Parkin announces Variable Parking Tariff Policy in Dubai
26 Mar 2025 20:42
DUBAI (WAM)Parkin Company PJSC today announced an update in relation to the Variable Parking Tariff Policy.As previously announced by the Company, a Variable Parking Tariff Policy will become effective in Dubai from 4th April 2025.The new policy, introduced by the Roads and Transport Authority, applies peak and off-peak tariffs across 100% of the public parking portfolio and to approximately 35% of developer spaces, based on the type of parking facility (Standard Parking or Premium Parking) and whether the service is used during peak or off-peak hours.Premium Parking is categorised as parking facilities in high-demand, densely populated areas, including adjacent to or near public transport infrastructure. The zones are clearly marked with dedicated signage and tariff details on display. Additional information is now available on the Parkin website, via the Parkin mobile app and social media channels.Following further discussions between Parkin and the RTA, the RTA has designated approximately 40% of the Company's public portfolio as Premium Parking (up from a previously communicated 35%). The balance of the public parking portfolio will be categorised as Standard Parking.As at year-end 2024, the Company operated 3.2k parking spaces across six MSCPs. The MSCP parking tariff will remain unchanged at AED 5 per hour, chargeable around the clock, 365 days a year. However, customers parking for more than 8 hours in any 24 period will be subject to a maximum fee of AED 40.As at year-end 2024, the Company's private developer portfolio consisted of 19.2k spaces. Following discussions with the RTA, the expectation is that approximately 35% (up from a previously expected 0%) of Parkin's developer portfolio will be subject to the variable tariff.In line with the public parking portfolio, the Variable Parking Tariff Policy will also apply to developer parking spaces from 4th April 2025. A breakdown of tariffs that will apply to developer spaces can be found in the appendix.To manage increased vehicle volumes during grand events, a tariff of AED25 per hour will be in effect from 8:00 AM to 10:00 PM in the area immediately surrounding the Dubai World Trade Centre (DWTC). The grand events tariff will be applicable to approximately 200 spaces.At the time of announcement, the following grand events are scheduled to take place at the DWTC in 2025:GITEX (13 – 17 October / 5 days)Beautyworld Middle East (27 – 29 October / 3 days)Gulfood Manufacturing (4 – 6 November / 3 days)The Big 5 (24 – 27 November / 4 days)
Automechanika Dubai (9 – 11 December 2025 / 3 days)
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