Latest news with #Parkonic
What's On
6 days ago
- Automotive
- What's On
You can now pay for parking using your Salik account
Salik is offering ticketless parking to residents of Deira Enrichment Project… In the latest from a slew of road network and parking updates in the city, Salik has now introduced ticketless parking for residents and visitors of the Deira Enrichment Project. A new ticketless system implemented through Salik's partner firm Parkonic will allow some residents to enter and exit parking zones using their vehicle licence plates as digital tickets. No need for physical tickets or payment apps. Residents can have a yearly membership through Parkonic's app, costing Dhs5,000. Surprisingly, visitors can also have an annual membership, albeit a little pricier, for Dhs7,500, both of these prices excluding a five per cent value-added tax. Including VAT, an hourly parking costs Dh5 and Dh25 for overnight, including VAT across eleven districts. Parkonic, like Parkin, is one of the largest private parking operators in the UAE. Salik has collaborated with them to enhance parking and payment systems across the UAE by eliminating the need for apps and tickets and using Salik's e-wallet system. According to a report by Khaleej Times, the partnership is based on a five-year contract, during which the collaboration will result in the integration of Salik's e-Wallet into 107-plus locations under it's operation and any future locations it may operate in the UAE. Earlier this year, Salik introduced variable toll pricing. The new dynamic pricing applies for all days of the year, except Ramadan, which will have separate rates, and was implemented starting January 31, allowing motorists to travel toll free in certain passages of time in the day. Adjustments have been made according to peak and non-peak weekdays, the toll sits at Dhs6 during morning peak hours (6am to 10am) and evening peak hours (4pm to 8pm). During off-peak hours, between 10am and 4pm, and from 8pm to 1am, the toll is Dhs4. On Sundays, excluding public holidays, special occasions, or major events, the toll is Dhs4 throughout the day and free from 1am to 6am. @ Images: Getty > Sign up for FREE to get exclusive updates that you are interested in
Khaleej Times
6 days ago
- Business
- Khaleej Times
Dubai: Some tenants can now pay for building parking through Salik account
Some Dubai tenants can pay for parking through a Salik account as vehicle licence plates become digital tickets. Dubai's sole toll-gate operator Salik has introduced ticketless parking for tenants and visitors of the Deira Enrichment Project who can pay through their Salik accounts. According to information displayed by Salik and its partner firm Parkonic, residents can have a yearly membership available through Salik partner Parkonic's app for Dh5,000. Visitors can have an annual membership through the Parkonic app for Dh7,500. These exclude a five per cent value-added tax (VAT). An hourly parking costs Dh5 and Dh25 for overnight, including VAT. A statement from Salik was awaited till the filing of this report. According to information available on the Deira Enrichment Project, there are eleven districts. Salik collaborated with Parkonic, one of the largest private parking operators in the UAE, to enhance parking payment experiences across the UAE by integrating Salik's e-wallet system. The partnership is based on a five-year contract, during which Parkonic will integrate Salik's e-Wallet into 107-plus locations it operates and any future locations it may operate in the UAE. The agreement also marks the first time Salik has expanded its service offering outside Dubai. The toll gate operator has expanded into different verticals, tying up with a number of commercial entities such as Emaar Mall, Dubai Mall, Union Coop and others. Earlier this year, Salik introduced variable toll pricing on January 21 with peak rates from 6am to 10am and 4pm to 8pm at Dh6 per crossing. Off-peak rates were priced at Dh4 per trip from 10am to 4pm and 8pm to 1am. There is zero tariff from 1am to 6am. On Sundays, the toll gate costs Dh4 per trip throughout the day, except for late night hours. As per the terms of the conditions, the default payment method is the visitor's Salik account unless another payment method is selected by the visitor. It advised visitors without a Salik account or insufficient balance to use an alternative payment method before exiting the park. Failure to pay the applicable parking fee may result in fines, blacklisting or legal action.
Khaleej Times
6 days ago
- Business
- Khaleej Times
Salik revenue soars over Dh750 million in Q1 2025 from variable rates, new toll gates, fines
The introduction of variable pricing, two new toll gates, and revenues from fines all contributed to a robust Q1 2025 performance by Salik PJSC, Dubai's exclusive toll gate operator. The company on Tuesday announced it registered Dh751.6 million total revenue from January to March this year for 33.7 per cent YoY (year on year) growth. Its net profit after taxes also surged by 33.7 per cent to Dh370.6 million in the first three months of 2025. Salik's total chargeable trips reached 158 million, following the introduction of variable pricing at the end of January 2025 and the launch of the two new toll gates in November 2024. Of this, the chargeable trips during the peak period (when the toll gate fee is Dh6) totaled 39.3 million trips, and 107.5 million during the off-peak period (Dh4). Between 1am and 6am, when Salik is free, the trips registered 11.2 million in Q1 2025. Revenue from fines increased 16.2 per cent year on year to Dh68.4 million in the first quarter. The number of net violations (accepted minus dismissed violations) grew by 15 per cent in Q1 2025, reaching around 786,000. The revenue from fines contributed 9.1 per cent to total revenue in Q1 2025. Salik also registered strong growth from its ancillary revenue streams. The total revenue from Salik's parking partnerships with Emaar Malls and Parkonic reached Dh2.8 million in Q1 2025. Revenue from tag activation fees grew 17.4 per cent to Dh11.5 million. 'Profitability is robust' 'We've entered 2025 with strong momentum, with our core tolling business continuing to thrive, bolstered by the opening of two new toll gates in late 2024,' said Salik CEO Ibrahim Sultan Al Haddad in a statement sent to Khaleej Times, adding: 'We have also maintained progress in our ancillary revenue streams, with both the Dubai Mall and Parkonic parking partnerships seeing good traction with users in the first quarter. 'Total chargeable trips, accounting for the new variable pricing, reached 158 million, with total revenue growth exceeding 30 per cent. Profitability is also robust,' Al Haddad continued, noting EBITDA (earnings before interest, taxes, depreciation, and amortisation) growth of more than 35 per cent, With a healthy first quarter, Al Haddad said the total revenue guidance for the full year remains unchanged, and is expected to grow by 28 to 29 per cent, including the contribution of the two new toll gates, 'while tapping new opportunities.' Mattar Al Tayer, chairman of the Board of Directors of Salik, added: 'Our exceptional Q1 performance reflects a continued focus on delivering long-term value to shareholders and our ambition to become a global leader in providing smart and sustainable mobility solutions. We expect total revenue to grow 28 to 29 per cent by the end of 2024 driven by the launch of operations in geographies outside of Dubai and the exploration of new partnerships to further enhance user experience and support both short and long-term earnings growth.' Salik introduced variable pricing on January 31 'aimed at enhancing traffic flow across Dubai's road networks.' The two new toll gates, Business Bay and Al Safa South, meanwhile, have been in operation since November 24, 2024. Salik has also been operating a barrier-less parking system at Dubai Mall since July 1, 2024. The toll operator also collaborated with Parkonic for a five-year contract, during which Parkonic will integrate Salik's e-wallet into the 107+ locations it operates and any future locations it may operate in the UAE. The agreement also marks the first time Salik has expanded its service offering outside of Dubai. Salik is also in the process of launching customised tags to allow corporate customers to personalise Salik tags with unique designs and messages.
Dubai Eye
13-05-2025
- Business
- Dubai Eye
Salik posts robust results boosted by new toll gates, variable pricing
Dubai's toll gate operator Salik has reported strong first-quarter results for 2025, with total revenue jumping nearly 34 per cent year-on-year to AED 751.6 million. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also rose sharply, up nearly 38 per cent to AED 519.6 million. The company's tolling business saw 158 million chargeable trips during the quarter, helped by the rollout of variable pricing earlier this year and the addition of two new toll gates late last year. Salik's net profit before tax came in at AED 407.2 million, a 33.6 per cent increase from the same period in 2024. Mattar Al Tayer, Chairman of Salik's Board of Directors, called the performance 'exceptional' and credited Dubai's strong economic growth and strategic leadership. He added the company expects annual revenue to grow by up to 29 per cent and plans to expand operations beyond Dubai. CEO Ibrahim Sultan Al Haddad said the company also saw encouraging results from its parking partnerships with Dubai Mall and Parkonic, which brought in AED 2.8 million in revenue in the first quarter. Salik Company announces its financial results for Q1 2025. @Salik_ae — Dubai Media Office (@DXBMediaOffice) May 13, 2025
Al Etihad
13-05-2025
- Business
- Al Etihad
Salik reports Dh 751.6 million revenue in Q1 2025
13 May 2025 16:15 DUBAI (WAM)Salik Company, Dubai's exclusive toll gate operator, today announced its financial results for the three-month period ended March 31, 2025 (Q1 2025). Total revenue for Q1 grew by 33.7 per cent YoY to reach Dh751.6 for Q1 increased 37.9 per cent YoY to Dh519.6 million. In Salik's core tolling business, total chargeable trips reached 158.0 million following the introduction of variable pricing at the end of January 2025 and the launch of the two new toll gates in November margin reached 69.1 per cent in Q1 2025, compared to 67.1 per cent in Q1 2024, representing a 210 bps expansion YoY, supported by strong revenue growth in the period. The EBITDA margin also improved in comparison to 68.9 per cent in net profit before taxes totalled Dh407.2 million in Q1 2025, marking a strong 33.6 per cent YoY Al Tayer, Chairman of the Board of Directors of Salik, said, 'Our exceptional Q1 performance reflects a continued focus on delivering long-term value to shareholders and our ambition to become a global leader in providing smart and sustainable mobility solutions. Dubai's robust economic growth – driven by the visionary leadership of the emirate- has played a key role in fuelling our positive momentum and creating a strong foundation for long-term sustainable growth."He added that the company expects annual total revenue to grow by between 28 - 29 per cent, expressing optimism about diversifying its operations, expanding beyond the Emirate of Dubai, and exploring new partnerships aimed at enhancing customer experience — all of which are expected to contribute positively to both short- and long-term profit Sultan Al Haddad, Chief Executive Officer of Salik, commented, 'We've entered 2025 with strong momentum, with our core tolling business continuing to thrive, bolstered by the opening of two new toll gates in late 2024. We have also maintained progress in our ancillary revenue streams, with both the Dubai Mall and Parkonic parking partnerships seeing good traction with users in the first quarter.'Total chargeable trips, accounting for the new variable pricing, reached 158 million, with total revenue growth exceeding 30 per cent. Total revenue from Salik's parking partnerships with Emaar Malls and Parkonic reached Dh2.8 million in Q1 2025.
