Dubai Taxi Company PJSC (DTC), a leading provider of comprehensive mobility solutions in Dubai, has been awarded 300 new plates at the latest Dubai's Roads and Transport Authority (RTA) auction. This strategic move cements DTC's position as Dubai's largest taxi operator, increasing its fleet size to nearly 6,000 vehicles and boosting its market share to 46%.

The award of new plates is expected to generate an additional AED 100 million in annual revenue, reflecting the company's robust growth trajectory. This expansion aligns with DTC's strategy of fleet enhancement and underscores its commitment to meeting the growing demand for sustainable and efficient transportation solutions in Dubai, driven by strong population and economic growth.

Mansoor Rahma Al Falasi, CEO of Dubai Taxi Company, commented: 'The award of 300 new plates is a key part of DTC's fleet expansion strategy. In 2024, our fleet has grown by approximately 10%, reaching nearly 9,000 vehicles across all our segments, which include taxis, limousines, buses, and motorcycles. Our investment in growth, innovation, and customer-centric solutions underscores our position as the leading transport operator in Dubai.'

Established in 1994 and operational since 1995, DTC has grown from a modest fleet of 81 taxi cars to a dominant player in Dubai's transportation sector. As of June 2023, the company operated more than 7,000 vehicles, making 44 million trips annually. This latest expansion further solidifies its market leadership and demonstrates its ability to drive shareholder value.

Given the company's strong market position, continued growth, and strategic initiatives, it is advisable for investors to hold their current positions. DTC's focus on innovation and expansion positions it well for future growth, but investors should monitor market conditions and company performance closely.