valuation and funding mix for the introduction of the new gates - as well as

guidance on the generated revenues, EBITDA and balance-sheet impact - will be communicated to the market after the

completion of detailed traffic studies and agreement with the RTA," the company said.

"Our partnership with RTA in launching these new gates is another important step in our journey to enhancing Dubai’s

transport infrastructure with smart and sustainable mobility solutions," said Al Haddad.

"Bese two new gates aim to improve overall mobility throughout the city, facilitating smoother and more efficient travel

for road users.”

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