(MENAFN- Khaleej Times)
Dubai Taxi Company (DTC) on Thursday announced a strategy to expand geographically into“untapped markets across the UAE and the region” and grow at a double-digit rate across its portfolio.
As part of its 2025-2029 strategy, the company revealed a high dividend payout ratio over the next five years as well as maintaining its“leadership position in the taxi market while expanding into new verticals such as limousine services and delivery.”
“We are on the verge of a pivotal transformation aimed at achieving sustainable and comprehensive growth across all aspects of the company's operations,” said Abdul Mohsen Ibrahim Kalbat, chairman of Dubai Taxi Company.
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DTC currently operates more than 9,000 vehicles – of which around 6,000 are taxis – and manages a workforce of more than 17,500 driver partners.
During the first half of 2024, DTC revenues grew 14 per cent year-on-year to Dh1.09 billion with strong growth across all its segments.
Abdul Mohsen Ibrahim Kalbat (left) and Mansoor Rahma Alfalasi
Its board approved a dividend payout of Dh159.3 million for the first half of the year, in line with its policy to distribute at least 85 per cent of annual net profit to shareholders.
DTC has also tied up with the global shared mobility platform Bolt to offer limousine and taxi services in the Emirates. The limousine service was introduced at the beginning of December and the e-hailing app will offer DTC's taxi service from the first quarter of 2025, as reported by Khaleej Times earlier.
Mansoor Rahma Alfalasi, CEO of Dubai Taxi Company, said the firm is focused on a“customer-centricity approach.”
He said:“This strategy is not just about growth; it's about creating a sustainable, connected, and smarter future for our customers and stakeholders.”
In line with its transformation goals, DTC is leveraging technology to meet the evolving needs of its customers and to support Roads and Transport Authority (Dubai) directives to transition 80 per cent of taxi trips to e-booking in the coming years.
Moreover, DTC will focus on investing in electric and hybrid vehicles to reduce environmental impact and promote eco-friendly solutions.
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