Dubai Taxi Company (DTC), a leading provider of comprehensive mobility solutions in Dubai, on Wednesday announced that it has entered into a Sales and Purchase Agreement (SPA) to acquire 100% of the share capital of National Taxi, one of the UAE’s established taxi operators with operations in Dubai, Abu Dhabi, and Al Ain for a total enterprise value of AED1.45 billion ($394.83 million).

The acquisition was funded through new bank debt facilities and the final consideration is subject to adjustment in accordance with the terms of the SPA.

National Taxi: A high quality operator

National Taxi is a well-established and high-quality operator founded in 2000 and operating approximately 2,500 licensed plates and a fleet of over 2,700 vehicles across Dubai, Abu Dhabi and Al Ain. In the year-ended July 31, 2025, the company completed 25.4 million trips, operated at a 98% fleet utilisation rate, and generated net revenue of AED774 million with EBITDA of AED183 million. Its operating model is closely aligned with DTC’s existing platform, supporting operational compatibility and enabling a disciplined integration approach.

Five-year strategy 

The acquisition of National Taxi will mark a significant milestone in DTC’s growth strategy, expanding its geographic footprint in the UAE and reinforcing its position as a leading mobility platform. 

Once completed, the transaction is expected to strengthen DTC’s leadership position in Dubai, increasing its market share from 47% to approximately 59%, while establishing a meaningful presence in Abu Dhabi with 12% market share, unlocking opportunities for further growth. 

The transaction also supports DTC’s ambition to build a scaled, multi-emirate platform capable of capturing long-term growth in urban mobility across the UAE. DTC intends to retain the National Taxi brand post-completion and adopt a partial integration approach, maintaining customer-facing operations while consolidating central functions such as finance, procurement and back-office operations.

The signing of the SPA reflects DTC’s strong confidence in the UAE’s growth fundamentals, which continue to underpin structural demand for mobility services across the country. The Board of Directors and management team remain firmly convinced in Dubai's resilience, the strength of its economic model and the attractiveness of its long-term development trajectory.

DTC’s Group Chairman Abdul Muhsen Ibrahim Kalbat said: “This acquisition represents an important strategic milestone for DTC, strengthening our leadership position in Dubai while establishing a meaningful presence in Abu Dhabi. National Taxi is a well-established and high-quality operator with a strong financial profile, and this acquisition allows us to expand our platform, enhance scale and position the business for long-term growth.”

"Dubai has been the foundation of everything DTC has built, and we remain as confident as ever in its long-term trajectory. The UAE's fundamental strengths in attracting investment, talent and visitors continue to underpin sustained demand for mobility services. This acquisition is a direct expression of that conviction, and of our commitment to growing DTC into a platform worthy of the city and country it serves", he added.

DTC’s Group CEO Mansoor Rahma Alfalasi added: “The acquisition of National Taxi is a strong strategic and operational fit for DTC, enhancing our scale and strengthening our market position. The transaction is expected to be earnings accretive from the first full year of ownership, with further upside expected from procurement optimisation, centralised maintenance and disciplined integration over time.”

“The transaction has also been structured in line with our disciplined strategic approach to capital allocation with no equity dilution and a continued focus on balance sheet strength. In line with our five-year strategy, we remain committed to delivering sustainable growth while maintaining an attractive dividend profile for our shareholders and a healthy leverage profile.” 

Toufic Mitri, Managing Director at National Taxi, stated: “National Taxi has been a prominent taxi operator in Dubai and Abu Dhabi for 26 years. Throughout the past two decades, the company has consistently experienced steady growth, adopted new technologies and received multiple accolades. In the past year we appointed Emirates NBD Capital Limited and Lazard Gulf Limited who undertook a competitive process to assess investor interest for the potential acquisition of National Taxi, attracting attention from investors across North America, Europe, Middle East and Central Asia. Ultimately, DTC submitted the most compelling proposal, and we are confident that DTC will guide National Taxi through its next phase of development.”

National Taxi is one of the few operators with a meaningful, licensed presence in both Dubai and Abu Dhabi, holding 1,734 plates in Dubai and 800 plates in Abu Dhabi and Al Ain. The supply of taxi plates in both emirates is tightly regulated and subject to controlled issuance, creating a high barrier to entry and significant scarcity value.

The combined pro forma fleet across DTC and National Taxi is expected to exceed 14,000 vehicles as of May 2026, serving an estimated 78 million annual trips across the UAE. The combined business would benefit from operational alignment across fleet procurement, maintenance, driver management and digital platform integration, including through DTC’s landmark strategic partnership with Bolt.

The taxi and ride-hailing market across Dubai and Abu Dhabi is expected to see continued strong growth in the coming years, supported by historically strong population expansion and visitor inflows and continued infrastructure investment. The Abu Dhabi market is structurally attractive, with a fragmented competitive landscape and high barriers to entry, providing DTC with a platform for long-term growth and optionality for further geographic expansion.

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