Ibrahim & Partners Advised Dubai Taxi Company on Strategic Partnership with Bolt

Ibrahim & Partners Advised Dubai Taxi Company on Strategic Partnership with Bolt

Ibrahim & Partners served as the sole legal counsel for Dubai Taxi Company (DTC) in its strategic partnership with Bolt to introduce a new e-hailing platform in Dubai. Bolt’s in-house legal team managed their side of the transaction, without appointing external legal counsel.

The announcement came during a signing ceremony at GITEX Global 2024, marking a significant collaboration aimed at capturing a larger portion of Dubai’s AED 6 billion taxi and e-hailing market. Bolt, which operates in over 600 cities across 50 countries, will leverage its digital infrastructure to support DTC, the UAE’s largest fleet operator with over 6,000 taxis and limousines. Together, they aim to lead Dubai’s local mobility landscape.

This partnership aligns with DTC’s objective of converting 80% of its taxi trips to e-booking, in accordance with the Roads & Transport Authority (RTA)’s directives.

Ahmed Ibrahim, Managing Partner at Ibrahim & Partners, commented on the transaction: "We are honored to represent DTC in this strategic move, which reflects their ambitious growth plans. This partnership with Bolt will reinforce DTC's position as a leader in smart transportation services."

Ibrahim & Partners had previously represented DTC in their Dubai IPO in 2023. This latest move also marks Bolt’s continued Middle East expansion, following its entry into Saudi Arabia in 2017 and Egypt earlier in 2024.