Al Barsha toll gate in Dubai. Salik reported a 12 per cent jump in its 2022 revenue. Jeffrey E Biteng / The National
Al Barsha toll gate in Dubai. Salik reported a 12 per cent jump in its 2022 revenue. Jeffrey E Biteng / The National
Al Barsha toll gate in Dubai. Salik reported a 12 per cent jump in its 2022 revenue. Jeffrey E Biteng / The National
Al Barsha toll gate in Dubai. Salik reported a 12 per cent jump in its 2022 revenue. Jeffrey E Biteng / The National

Salik expects revenue-generating trips through its toll gates to rise by up to 6% in 2023


Fareed Rahman
  • English
  • Arabic

Dubai toll operator Salik expects the number of revenue-generating trips through its toll gates to increase by about 5 per cent to 6 per cent in 2023, driven by the resurgence of the UAE economy after the Covid-19 pandemic.

In 2022, the total number of trips made through Salik’s toll gates rose by 12 per cent annually to 539 million on the continued recovery from the coronavirus-induced slowdown as restrictions were fully lifted in Dubai, as well as by the positive growth resulting from Expo 2020 Dubai in the first quarter of the year.

Traffic levels through its eight toll gates “broadly” recovered to pre-pandemic levels during the fourth quarter of 2022, the company said in a statement on Tuesday to the Dubai Financial Market, where its shares are traded.

Trips through the toll gates are the largest revenue driver for Salik and they constituted about 87 per cent of its total revenue in 2022, the company told The National separately.

“Salik’s positive performance in 2022 is a reflection of … Dubai’s unwavering economic resilience amid global turbulence and the ongoing efforts to attract a diverse and growing population,” said Salik chairman Mattar Al Tayer.

The UAE's economy has rebounded strongly from the coronavirus-induced slowdown on the back of higher oil prices and government initiatives to support businesses and the economy.

The Arab world's second-largest economy is estimated to have grown by 7.6 per cent last year — the highest in 11 years — after expanding by 3.9 per cent in 2021, according to the UAE Central Bank.

The country's gross domestic product is projected to expand 3.9 per cent in 2023, with non-oil sector growth estimated at 4.2 per cent, according to the Central Bank.

Salik reported about a 12 per cent jump in its 2022 full-year revenue to Dh1.89 billion ($514 million), while fourth-quarter revenue rose 2 per cent to Dh502 million.

The number of vehicles registered with the toll operator increased 7 per cent annually to 3.7 million in 2022.

Cars travel along the E311 motorway in Dubai. Chris Whiteoak / The National
Cars travel along the E311 motorway in Dubai. Chris Whiteoak / The National

Salik’s board proposed to distribute 100 per cent of the net profit recorded in the second half of 2022 as dividends to shareholders after deducting a one-time statutory reserve of Dh37.5 million, the company said.

Salik raised Dh3.73 billion in September from its initial public offering, which was more than 49 times oversubscribed across all tranches, with total gross demand at Dh184.2 billion.

The Dubai government sold more than 1.867 billion shares in the company, or 24.9 per cent, at Dh2 a share. The government retained a 75.1 per cent stake after the IPO.

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- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

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It's up to you to go green

Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.

“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”

When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.

He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.

“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.

One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.  

The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.

Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.

But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”

Mubalada World Tennis Championship 2018 schedule

Thursday December 27

Men's quarter-finals

Kevin Anderson v Hyeon Chung 4pm

Dominic Thiem v Karen Khachanov 6pm

Women's exhibition

Serena Williams v Venus Williams 8pm

Friday December 28

5th place play-off 3pm

Men's semi-finals

Rafael Nadal v Anderson/Chung 5pm

Novak Djokovic v Thiem/Khachanov 7pm

Saturday December 29

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The specs

Engine: 2.0-litre 4cyl turbo

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You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

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This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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1.45pm: Maiden Dh75,000 1,400m

2.15pm: Handicap Dh90,000 1,400m

2.45pm: Maiden Dh75,000 1,000m

3.15pm: Handicap Dh105,000 1,200m

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  • Fast fashion labour workers make 80 per cent less than the required salary to live
  • 27 million fast fashion workers worldwide suffer from work-related illnesses and diseases
  • Hundreds of thousands of fast fashion labourers work without rights or protection and 80 per cent of them are women

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Updated: March 07, 2023, 9:12 AM