Press releases, Reports & Disclosures for Salik Company PJSC

On February 2, 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, from Ibrahim Sultan Al Haddad, the CEO of Salik Company PJSC. The letter informed Mr. Ali that Salik Company's Board of Directors will hold a meeting on February 8, 2024, at 8:00 am. The agenda of the meeting will include discussing the company's preliminary unaudited results for the year ended December 31, 2023, and normal business activities.

Salik Company, Dubai's exclusive toll gate operator, will build two new toll gates at Business Bay Crossing and Al Safa South, increasing the total number of toll gates in the city from eight to ten. The new gates, expected to be operational by November 2024, aim to reduce traffic congestion and optimise traffic flow. According to traffic studies, the new gates could reduce traffic congestion by up to 15% on Al Khail Road, and traffic volume by up to 16% on Al Rabat Street. The addition of the new gates is part of Salik's growth plan and partnership with the Roads and Transport Authority (RTA). Salik will oversee the construction, operation, and maintenance of the toll gates and hold the exclusive right to operate them until June 2071.

Dubai's exclusive toll gate operator, Salik Company PJSC, is diversifying its revenue streams through a partnership with Emaar Malls Management LLC. The collaboration will see Salik deliver a barrier-free parking system at Dubai Mall, using automatic fee collection for ticketless parking, with fees deducted from Salik user accounts. The new system is expected to be operational by Q3 2024. Salik is also exploring options for growth in Dubai's private parking market, which boasts over 50,000 spaces. The firm's high penetration rate, with over 2 million active accounts and 4 million active vehicles, means no major customer acquisition is needed.

Salik Company P.J.S.C., the toll gate operator in Dubai, has joined the Dubai Financial Market's (DFM) Voluntary Carbon Credit Trading Pilot Program. The initiative aligns with Salik's strategy to promote sustainable practices in the UAE and supports the country's goal to achieve net-zero emissions by 2050. As part of the program, Salik purchased and retired 715 units of Carbon Retirement Rights (CRRs) for the Dubai Electricity and Water Authority (DEWA) Chiller Station L project, which aims to improve gas turbine efficiency. This move helps offset Salik's carbon emissions at various operational points. The CEO of Salik, Ibrahim Sultan Al Haddad, stressed the importance of the program in raising climate change awareness and reducing emissions.

Dubai's exclusive toll gate operator, Salik Company P.J.S.C., has signed a Memorandum of Understanding (MoU) with TAMM, Abu Dhabi's government services platform. The partnership aims to enhance services and provide digital solutions, marking a significant step for the UAE's transportation sector. As part of the agreement, Salik's solutions will be integrated into TAMM, and the 'Abu Dhabi Pay' digital payment platform will allow TAMM users to add their Salik accounts and recharge them on the platform.

Dubai-based toll gate operator, Salik Company, is expanding its partnership with Careem, a leading app in the region. The partnership will allow Salik tags to be delivered directly to customers through Careem's fast grocery service, Careem Quik. In addition, the Careem Pay feature allows customers to recharge their Salik accounts via the app. Over 300,000 customers have linked their bills to Careem Pay, enabling them to automate payments for Salik recharges and other bills. The partnership aims to improve customer experience by making Salik services more easily accessible.

On November 29, 2023, Mr. Ibrahim Sultan Al Haddad, CEO of Salik Company PJSC, sent a letter to Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market, informing him about a forthcoming Board of Directors meeting. The meeting is scheduled for December 7, 2023, at 8:30 am, and will discuss and approve normal business activities.