Dubai Metro Blue Line project to start this year


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Work on the Dubai Metro Blue Line will commence this year, the Roads and Transport Authority said on Sunday.

Set to transform the north-east of the city, the Dh18 billion ($4.9 billion) project will feature 14 stations and add 30km to the Metro network, more than half of it underground.

Mattar Al Tayer, director general of the RTA, said: “This year will witness the start of implementation of the Dubai Metro Blue Line project.”

“[It] serves vital areas whose population is expected to reach about one million, according to the Dubai Urban Plan 2040, and achieves connectivity and integration with the Red and Green Lines."

Mr Al Tayer said the Metro accounted for the largest proportion of users of mass transit, shared transport and taxis last year, at 37 per cent.

The RTA said the combined ridership of public transport and shared mobility, including Dubai Metro, tram, buses, marine transport and taxis reached about 702 million, up 13 per cent from 621.4 million in 2022.

The average daily ridership of these modes of transport last year was 1.92 million, compared to 1.7 million in 2022.

When completed, the Blue Line will connect five principal urban regions of Dubai – Bur Dubai and Deira, Downtown and Business Bay, Dubai Silicon Oasis, Dubai Marina and JBR and Expo City Dubai.

Once the Blue Line is complete, the Dubai Metro will be 131km long and have 78 stations, served by 168 trains.

The project is scheduled to be finished in 2029, coinciding with the 20th anniversary of the Dubai Metro.

Profile

Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari

Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.

Number of employees: Over 50

Financing stage: Series B currently being finalised

Investors: Series A - Audacia Capital 

Sector of operation: Transport

Tributes from the UAE's personal finance community

• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style

“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.

Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term. 

From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”

• Sam Instone, director of financial advisory firm AES International

"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed.  Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."

• Demos Kyprianou, a board member of SimplyFI.org

"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."

• Steve Cronin, founder of DeadSimpleSaving.com

"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.

His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.

Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."

• Zach Holz, who blogs about financial independence at The Happiest Teacher

"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen.  He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”

• Tuan Phan, a board member of SimplyFI.org

"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."

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UAE v Zimbabwe A, 50 over series

Fixtures
Thursday, Nov 9 - 9.30am, ICC Academy, Dubai
Saturday, Nov 11 – 9.30am, ICC Academy, Dubai
Monday, Nov 13 – 2pm, Dubai International Stadium
Thursday, Nov 16 – 2pm, ICC Academy, Dubai
Saturday, Nov 18 – 9.30am, ICC Academy, Dubai

Updated: March 28, 2024, 12:11 PM