Ibrahim & Partners acted as sole legal counsel for Dubai Taxi Company (DTC) on its strategic partnership with Bolt to launch an e-hailing platform in Dubai.
Bolt was advised by its in-house legal team and did not appoint external legal counsel, according to a person familiar with the matter.
The launch was announced during a signing ceremony between DTC and Bolt at GITEX Global 2024.
Bolt, which operates in over 600 cities across 50 countries, will help DTC capture a larger share of Dubai’s AED 6 billion taxi and e-hailing market.
The partnership brings together DTC’s position as the UAE’s largest fleet owner with over 6,000 taxis and limousines and Bolt’s digital infrastructure to create a local mobility leader.
It supports DTC’s goal of transitioning 80% of taxi trips to e-booking as part of the Roads & Transport Authority (RTA)’s directives.
“We are honored to have had the opportunity to represent DTC in this remarkable transaction, which aligns with the company’s ambitious growth strategy,” said Ahmed Ibrahim, managing partner at Ibrahim & Partners. “This partnership with Bolt will undoubtedly strengthen DTC’s position as a leader in smart transportation services.”
Ibrahim & Partners previously acted as legal counsel for DTC on its Dubai IPO in 2023.
The partnership marks the next step for Bolt in its Middle East expansion plans, having operated in Saudi Arabia since 2017 and Egypt earlier this year.
