Parkin Company plans to expand its portfolio in 2026, adding between 5,500 and 7,500 new parking spaces and targeting public parking revenues of AED 560–610 million (USD 166 million), up to 16.3% growth year-on-year.
At the upper end, the additional on-street and open-air spaces would represent a 3.9% increase on its current 193,200 public parking spaces.
For FY2025, Parkin reported net profit of AED 625.5 million, up 48%, while total revenues rose 43% to AED 1.33 billion. The public parking segment alone generated AED 524.5 million. Growth was driven by Dubai’s expanding population and the introduction of variable parking tariffs.
Parkin’s total portfolio now stands at 229,000 spaces across public, developer and multi-storey parking assets.
Gulf Economist Staff Writer