Dubai: How can UAE residents buy Salik shares?

Dubai: How can UAE residents buy Salik shares?

Dubai’s road-toll operator Salik on Monday announced that it will sell 1.5 billion shares, or a 20 per cent stake, to retail, institutional investors and employees this month.

Below is a comprehensive guide for residents and investors on how to buy or subscribe to Salik shares in the UAE:

What does ‘Salik’ mean?

It means “open” or “clear” in Arabic.

When was Salik introduced?

The road-toll system was introduced in 2007 to offer seamless connectivity between the emirate’s main roads.

How many gates Salik are there in Dubai?

Salik currently owns and operates eight toll gates at strategic locations across Dubai. They are located at Al Barsha, Jebel Ali, Al Mamzar North, Al Mazar South, Al Safa, Al Garhoud, DXB Airport Tunnel and Al Maktoum Bridge.

Will Salik add new gates?

According to Dubai’s Law No. (12) of 2022, existing toll gates in Dubai can be removed or modified subject to a decree issued by the Chairman of The Executive Council of Dubai. New toll gates can also be added subject to a decree issued by the Chairman of The Executive Council of Dubai, and after the Roads and Transport Authority of Dubai conducts a comprehensive traffic study in coordination with Salik.

When can people buy shares?

Individuals and other investors