SALK and Emaar to Launch A Seamless Parking System at Dubai Mall
SALK, the exclusive operator of toll gates in Dubai, has announced a collaboration with Emaar Malls Management Company.
Which includes launching an efficient and seamless parking management system at the iconic Dubai Mall.
Under the terms of the agreement, SALK’s technology will provide Dubai Mall visitors with a smooth and barrier-free parking experience.
Moreover, the fees collection will be automatic without tickets, using an automatic license plate recognition system.
While charges deduction will be from visitors’ accounts in accordance with the operating rules set by Emaar Malls Management Company.
A New Service by SALK and EMAR at Dubai Mall
The service launching will be at Dubai Mall in the third quarter of 2024.
While SALK’s expected revenue will be determined after Emaar Malls Management Company completes the operating rules for this project.
Ibrahim Sultan Al Haddad, CEO and Board Member of SALK, said:
“We are delighted to collaborate with Emaar Malls Management Company on this pioneering initiative in one of Dubai’s most iconic destinations.
This project is important to the company’s strategy of providing sustainable and intelligent mobility solutions for vehicle drivers in Dubai.
As well as our goal of diversifying revenue sources.
“SALK has the advanced capabilities to provide a smooth and convenient experience for customers.
As the system allows for the elimination of gates or barriers in Dubai Mall parking.
Which helps to reduce congestion and facilitate traffic flow for customers.
We look forward to leveraging the successes of this initiative to offer the service at other locations in the city.”
SALK has an exceptional database.
With over 2 million active accounts and 4 million active registered vehicles.
This means that there is no great need to attract customers; more than 90% of Dubai’s vehicles are already registered with SALK.
Which will be responsible for designing, financing, developing, installing, and managing the parking system.
While Dubai Mall will provide the required infrastructure and maintenance of the parking.
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A Smooth Visit for Dubai Mall Visitors
Ahmed Al Marri, Executive Board Member of Emaar Properties, Managing Director of Emaar Charity Foundation, said:
“We are delighted to announce our collaboration with SALK.
Which has the ability to provide a smooth visit for Dubai Mall visitors.
This collaboration stems from our commitment to continuously improving the experiences of our guests at Dubai Mall, the world’s most visited shopping center.
“We are pleased to make parking service more convenient and seamless with the introduction of SALK’s transportation solutions and experience.
Also we are confident that this initiative will not only meet but also exceed the expectations of our guests.
As it will enhance the value of every visit and consolidate Dubai Mall’s position as the leading shopping and lifestyle destination par excellence.”
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It is worth noting that SALK is looking to expand into the field of private parking systems in Dubai.
Which is estimated to number more than 50,000 spaces.
Which is estimated to number more than 50,000 spaces.
The company has a strong opportunity to expand into the paid private parking sector and explore growth options available in this field.
By providing a smooth control system for entering residential and commercial parking.
Such as companies and malls using the SALK toll collection platform via the application and license plate.
Which are both essential parts of the company’s business model.
Earlier this year, SALK’s management reaffirmed its expectations for 2023.
This is after achieving strong revenue growth in the third quarter.
Supported by a continued increase in the number of trips that took place through its eight toll gates.
In addition to the strong performance of its pre-financing, tax, depreciation, and amortization (EBITDA) margin.
The company expects the number of revenue-generating trips to grow by 9-10% in 2023, with an EBITDA margin ranging between 66-67%.
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