Dubai: The Roads and Transport Authority (RTA) on Monday announced the names of seven organisations and companies that have won the bids to display their names or brands at Dubai Metro stations.
The naming rights are for the Red Line, which will be operational in September 2009, and the Green Line, which will be operational in March 2010.
The Naming Rights Project, the first of its kind in the region, will help raise revenue for the public transport infrastructure and improve transport services.
The RTA had offered 23 of the 47 stations on the Red and Green lines of the Dubai Metro for corporate branding.
The proceeds from the first batch of bids has touched Dh1.804 billion.
Mattar Al Tayer, Chairman of the Board and Executive Director of the RTA, said the initiative sets a new global benchmark in partnerships between the government and private sectors.
The brands that met the selection criteria were Emirates Telecommunication Corporation (Etisalat Station), Majid Al Futtaim Group (Mall of the Emirates Station and Deira City Centre Station).
Stations named after companies/projects would be GGICO Station, Sharaf DG Station, First Gulf Bank Station, Nakheel Station, The Palm Deira Station, Nakheel Harbour and Tower Station and Dubai Airport Free Zone Authority Station.
"Companies and organisations that contributed to funding Dubai Metro Stations include Dubai Holding, which will build six stations namely: Creek, Jaddaf, Emirates Towers, Dubai Health Care City, Tecom and Business Bay.
"The list also includes Emirates airline (Emirates Station), Emaar (Burj Dubai Station) and Dubai Multi Commodities Centre (Jumeirah Lakes Towers)," Al Tayer said.
Abdul Mohsen Ebrahim, CEO of RTA Strategy and Corporate Governance, said the Dubai Metro Naming Rights initiative commanded the huge attention of CEOs and senior marketing executives of leading local and global companies and brands.
More than 250 companies and brands had applied.
He said The RTA has kept in place a stringent mechanism for controlling participating brands to prevent any overuse or excessive commercial exploitation.
The RTA has maintained the names of stations located at the landmarks and historical locations - such as Bani Yas Station - without imposing commercial names.
Similarly, a number of stations carry the names of districts. These include Shindagha and Al Ras in Deira.
The project's benefits are three-fold, said Al Tayer. It not only provides businesses with unprecedented exposure but also helps generate revenue that will be reinvested in the development of the Metro network.
Money train: New fund routes laid
- Dh900 million out of Dh1.804 billion generated from financing construction of stations.
- The rest of the revenues generated by the naming rights initiative.
- Naming rights of the rest of the stations were bought at values between Dh70 and Dh90 million
- Value of the the stations varied depending on their locations, the expected number of commuters from each station and other factors.