Dubai - The naming initiative has so far generated over Dh2 billion in revenue for the RTA.
Be prepared to relearn the name of the Jumeirah Lakes Towers (JLT) Metro station. From September 1, the station will officially be renamed Dubai Multi Commodities Centre (DMCC) Metro station, a Roads and Transport Authority (RTA) spokesperson confirmed to Khaleej Times on Sunday.
DMCC, a freezone authority established by the Dubai government in 2002, is the master developer of the JLT community. The authority regulates, promotes and facilitates trade across a range of goods from gold, diamonds and precious metals to tea, food and industrial materials. It is home to more than 15,000 businesses.
The DMCC station is the latest among other Metro stations along the Red and Green Lines that are named after sponsoring companies or business entities rather than their geographical location.
According to reports, the naming initiative has so far generated over Dh2 billion in revenues for the RTA. The fee is relative to the station's location, but on average, each station has brought in between Dh90-100 million to the RTA. Companies can own the naming rights to a station for a 10-year period.
Several stations on the Red Line have been named after local and international corporate entities, including Emirates Airlines, GGICO, Abu Dhabi Commercial Bank (previously Al Karama station), Noor Islamic Bank, First Abu Dhabi Bank, Sharaf DG, Nakheel, DAMAC Properties (Dubai Marina) and Danube (Jebel Ali Industrial).
On June 28, 2015, the Jebel Ali station was renamed UAE Exchange, and early this year, the First Gulf Bank (FGB) station was renamed First Abu Dhabi Bank Metro station to reflect the merger between FGB and National Bank of Abu Dhabi.
Meanwhile, some developers are also looking at owning the naming rights for one of the stations of the 15km extension of the Dubai Metro to the Expo 2020 site.
Seda Tutu, deputy CEO for sales and marketing at Azizi Developments, which owns several mixed-used buildings in Al Furjan, told Khaleej Times that they are considering this option.
angel@khaleejtimes.com
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