Dubai Taxi Reports AED 735.5 Million in Quarterly Revenue as Market Share Reaches 59%

Revenue rises 25.7% while net profit declines 25.3%; the company reports a gradual recovery in demand and plans to begin repaying acquisition-related debt in 2027.

Dubai Taxi Company reported revenue of AED 735.5 million for the third quarter of 2026, representing a 25.7% year-on-year increase, supported by the consolidation of National Taxi's financial results following the completion of its acquisition in July. The company also reported a gradual improvement in demand for mobility services across Dubai.

According to financial results released on November 9, 2026, net profit declined by 25.3% to AED 57.1 million, reflecting higher financing costs and pressure on operating profitability despite revenue growth.

Dubai Taxi strengthened its position in the UAE mobility market following its acquisition of National Taxi in a transaction valued at approximately AED 1.45 billion, completed on July 8, 2026.

The acquisition increased the group's market share in Dubai from 47% to approximately 59%, while establishing a presence in Abu Dhabi with an estimated 12% market share. The combined fleet now exceeds 9,500 vehicles.

The company also announced that approximately 30% of the National Taxi integration process had been completed, generating operational savings of AED 3.9 million during the third quarter.

Mansoor Al Falasi, CEO of Dubai Taxi Company, said in statements published on November 11 that demand for the company's mobility services had begun recovering gradually, supported by aviation activity and the return of major exhibitions and events in Dubai.

He added that October delivered encouraging performance and that preliminary indicators for the fourth quarter were positive, while the company remained focused on cost control and improving profit margins.

Company data showed that the year-on-year decline in taxi and limousine trips, excluding the newly acquired business, narrowed from 7.8% in July to 1.9% in September, suggesting that demand was approaching the levels recorded a year earlier.

Dubai Taxi's net debt rose to approximately AED 2 billion at the end of September 2026, compared with AED 930.3 million a year earlier, largely reflecting financing associated with the National Taxi acquisition.

Al Falasi explained that the company plans to begin gradually repaying its debt from early 2027, in coordination with its financing bank.

Dubai Taxi also intends to maintain its dividend policy of distributing at least 85% of annual net profit to shareholders.

Al Rehla Perspective | Tourism Mobility Between Fleet Expansion and Profitability Pressures

Dubai Taxi's financial results highlight the importance of mobility services within the operational infrastructure of a major tourism destination such as Dubai, which accommodates substantial international visitor traffic and hosts exhibitions and events throughout the year.

The group's expansion through acquisition provides greater operational capacity. However, a larger fleet and higher market share do not necessarily translate immediately into improved service quality or shorter passenger waiting times.

The results also reveal an important financial contrast: revenue growth accompanied by declining profits and increased financing costs.

Assessing the expansion's impact on tourism mobility will therefore require monitoring actual trip volumes, vehicle utilization rates, operating expenses and service standards, rather than relying solely on fleet size or market share indicators.