Dubai Taxi increases market share to 46% with taxi fleet now at 5,660
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Dubai Taxi Company (DTC) has expanded its fleet with the acquisition of 94 new license plates in the latest auction organized by the Roads and Transportation Authority (RTA)adding 445 taxis added to its service in 2024.
This strategic addition is expected to increase the company’s market share to 46%, cementing its status as Dubai’s leading transport operator. The expansion underscores the company’s strong financial health and ability for continued growth and acquisitions.
The recent addition of 450 taxis in 2024, expanding the DTC fleet to 5,660 vehicles, will further enhance the company’s ongoing commitment to bolstering its financial resources for operational and strategic initiatives.
It aligns perfectly with DTC’s expansion strategy within the taxi sector, underscoring its relentless pursuit of providing world-class transportation services. By embracing innovation, distinctiveness, digitalization and sustainability, the company aims to facilitate the daily mobility needs of Dubai residents seamlessly.
The measure increases the market value for shareholders
Mansoor Rahma Al Falasi, CEO of Dubai Taxi Company, said the addition of 94 new taxis to the DTC fleet will propel the sustainable growth experienced in the company’s operational and investment spheres to the next level. With the taxi fleet expanding from 5,216 in 2023 to 5,660 by early 2024, this addition will bolster the company’s total revenue for the year. This growth further consolidates DTC’s leading financial position in the Dubai financial market, delivering attractive returns for investors and enhanced value for shareholders.
Al Falasi emphasized that this expansion will support the company’s ultimate goal of advancing and developing the transportation sector in Dubai. It will significantly enhance Dubai Taxi’s operational capabilities, ensuring the provision of world-class transportation services. By expanding the taxi fleet, DTC hopes to meet the growing demand for daily travel and ultimately contribute to the overall improvement of transportation infrastructure in the Emirate of Dubai.
Proactive preparation
He went on to say that Dubai Taxi is experiencing substantial growth in its vehicle fleet, particularly 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 enthusiasm for providing exceptional transportation services that match the emirate’s global stature as a premier tourist destination and its population growth.
Furthermore, this measure is in line with Dubai’s Urban Master Plan 2040, which seeks to offer sustainable and versatile transport options for everyone in the Emirate.
Dubai Taxi offers a wide range of mobility solutions across four main business sectors, including its extensive and eco-friendly fleet of taxis, VIP limousine services serviced by trained drivers for a premium travel experience, comprehensive bus services and corporate delivery solutions.
News source: Dubai Press Office
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