Abu Dhabi taxi operator Mwasalat sells stake to create 'urban mobility champion'

Emirates Driving Co. also has option to raise stake to 50.6% in Mwasalat

Last updated: July 07, 2025 | 09:08

Manoj Nair, Business Editor

1 MIN READ

The Emirates Driving Company and Mwasalat combine wil look for significant operational synergies in fleet and taxi operations.

Virendra Saklani/Gulf News archive

Dubai: The Abu Dhabi based taxi and fleet operator Mwasalat Holding has sold a sizable 22.5% stake to Emirates Driving Company.

Mwasalat generated over Dh650 million in revenues in 2024, and apart from public buses and taxis, it operates school transport and corporate hire vehicles.

Emirates Driving Company, part of ADX-listed Multiply Group, also has an option to increase its shareholding in Mwasalat to 50.6%, subject to 'completion of certain conditions and relevant regulatory approvals'.

Also Read: Abu Dhabi's Multiply creates media company with global plans

"This strategic investment marks a major milestone in EDC’s long-term growth strategy – reinforcing its position as a mobility champion," said a statement.

The deal will create 'significant' operational synergies and pave the way for 'greater profitability'.

The acquisition, once completed, will set EDC and Mwasalat for collaboration in bus and taxi operations.

"Our goal is to deliver safer, more accessible and intelligent mobility solutions that meet the evolving needs of communities across the UAE," said Khaled Al Shemeili, CEO of Emirates Driving Company.

The deal comes at a time of generational changes in the UAE mobility space, with robo-taxis and air-taxi services on their way. Currently, Dubai and Abu Dhabi are trialing such add-ons to an already comprehensive list of transport services.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.