Dubai: The Dubai Roads and Transport Authority (RTA) has awarded the naming rights of Al Quoz Metro Station to Noor Islamic Bank, said a senior official.
"Al Quoz Station on Shaikh Zayed Road will now be called Noor Islamic Bank Station as the bank has bought the naming rights for the station," said Abdul Mohsin Ebrahim Younes, Chief Executive Officer of Strategy and Corporate Governance at the RTA.
He told a press conference yesterday that the station will open on Saturday. Ebrahim said that the naming rights will be valid for 10 years.
Al Quoz Station is the 10th station to be branded. The RTA has offered 23 out of the total 47 stations on both the Red and Green Lines, for corporate branding.
The programme is part of the RTA's major public-private partnership initiative launched in March 2008.
Out of the total 47 stations for the Dubai Metro network, nine have already been named after companies and financial houses, which funded the construction of the stations.
The remaining 15 stations will continue to bear the names of landmarks and historical areas in Dubai.
Ebrahim, however, did not reveal the price the bank paid to get the naming rights. "Each of the 23 stations for naming has a unique value, calculated according to its location, anticipated passenger number and other variable factors.
"The average price which we got for stations is around Dh90 to Dh100 million for 10 years," he added.