Salik, Dubai’s toll gate operator, will diversify its revenue stream by operating and managing the parking system at Dubai Mall, after a recent agreement with Emaar Malls Management.
Expected to be operational in the third quarter of 2024, Salik’s technology will be deployed to enable a barrier-free parking experience for customers at the busiest mall in the Middle East. Apart from ticketless parking, it will use vehicle plate recognition and automatically deduct fees from the customer’s Salik account.
The exact parking fee was not disclosed at the time and will be determined after Emaar Malls finalise the business rules for the project.
Salik sees the private parking market as a compelling opportunity to expand further and is actively exploring options for growth. The private parking market in Dubai is estimated at over 50,000 parking spaces. Salik will offer seamless access control for residential and institutional parking (malls and businesses) as well as a platform for fee collection via app and registration plate, both of which are core to its existing business.
Ibrahim Sultan Al Haddad, Chief Executive Officer and Board Member of Salik, commented: “We are delighted to be partnering with Emaar Malls on this exciting initiative at one of Dubai’s most iconic destinations. The project is important for our strategy to offer sustainable and smart mobility solutions to drivers in Dubai, as well as our objective to diversify into complementary revenue streams.
“Salik is ideally placed to provide this seamless and convenient customer journey, with the solution eliminating the need for gates or barriers at Dubai Mall, helping to minimise congestion and traffic for the customers. We are looking forward to building on the successes of this initiative to expand the offering to other locations around the city.”
With over 2 million registered active accounts and 4 million active vehicles, Salik sees no need for major customer acquisition as over 90 percent of Dubai vehicles are already registered.
Dubai Mall’s parking upgrade: Salik partnership
Salik will design, finance, develop, install and manage the parking management system, while Dubai Mall will provide the required local infrastructure, office space and car park maintenance.
Ahmed Almatrooshi, Emaar Properties Executive Board Member and General Director of Emaar Foundation said: “We are pleased to announce our collaboration with Salik Company, which has the ability to provide our customers a seamless journey when visiting Dubai Mall. This collaboration stems from our commitment to continuously improve the experiences of our guests at Dubai Mall, the world’s most visited mall.
“We’re pleased to see that parking will be easier and more user-friendly with the introduction of Salik’s transportation solution and expertise. We believe that this initiative will not only meet, but also exceed, our guests’ expectations, adding value to each visit and reinforcing Dubai Mall’s position as the premier shopping and lifestyle destination.”
Salike currently operates eight toll gates in the emirate and uses Radio Frequency Identification (RFID) and Automatic Number Plate Recognition (ANPR) technologies. Last month, the company said it expected underlying revenue-generating trips to grow by 9-10 percent in 2023, with an EBITDA margin in the range of 66-67 percent.
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