Parkin Achieves Record-Breaking Revenue Milestone

Parkin Breaks Record: Dh320 Million Revenue in 2025 Q2

Dubai's largest paid public parking service provider, Parkin, achieved record revenue in the second quarter of 2025, totaling Dh320 million. The strong revenue growth is attributed to the "variable parking tariffs," increased seasonal pass sales, and successful implementation of stricter controls.

Impact of the New Tariff System

The variable parking tariff system introduced by Parkin in April 2025 categorized public parking lots into new classes. The "Standard Parking" offers 109,000 spaces, while the "Premium Parking" category has 79,700 spaces available. A Dh25 hourly rate is applied exclusively during major events. These changes aim to flexibly cater to increased demand at various locations.

Expansion of Parking Spaces

By the end of the second quarter, Parkin managed a total of 211,500 parking spaces, representing a 6% increase compared to the previous year. Most new parking spaces appeared in C and D zones. In the C zone, 7,800 new street parking spaces were added, while 3,800 new spaces were developed in the D zone. A total of 4,700 new public parking spaces were incorporated into the system by the end of 2024 and the second quarter of 2025.

Growth of Other Services

Along with variable parking fees, Parkin significantly boosted the sales of seasonal passes. The sale of seasonal passes, coupled with optimized utilization of parking spaces, contributed to the record revenue. Although the number of developer parking lots decreased, their utilization increased as new spaces were introduced in certain zones, such as in April in the W zone.

Strong Traffic and Transactions

The number of parking transactions grew by 15% year-on-year, totaling 32.9 million transactions. The performance of public parking lots particularly improved, with a 17% increase in the C zone and a 7% rise in the D zone. Developer parking lot transactions increased by 35%, thanks to higher utilization.

Future Prospects

As a result of Parkin's record revenue and EBITDA growth, the focus remains on future developments and expansions. The Parkin leadership aims to promote sustainable urban mobility and continues to make parking solutions smarter and more customer-focused.

The continuous innovation and flexible adaptation underpin Parkin's growing success, allowing them to elevate the parking experience in Dubai through dynamic pricing and infrastructure expansion.

(The article source is Parkin Company PJSC news release.)