Dubai in the United Arab Emirates will open two new toll gates on November twenty-fourth to bring the Salik road toll system up to ten gates. The Business Bay Gate and Al Safa South Gate, launched by Salik PJSC Multipurpose, are preferably aimed at enhancing accessibility and decreasing traffic jams in some of the city’s INITIALS. This is the first time new toll gates will be implemented since 2007, and the new toll gates will be located along Al Khail Road and Sheikh Zayed Road, the main entries into the city.
The expansion will have a great positive impact on the daily five hundred thousand plus drivers, especially those using the road from Sharjah and Al Nahda. According to Salik, revenue for the next year is expected to rise within the range of 7-8%, and the value of the newly opened gates is estimated to be approximately Dh2.73 billion. This significant investment is also in line with Dubai’s drive towards the development of its transport infrastructure and is in line with the emirate’s economic development strategy.
The overview of the economy of Dubai is still growing at an ever-astounding rate. The Gross domestic product of the emirate stood at AED 115 billion in the first quarter of 2024, which is actually 3.2 percent higher than that of the year 2023. Such stable and continuous growth is attributed to constant infrastructure developments and projects as well as schemes, including the extension of the Salik system that is in line with the strategic vision of the Dubai Economic Agenda D33.
Already, the aim of the emirate to at least double the size of the economy and secure its place among the three top urban economies globally can be seen in the emphasis on improving transport. This is a plus for local people who use the transport and is very essential in the act of putting into motion the wheels of the economy and attracting foreign investors. This is to mean that the movements of traffic flows and the general financial capabilities of the toll gates would be well observed.
Besides the development of transport infrastructure, laws and initiatives have been developed and implemented in the fields of activity. Suggestions of a period of change are indicative of trends in existing bills and acts covering real estate, investment encouragement and the petrol price mechanisms. These changes are to sustain Dubais position as a business City and create conditions favorable for Postgraduate learning and development in line with local and international parties’ interests.
This week, a UAE-Uganda Business Forum was held in Dubai, which highlighted the continued arm extension of the UAE to foster economic cooperation. This is a yearly phenomenon, and it forms a ground through which potential Middle Eastern investors can be wined into investing in Uganda- a move that is a step up to take the economic diplomacy to the next level beyond the region. Such events make it even clearer that Dubai is steadily emerging as a major player courtesy of its strategic position for business.
The Futures Market in Dubai also emerged recording enhanced performance with 60% enhancement in net profit for the initial nine months of 2024. It means there is healthy demand for trading in Dubai because of many investors coming up and good performance in different sectors. This good performance is an indication that people are investing with confidence regardless of the current volatile market all over the world.
New reports have revealed that Dubai’s non-oil economic activity has grown at the fastest rate in the last two years since 2019. The manufacturing PMI climbed to an average of 58.5 this February, especially averaged to account for seasonality, showing that operating conditions have improved. Recruitment continues to be strong, with employment growth rising to the best level seen since August 2015. The development is associated with a higher production rate, new clients, higher demand, and a steady recovery of the economy after the pandemic.
Various changes in the Salik toll system as well as the participation of Dubai in the international business forums are the examples of establishment of this perspective as the city opens new aspects of modernization and infrastructure updates. By so doing, Dubai is cementing itself as a regional and global hub for business and investment for future growth in a rapidly consolidating world economy.
