Dubai-based leading public parking provider Parkin plans to expand its portfolio in 2026, apart from increasing its revenues from public parking spaces by up to 16.3%.
Discussing its roadmap for the year, the parking operator said, “approximately 5,500 to 7,500 new spaces are expected to be added over the course of 2026, driving revenues for the public parking segment to reach between AED 560 million and AED 610 million (USD 166 million).”
The infrastructure expansion will be accomplished through the opening of additional on-street and open-air parking slots, representing a 3.9% increase over the current public parking portfolio of 193,200 spaces. It is also worth mentioning that the venture last year entered into a strategic agreement with Dubai Holding, to introduce parking solutions across several master-planned communities in Dubai.
Parkin will oversee end-to-end management of parking operations by deploying its advanced digital technologies, enforcement systems and real-time data analytics, which will help the public parking provider to enhance its operational efficiency, apart from optimising parking management across the designated areas. Implementing the concept of controlled parking will reduce the increasing pressure on parking availability across key destinations in Dubai.
Meanwhile, Parkin has made public its operational and financial results for Q4 and the full year 2025. Apart from the overall revenue increasing to AED1.326 billion (USD 361 million) in 2025, up 43% year-on-year, net profit reached AED625.5 million (USD 170.32 million), representing an annual increase of 48%.
In Q4 alone, Parkin posted record revenues of AED389.4 million, marking a 47% increase compared to the tally registered in 2024. The company’s earnings before financing costs, taxes, depreciation and amortisation (EBITDA), on the other hand, reached AED232.9 million, reflecting similar growth, while maintaining a 60% margin.
“We closed 2025 with a strong quarter, converting disciplined execution into higher earnings. As in prior periods, we continued to expand our operational footprint, adding both public and developer parking spaces to our portfolio, supported by Dubai’s status as a world-class place to live, work, visit, and invest,” said Eng. Mohamed Abdulla Al Ali, CEO of Parkin.
Breaking down the data segment-wise, Parkin’s public parking revenue increased 29% to AED144.5 million in Q4, supported by factors like an increase in the weighted average hourly tariff to AED3.03 and an increase in the size of the public parking portfolio.
Developer parking revenue, on the other hand, increased 38% to AED28.1 million during the same period, supported by space growth, stronger transaction volumes and the application of the variable tariff in relation to around one third of the developer portfolio.
The company also witnessed revenue increases from seasonal cards and permits in Q4 2025, rising 66% to AED67.4 million. Enforcement revenue increased by 65% to AED127.1 million during the period.
“Seasonal card sales reached record highs as customers continued to recognise the relative value offered by this product. Total transaction volumes were broadly in line with the same period last year, while utilisation moderated as expected, reflecting a greater mix of seasonal card users, as well as the addition of new parking space capacity,” concluded Al Ali.