DTC forecasts upswing in the company’s total revenues for 2024, strengthening its financial position in DFM
• Mansoor Al Falasi: The expansion demonstrates the sustainable growth of Dubai Taxi’s business at the operational and investment levels.
• Al Falasi: The addition of 94 more vehicles expected to generate rewarding returns and improve the market value for shareholders.
Dubai Taxi Company (DTC) has expanded its fleet with the acquisition of 94 new license plates in the latest auction hosted by the Roads and Transport Authority (RTA), totaling 445 taxis added to its service in 2024.
The strategic addition is expected to boosts the company’s market share to 46%, cementing its status as Dubai’s leading transport operator. The expansion underscores the company’s robust financial health and its capacity for continued growth and acquisition.
The recent addition of 445 taxis in 2024, expanding DTC’s fleet to 5,660 vehicles, will further enhance the company’s ongoing commitment to bolstering its financial resources for both operational and strategic initiatives.
It aligns perfectly with DTC’s expansion strategy within the taxi sector, underscoring its relentless pursuit of delivering world-class transport services. Embracing innovation, distinctiveness, digitalization, and sustainability, the company aims to facilitate the daily mobility needs of Dubai residents seamlessly.
Move boosts shareholder market value
Mansoor Rahma Al Falasi, CEO of Dubai Taxi Company, said that the addition of 94 new taxis to the DTC’s fleet will drive the sustainable growth experienced across the company’s operational and investment spheres to the next level. With the taxi fleet expanding from 5,216 in 2023 to 5,660 at the beginning of 2024, this addition will bolster the company’s total revenues for the year. Such growth further solidifies DTC’s leading financial position in the Dubai Financial Market, offering attractive returns for investors and increased shareholder value.
Al Falasi emphasized that this expansion will support the company’s end goals of advancing and developing the transportation sector in Dubai. It will significantly enhance Dubai Taxi’s operational capabilities, ensuring the delivery of top-notch transportation services. By expanding the taxi fleet, DTC looks forward to accommodating the growing demand for daily trips, ultimately contributing to the overall enhancement of the transport infrastructure in the Emirate of Dubai.
Proactive readiness
He went on to say that Dubai Taxi is experiencing substantial growth in its vehicle fleet, notably with a 100% increase in its airport taxi segment through the addition of 350 new environmentally friendly taxis. This strategic expansion is yet another testament to DTC’s keenness to provide exceptional transport services that match the emirate’s global stature as a premier tourist destination and its demographic growth.
Additionally, this move comes in line with Dubai 2040 Urban Master Plan, which seeks to offer sustainable and versatile transportation choices for everyone in the emirate.
Dubai Taxi delivers a wide range of mobility solutions across four main business sectors, including its extensive and eco-conscious taxi fleet, VIP limousine services manned by skilled drivers for a premium travel experience, comprehensive bus services, and corporate delivery solutions.