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Salik Company PJSC, Dubai's exclusive toll gate operator, has signed a Memorandum of Understanding with ENOC Group to develop smart payment solutions at ENOC service stations. This partnership aims to enhance customer experience by integrating seamless payment options for fuel and services, using Automatic Number Plate Recognition technology. The payments will be deducted from the customer's Salik e-wallet. This collaboration is part of both companies' digital transformation efforts, aiming to improve operational efficiency and reduce reliance on traditional payment methods. The initiative also supports Salik's ancillary revenue growth.
Emaar Properties reported a strong performance in Q1 2025, with property sales increasing by 42% to AED 19.3 billion (US$ 5.3 billion) and a backlog growth of 62% to AED 127 billion (US$ 34.6 billion). Revenue rose by 50% to AED 10.1 billion (US$ 2.8 billion), and EBITDA grew to AED 5.4 billion (US$ 1.5 billion) with a margin exceeding 53%. The net profit before tax also increased by 27% to AED 5.4 billion (US$ 1.5 billion). Emaar declared a record dividend of AED 8.9 billion (US$ 2.4 billion) and continues to focus on customer satisfaction, talent development, cost efficiency, and sustainability initiatives. The company received its third ESG rating upgrade in four years from MSCI.
Emirates Central Cooling Systems Corporation (Empower), the largest district cooling services provider globally, has reinforced its commitment to enhancing the traveler experience at Dubai International Airport by offering advanced, eco-friendly district cooling solutions. These systems help reduce carbon emissions and improve operational efficiency, aligning with Dubai’s sustainability goals. During the 24th Airport Show 2025 at the Dubai World Trade Centre, Empower highlighted its role as the primary district cooling services provider for the airport, following its acquisition of the airport’s district cooling assets in 2023 for AED 1.1 billion. Empower provides cooling services with a capacity of up to 110,000 refrigeration tons. CEO Ahmad bin Shafar emphasized the company's commitment to supporting Dubai’s infrastructure, particularly in the aviation sector, by offering environmentally friendly cooling solutions that enhance energy efficiency and reduce the airport’s carbon footprint. Empower also uses advanced remote monitoring and operation technologies and plans to expand to meet growing cooling demands.
The Dubai Financial Market (DFM) has launched a Centralized Securities Lending and Borrowing (SLB) Program to improve market liquidity and investor access. This program, operated by Dubai Clear as the central counterparty, offers a transparent and regulated framework for securities lending and borrowing. It aligns with international standards for risk management and governance. The initiative aims to enhance market efficiency, support price discovery, and expand investor participation in Dubai's capital market. Long-term investors can lend eligible securities, while borrowers such as hedge funds and market makers can use these securities for trading strategies. The program features a centralized matching mechanism and ensures anonymity between counterparties.
Dubai Taxi Company PJSC (DTC) reported AED 588.3 million in revenue for Q1 2025, marking a 5% year-on-year increase and a 7% rise on a like-for-like basis. The growth was driven by an 8% increase in trips, with 13 million trips completed in the taxi and limousine segments. DTC expanded its fleet by adding 250 fully electric taxis, totaling over 6,200 vehicles, with more than 86% of them being hybrid or electric. The company formed a strategic five-year partnership with Dubai Airports to cater to the growing number of tourists and visitors. The partnership with Bolt completed its first full quarter, experiencing strong demand despite additional promotional costs. EBITDA decreased by 9% to AED 154 million but showed a 4% increase on a like-for-like basis. Net profit was AED 84 million, down 23% overall, with a 2% decline like-for-like. Shareholders approved a final dividend of AED 122.3 million for the latter half of 2024, distributed in April 2025. DTC's results reflect strong business fundamentals, supported by Dubai's population and tourism growth.