Salik Company PJSC (Salik), Dubai’s exclusive toll gate operator, has announced the combined valuation of the two new toll gates at Business Bay and Al Safa South, at a total of AED 2.73 billion.
The new Business Bay Gate is valued at AED 2.265 billion and the new Al Safa South Gate is valued at AED 469 million.
The two new gates at Business Bay Crossing on Al Khail Road and Al Safa South on Sheikh Zayed Road, positioned between Al Meydan Street and Umm Al Sheif Street, will expand Salik’s toll gate network in Dubai from eight to ten.
Regarding the payment schedule for the gate’s valuation, an agreement has been reached with the RTA on a repayment plan for the total valuation amount for the two new gates over a period of six years starting from the end of November 2024. The annual installment will be AED 455.7 million, to be paid in two equal installments of AED 227.9 million each, every six months, which will be provided from Salik’s own financial resources.
Salik expects to see an increase in annual revenue-generating trips with the operation of the Business Bay and Al Safa South gates upon their operational launch, which is expected to be by the end of November 2024, the new gates are expected to generate a revenue impact from the starting date till the end of the year 2024.
Salik has the exclusive rights to construct, operate, and maintain the toll gates until end of June 2071.
Comments