Dubai's Parkin Comprises Dh320 Million in Q2 2025 Revenue
Parkin Boosts Dubai's Public Parking with Strong Growth and Expansion
Parkin Company PJSC, Dubai's largest provider of paid public parking facilities, has reported a significant increase in financial and operational performance for Q2 2025. The company, known for its smart, organized parking solutions across the emirate, has seen a 56% increase in net profit and a record Dh320 million in total revenues compared to Q2 2024.
Eng Mohamed Abdulla Al Ali, CEO of Parkin, attributes the strong revenue growth to the successful rollout of the "variable parking tariff", increased seasonal card sales, and improved enforcement. This tariff has reclassified public spaces into Standard Parking (109,000 spaces) and Premium Parking (79,700 spaces).
The company's operational footprint has also expanded, managing approximately 211,500 parking spaces by mid-2025, a 6% year-on-year growth. Significant expansions in public parking zones have led to better urban mobility.
Parkin's strategic partnerships have also been instrumental in their growth. They have recently expanded their partnership with Dubai Holding, managing around 29,600 additional paid parking spaces, pushing their total developer-owned portfolio to about 50,400.
In addition to these developments, Parkin collaborates with entities like Dubai’s Islamic Affairs and Charitable Activities Department (IACAD), managing parking for mosques at 59 locations, reflecting their involvement in diverse community sectors.
Despite a slight decline in developer parking spaces due to planned phase-outs at Al Sufouh, there have been new additions in Zone W. Notably, the newly refurbished Al Rigga MSCP re-opened in July 2025, restoring access to 440 spaces equipped with advanced barrierless, ticketless access technology.
Total parking transactions increased 15% year-on-year to 32.9 million, with public parking being the main driver. Multi-story car parking transactions remained flat year-on-year at 3.2k in Q2 2025. Parkin's EBITDA rose to 41% to Dh189.3 million in Q2 2025.
Zone C transactions jumped 17% to 20 million, and Zone D rose 7% to 3.3 million. Public parking spaces increased by 11,700 to 188,700 spaces in Q2 2025, following significant additions in Zone C with 7,800 on-street spaces and Zone D, with 3,800 off-street spaces added.
The Dh25 hourly tariff applies only during major events in the reclassified public spaces. With these impressive figures and strategic expansions, Parkin continues to lead Dubai’s paid public parking market, combining technological innovation and strategic partnerships.
- The news of Parkin Company PJSC's growth and expansion in Dubai's paid public parking facilities, including a 56% increase in net profit and Dh320 million in total revenues, made headlines in the business section.
- In the entertainment sector, Parkin's strategic collaboration with Dubai's Islamic Affairs and Charitable Activities Department (IACAD) has resulted in managing parking for mosques at 59 locations.
- The technology sector has played a significant role in Parkin's growth, with the implementation of advanced barrierless, ticketless access technology in newly refurbished parking spaces.
- In the finance and sports industries, the increased revenue and operational performance of Parkin Company PJSC is expected to positively influence urban mobility and accessibility in Dubai, especially during major events.
