Dubai – Mubasher: Salik Company announced the combined valuation of the two new toll gates at Business Bay and Al Safa South at a total of AED 2.73 billion.
The Business Bay Gate was valued at AED 2.26 billion and the Al Safa South Gate amounted to AED 469 million, according to a press release.
The new gates are expected to be operational by the end of November 2024, increasing Salik’s toll gate network in Dubai from eight to 10.
These additions aim to enhance traffic flow by redirecting vehicles to routes with higher capacity, thereby alleviating congestion.
The Roads and Transportation Authority (RTA) has conducted detailed traffic impact studies to ensure that the placement of each gate aligns with its strategic goals for traffic management optimization.
As per the concession agreement with RTA, Salik has the exclusive rights to construct, operate, and maintain the toll gates until the end of June 2071.
Mattar Al Tayer, Chairman of Salik, commented: “The launch of the two new gates highlights the commitment of both the RTA and Salik Company to advancing sustainable mobility solutions and improving Dubai’s transport infrastructure.”
“new gates will play a crucial role in optimising travel time and reducing congestion on some of Dubai’s busiest routes,” Al Tayer continued.
Ibrahim Sultan Al Haddad, CEO of Salik, added: "We are extremely pleased with the progress we are making on our long-term objectives, in line with our ambition to become a global leader in mobility solutions.”
An agreement has been reached with the RTA on a repayment plan for the total valuation amount for the two new gates over a period of six years starting from the end of November 2024.
The annual installment, valued at AED 455.70 million, will be paid in two equal installments of AED 227.90 million, each, every six months.
