Dubai Taxi Company to Acquire National Taxi in $394.8 Million Landmark Deal

Dubai Taxi Company (DTC) has announced that it has entered into a Sales and Purchase Agreement (SPA) to acquire 100% of the share capital of National Taxi. The acquisition was announced through the Dubai Media Office on 13 May.

The deal is valued at approximately AED 1.45 billion ($394.8 million), making it one of the largest acquisitions in the UAE’s transport industry. The transaction is expected to be completed in the third quarter of 2026, subject to regulatory approvals, including those from Dubai’s Roads and Transport Authority and Abu Dhabi’s Integrated Transport Centre.

DTC informed the Dubai Financial Market that the acquisition will be financed through new bank debt facilities without any new equity issuance. The move is expected to increase DTC’s market share in Dubai from 47% to 59%. It also marks a major step in the company’s expansion into Abu Dhabi, where it is projected to secure an estimated 12% market share.

National Taxi, one of the UAE’s established taxi operators, was founded in 2000 and currently operates approximately 2,500 licensed plates and a fleet of more than 2,700 taxis across Dubai, Abu Dhabi, and Al Ain. The company began operations with a fleet of just 50 vehicles and attracted investors from North America, Europe, the Middle East, and Central Asia, according to Managing Director Toufic Mitri.

As of March 2026, DTC’s total operational fleet stood at 11,417 vehicles, reflecting 16% growth across its taxi, limousine, bus, and delivery bike segments. During the previous year, the company’s taxis and limousines completed more than 53 million trips, including 25.4 million taxi trips.

According to figures released by Dubai Taxi, National Taxi generated AED 774 million in net revenue, AED 183 million in EBITDA, and AED 101 million in net profit for the year ended 31 July 2025. Fleet utilisation was estimated at 98% during the same period.

In the first quarter of 2026, DTC reported revenue of AED 551.1 million. However, net income declined by 39% to AED 50.7 million due to weaker performance in March linked to regional geopolitical tensions in the Middle East, despite strong results recorded in January and February. The company’s stock price currently stands at AED 2.01, down 7% since the beginning of the year.

According to available data, Dubai’s growing population and the estimated 802 million passengers using public transport are expected to support the acquisition of National Taxi by DTC. Analysts believe the transaction will enable DTC to control a fleet of more than 14,000 vehicles and increase annual passenger trips to nearly 78 million across Dubai and Abu Dhabi.

During the first quarter, Dubai Taxi partnered with Bolt, a European mobility company, and entered into a separate strategic agreement with National Taxi to integrate 1,823 vehicles into the Bolt e-hailing platform.

The company also launched fully driverless commercial ride-hailing services in partnership with Apollo Go, the autonomous mobility platform of Baidu. The initiative began with an initial rollout of 50 autonomous vehicles, with plans to expand to more than 1,000 vehicles in the coming years. The project supports Dubai’s target of transitioning 25% of all journeys to autonomous transport by 2030.