On Thursday, Dubai Taxi Company (DTC) revealed a plan to grow at a double-digit rate throughout its portfolio and geographically enter “untapped markets across the UAE and the region.”
The company announced a high dividend payment ratio for the following five years as part of its 2025–2029 plan. It also maintained its “leadership position in the taxi market while expanding into new verticals such as limousine services and delivery.
To achieve sustained and all-encompassing growth in all area of the business’s operations, we are about to undergo a significant transition,” stated Abdul Mohsen Ibrahim Kalbat, chairman of Dubai Taxi Company.
Currently, DTC employs more than 17,500 driver partners and runs over 9,000 cars, of which over 6,000 are taxis.
DTC revenues increased 14% yearly to Dh1.09 billion in the first half of 2024, with robust growth in all sectors.
By allocating at least 85% of the yearly net profit to shareholders, its board authorized a dividend payment of Dh159.3 million for the year’s first half.
Additionally, DTC has partnered with Bolt, a worldwide shared mobility platform, to provide taxi and limousine services in the United Arab Emirates. As previously reported by Khaleej Times, the e-hailing app will start offering DTC’s taxi service in the first quarter of 2025, while the limousine service was launched at the beginning of December. The CEO of Dubai Taxi Company, Mansoor Rahma Alfalasi, stated that the company is committed to a “customer-centricity approach.
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