Dubai: Parkin posts record Dh320 million total revenues in second quarter of 2025
Parkin announced that their EBITDA (earnings before interest, taxes, depreciation, and amortisation) rose to 41 per cent to Dh189.3 million, while net profit climbed to 56 per cent compared to Q2 2024.
'Parkin's record-breaking Q2 performance underscores our ambition to redefine Dubai's urban mobility through smart, efficient and customer-focused parking solutions,' said Eng Mohamed Abdulla Al Ali, CEO of Parkin.
He further added that the firm's strong revenue growth was driven by the successful rollout of the "variable parking tariff, increased seasonal card sales, and improved enforcement".
Parking spaces
By the end of Q2, Parkin managed 211,500 parking spaces, a 6 per cent increase compared to Q2 2024's 200,400. Public parking spaces increased by 11,700 to 188,700 spaces (a 7 per cent increase) following significant additions in Zone C with 7,800 on-street spaces) added and Zone D, with 3,800 off-street spaces added. Between year-end 2024 and Q2 2025, a total of 4,700 new public parking spaces were added.
The introduction of Dubai's variable parking tariff in April 2025 reclassified public spaces into Standard Parking (109,000 spaces) and Premium Parking (79,700 spaces). The Dh25 hourly tariff applies only during major events.
Developer parking, meanwhile, declined slightly to 19,600 spaces due to planned phase-outs at Al Sufouh, although some areas saw new additions, particularly in Zone W, launched in April. Multi-story parking capacity remained stable at 3,200 spaces.
Strong transaction growth
Total parking transactions increased 15 per cent year-on-year to 32.9 million. Public parking was the main driver, with Zone C transactions jumping 17 per cent to 20 million, and Zone D rising 7 per cent to 3.3 million.
Developer parking transactions surged 35 per cent despite fewer spaces, thanks to higher utilisation rates. Multi-story car parking remained flat year-on-year at 3.2k in Q2 2025. Post-period end, the newly refurbished Al Rigga MSCP re-opened in July 2025, restoring access to 440 spaces, equipped with advanced barrierless, ticketless access technology.
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