Dubai Taxi has signed an agreement to acquire full ownership of National Taxi, a ground transport operator with a fleet of more than 2,700 vehicles serving both Dubai and Abu Dhabi.
The deal is valued at AED 1.45 billion. Following completion, Dubai Taxi’s share of the Dubai taxi market is expected to rise from 47 per cent to 59 per cent, making it the dominant operator in the emirate by a considerable margin.
In the year ended July 31, 2025, National Taxi completed 25.4 million trips, operated at a 98 per cent fleet utilisation rate, and generated net revenue of AED 774 million with EBITDA of AED 183 million.
DTC to boost Dubai market share to 59% with National Taxi acquisition
The transaction is expected to raise DTC’s market share in Dubai from 47 per cent to approximately 59 per cent, while giving it a 12 per cent foothold in the Abu Dhabi market – a presence the company currently does not hold.
The combined pro forma fleet across both businesses is expected to exceed 14,000 vehicles as of May 2026, serving an estimated 78 million annual trips across the UAE.
“The acquisition of National Taxi is a strong strategic and operational fit for DTC, enhancing our scale and strengthening our market position. The transaction is expected to be earnings accretive from the first full year of ownership, with further upside expected from procurement optimisation, centralised maintenance and disciplined integration over time,” DTC’s Group CEO, Mansoor Rahma Alfalasi said in a statement.
“The transaction has also been structured in line with our disciplined strategic approach to capital allocation with no equity dilution and a continued focus on balance sheet strength. In line with our five-year strategy, we remain committed to delivering sustainable growth while maintaining an attractive dividend profile for our shareholders and a healthy leverage profile.”
The acquisition has been structured with no new equity issuance, meaning existing shareholders will not face dilution. Net Debt/EBITDA is expected to sit at approximately 2.5x at completion, with the company targeting a reduction in leverage over time through what it describes as strong cash flow generation.
Dubai Taxi Company expands UAE footprint with 2,700-vehicle fleet acquisition
National Taxi is one of the few operators holding a licensed presence in both Dubai and Abu Dhabi, with 1,734 plates in Dubai and 800 plates in Abu Dhabi and Al Ain. Taxi plates in both emirates are subject to controlled issuance by regulators, creating barriers to entry that make the licences themselves a resource of value.
DTC intends to retain the National Taxi brand following the completion of the deal and plans a partial integration – maintaining customer-facing operations independently while consolidating central functions such as finance, procurement and back-office operations. Identified synergies are expected to reach approximately 5 per cent of National Taxi’s net revenue, driven by fleet procurement savings, centralised maintenance and back-office consolidation.
The combined business will also benefit from DTC’s partnership with ride-hailing platform Bolt, with integration of digital platforms forming part of the post-acquisition roadmap.
“National Taxi has been a prominent taxi operator in Dubai and Abu Dhabi for 26 years. Throughout the past two decades, the company has consistently experienced steady growth, adopted new technologies and received multiple accolades. In the past year we appointed Emirates NBD Capital Limited and Lazard Gulf Limited who undertook a competitive process to assess investor interest for the potential acquisition of National Taxi, attracting attention from investors across North America, Europe, Middle East and Central Asia. Ultimately, DTC submitted the most compelling proposal, and we are confident that DTC will guide National Taxi through its next phase of development,” Toufic Mitri, Managing Director at National Taxi added.
The transaction is expected to complete in early Q3 2026, subject to regulatory approvals from the Roads and Transport Authority (RTA) and the Integrated Transport Centre (ITC), as well as other standard conditions precedent. DTC has cautioned that there can be no assurance the acquisition will complete as proposed, or at all.
DTC has retained Alvarez & Marsal Middle East Corporate Finance as its financial adviser and DLA Piper as its legal adviser. National Taxi was advised by Emirates NBD Capital Limited and Lazard Gulf Limited on the financial side, with White & Case LLP acting as legal counsel.
