Dubai Taxi moves into Abu Dhabi with AED 1.5 bn National Taxi acquisition

Dubai Taxi is taking over a rival and finally crossing into Abu Dhabi. Dubai Taxi Company (DTC) signed an SPA to acquire rival operator National Taxi in an AED 1.45 bn debt-funded transaction that would hand it a much larger slice of Dubai’s taxi market while giving it a foothold in the capital for the first time, according to a press release (pdf) and separate disclosure (pdf).

The target: National Taxi operates more than 2.5k licensed plates and over 2.7k vehicles across Dubai, Abu Dhabi, and Al Ain. Its FY 2024-2025 earnings saw it bring in AED 774 mn in revenues and AED 101 mn in net income.

DTC said the acquisition will be fully funded through new bank debt facilities, with no new share issuance or dilution for existing shareholders. The transaction is expected to close in early 3Q 2026 pending regulatory approvals.

What’s ahead: DTC expects its Dubai market share to climb to roughly 59% post-transaction (from 47%) and to enter Abu Dhabi with an estimated 12% market share. Combined, DTC and National Taxi would operate a fleet exceeding 14k vehicles and serving around 78 mn trips annually across the UAE.

And for National Taxi? DTC plans to keep the National Taxi brand after the transaction closes and will fold finance, procurement, and other back-office functions into its own operations.

Why it matters: The acquisition — DTC’s first major transaction since listing — comes amid a wider consolidation drive in Dubai and the wider UAE from state-owned entities. Just earlier this week Dubai Holding became the largest shareholder in Emaar Properties, acquiring a 22.27% stake from Investment Corporation of Dubai in a move that was described as “a government-level restructuring rather than a commercial transaction.” Over in Abu Dhabi, we’ve been reporting on a similar trend from the likes of IHC, L’imad, and Judan Financial.