If you love to drive cars and driving is an everyday job for you, especially in Dubai, you must’ve heard about Salik. However, if you live in Dubai and are still unaware of Salik, then let us tell you that Salik is the name of the road fee system in Dubai.
Moreover, Dubai’s road toll operator has also announced selling 1.5 billion shares. YES! That’s one big of news for stock investors and traders. And if the thought of buying these stocks is pondering over your mind, do not worry at all. Stick with us, and we will tell you how you can also buy these stocks, being a resident of the UAE.
Passing through certain destinations and roads, there is a specific amount of fee that you have to pay, which is the road fee system. Yet some vehicles are free from this road fee.
- Police and military vehicles
- Ambulances
- School, college, and University buses
Like most countries, you also get to have the service of the Salik tag. Because of the Salik tag, you won’t have to stop at every stop as you have to pay a specific price in advance.
Salik
Salik, as a word, means opening or clearance in the Arabic language. As previously explained, it is a road pricing system launched in 2007. Salik currently has eight toll booths in different locations all over Dubai. More Toll gates are expected to be built and present ones to be modified because according to Dubai’s law and order, the toll booths can be removed and modified, whereas new booths can also be built. The present toll booths are located in
- Al Safa
- Al Gharhoud
- Al Mazar South
- Al Mamzar North
- Al Maktoum Bridge
- Jebel Ali
- Al Barsha
- DXB airport tunnel
Buying of Salik Shares
You can buy these Salik shares as soon as 13 September in addition as per research, 481 million road trips were registered in 2021 and 267 million from January to march 2022
Purchases can be made through different banks. Most of these banks are from Dubai. Some of them are listed below.
- Abu Dhabi Islamic Bank and Abu Dhabi Commercial Bank
- Dubai Islamic Bank, Sharjah Islamic Bank, Emirates Islamic Bank
Where there are investments, there are doubts as well. Just for your information, Salik has made almost a 1.69billion dirhams in 2021 and has crossed the mark of 900 million dirhams just by the half of 2022.
We can also assure you that Salik is safe for your investment, and why wouldn’t it be? Salik is one of the few organizations that assure you that the UAE government controls 80 percent of it, which gives us another reason to invest in it.
The chief executive of the toll operator has said that within the announcement being made, we have received very positive responses throughout the globe.
Conclusion
Investing in stocks is a big chance because the results are often seen as life-changing. As big as the company Salik is. It is most likely expected that the investments could change the lives of many souls.
As far as Dubai’s stock market is concerned. This was already expected from the Son of Dubai’s ruler, sheik Rashid Muhammad bin al Maktoum who announced that because of his broader perspectives and the prosperity of the country, he would list ten industries on the stock market.
It is also expected that there might be a slight price change in the fee that Salik is currently changing. Not only that, but in Dubai, there is an estimated average of 540 cars per 1000 people. Almost 2.9 million of Dubai’s population uses the Salik system. Hence, it is another reason to invest for.
Research sources ( https://www.edarabia.com/what-is-salik-guide/#9
https://www.khaleejtimes.com/transport/dubai-how-can-uae-residents-buy-salik-shares?_refresh=true
https://en.wikipedia.org/wiki/Al-Mazar,_Jenin
https://news.yahoo.com/dubai-road-toll-operator-salik-055119279.html