By Desmond Nleya | November 10, 2025 | 1 min read
Dubai: Parkin Company PJSC, Dubai’s premier public parking operator, posted a remarkable 50 percent increase in net profit for the third quarter of 2025, fueled by record-breaking revenues and continued network expansion across the city.
Total revenue climbed 43 percent year-on-year to AED 343.3 million, driven by higher public parking tariffs, increased seasonal card sales, and stronger enforcement proceeds. EBITDA rose 36 percent to AED 199.8 million, maintaining a solid margin of 58 percent.
The company expanded its network by 11.7 thousand spaces, taking its total to 219,000 parking slots. Public parking saw the largest growth, adding 12.5 thousand new on-street and off-street spaces. The reopening of the upgraded Al Rigga multi-story car park — featuring advanced barrierless access technology — marked a key milestone in enhancing user convenience.
Seasonal card sales surged 126 percent to 81,000, showing strong customer preference for flexible and affordable parking solutions. Despite a slight dip in overall public parking utilisation to 21.3 percent, transaction volumes remained robust at 34.1 million, with the developer and multi-story segments performing strongly.
Enhanced enforcement efforts, powered by smart scanning technology, led to a 63 percent increase in notices issued to 682,000 and a 59 percent rise in fine revenues to AED 103 million, with an impressive 86 percent collection rate.
CEO Eng. Mohamed Abdulla Al Ali credited the company’s strategic execution and innovation partnerships — including the new collaboration with CAFU for on-demand fuel and car wash services — as key drivers behind the strong performance. Parkin has revised its full-year revenue outlook upwards, citing ongoing expansion and smart mobility initiatives.
By the end of Q3 2025, Parkin reported AED 577.3 million in net debt and AED 654.8 million in liquidity, underscoring its solid financial position and commitment to advancing Dubai’s smart mobility ecosystem.
Source: Dubai Media Office
