Press releases, Reports & Disclosures for Salik Company PJSC

Salik Company PJSC, the exclusive toll gate operator in Dubai, has formed a strategic partnership with Liva, a leading insurer in the GCC, to provide customized vehicle insurance solutions in the UAE. This collaboration aims to enhance convenience in the insurance renewal process and raise awareness about the importance of timely renewals. The partnership will utilize Salik's database to send reminders to customers about insurance coverage and vehicle registration renewals, directing them to a Liva-managed portal for easy policy renewals. This initiative is part of Salik's strategy to expand its ancillary revenue streams and establish itself as a leader in sustainable mobility solutions. The partnership, effective from the end of November, is expected to benefit Salik customers with advanced digital insurance services, aligning with the future development of Dubai. Salik's CEO, Ibrahim Haddad, emphasized the goal of providing innovative and convenient services to enhance customer satisfaction and support the company's growth beyond its core tolling business.

The Board of Directors meeting for Salik Company PJSC has been postponed to Friday, November 15, 2024, at 8:00 am. Despite the postponement, the interim financial statements for the period ending September 30, 2024, will still be issued on November 13, 2024.

Salik Company (PJSC) has announced that two new toll gates, the "Business Bay Gate" and the "Al Safa South Gate," will begin operations on Sunday, November 24, 2024. This follows a disclosure by Salik's Board of Directors on August 28, 2024. For further details, individuals are encouraged to visit the Salik website.

On October 2, 2024, Ibrahim Sultan Al Haddad, Chief Executive Officer, addressed Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding inaccurate publications circulating on social media. He clarified that these publications are not accurate and urged customers and shareholders to rely only on official sources such as the Dubai Financial Market (DFM) and the SALIK website (www.salik.ae) for any official announcements or updates. Al Haddad emphasized SALIK's commitment to the disclosure and transparency guidelines set by the Securities and Commodities Authority (SCA) and DFM, ensuring that any significant information will be promptly shared with the market once confirmed and finalized.

Salik Company PJSC, Dubai's exclusive toll gate operator, announced the financial valuation of two new toll gates at Business Bay and Al Safa South, totaling AED 2,734 million. These gates, expected to be operational by the end of November 2024, will expand Salik’s toll gate network from eight to ten, aiming to enhance traffic flow and reduce congestion in alignment with RTA's transportation strategy. Salik has revised its 2024 financial guidance upwards, projecting a 7-8% increase in annual revenue-generating trips due to the new gates and favorable economic conditions in Dubai. The new gates are part of Salik's strategy to provide sustainable and smart mobility solutions.