UAE to list Salik road toll system in Dubai financial market – News

The government will also release the names of the remaining eight state-funded companies in due course.



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Posted: Sat, Nov 13, 2021, 7:00 PM

Last update: Sat, Nov 13, 2021, 8:56 PM

The UAE on Saturday announced plans to list the Salik road toll system in Dubai‘s financial market, its senior official said.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Governor of Dubai, and Deputy Prime Minister and Minister of Finance of the United Arab Emirates, said on Twitter that Dubai’s road toll system will be the next to be released after the ‘Dubai Electricity and Water Authority.

“At the Committee for the Development of Markets and Capital Exchanges in Dubai, we approved a plan to register the Electronic Toll Road System (Salik) in the Dubai Financial Market. Salik is a successful project with enormous investment potential ”, tweeted Sheikh Maktoum.

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The United Arab Emirates was taking the step to diversify public companies listed on the market, he added.

Dh3t market watch

The Higher Committee on Securities and the Dubai Stock Exchange said that the listing of Salik on the Dubai financial market is part of the committee’s strategy to increase the size of the emirate’s stock market to 3 trillion dirhams. over the coming period.

Previously, the government announced its intention to list 10 state-backed companies in the Dubai financial market in order to increase market liquidity.

Who comes next

Analysts said the latest move was aimed at making Dubai a more competitive market against the region’s larger exchanges which are seeing larger listings and high liquidity.

Inside market sources said the Dubai government will also release the names of the remaining eight state-funded companies in due course.

“The government has developed reputable brands over a period of time. Emirates airline, flydubai, dnata, Roads and Transport Authority (RTA), Enoc and Jumeirah will be potential candidates for listing in Dubai financial markets and may attract investors, ”sources said.

Salik owns leading infrastructure assets

The Salik toll system is one of Dubai’s main infrastructure assets, with significant traffic volumes. The system, introduced by the RTA in 2007, uses the latest technologies to facilitate the flow of traffic.

The eight toll booths of Salik, Al Barsha, Al Garhoud, Al Maktoum, Al Mamzar South, Al Mamzar North, Al Safa, Airport Tunnel and Jebel Ali, aim to reduce congestion, encourage the use of public transport and l use of alternative routes.

The number of vehicles registered in the Salik toll system is three million, of which 1.8 million are registered in Dubai.

The strategy of the Securities and Exchange Higher Committee aims to list government and public companies on the Dubai Financial Market (DFM) as part of the acceleration of new listings in various sectors, including energy, logistics and retail. retail, in addition to adopting innovative financial tools and instruments that can meet the current needs of investors.

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