Latest news with #ParkinCompany
Zawya
26-05-2025
- Automotive
- Zawya
Parkin introduces public parking zones in Mirdif effective 26 May 2025
Parkin Company PJSC ('Parkin' or 'the Company'), the largest provider of paid public parking facilities and services in Dubai, announces the expansion of its parking portfolio with the introduction of new public parking zones in Mirdif, effective Monday, 26 May 2025. This initiative is in line with the Company's commitment to enhancing accessibility, improving the availability of parking, and supporting efficient traffic flow in high-demand neighbourhoods. As part of this rollout, public parking tariffs will apply to the following newly designated zones in Mirdif: Zone 251C – On-street parking Zone 251D – Off-street parking These areas are located within commercial and high-density locations in Mirdif and have been identified as requiring regulated parking due to sustained demand throughout the day. Tariff Details Parking will be charged from Monday to Saturday, 8:00 AM to 10:00 PM, with free parking on Sundays and official public holidays. The tariff structure is differentiated based on parking type (on-street vs off-street), parking duration, and whether the service is used during peak or off-peak hours, as defined below: Parking Duration Zone 251C – On-street Zone 251D – Off-street 1 hour AED 4 (Peak) / AED 2 (Off-Peak) AED 4 (Peak) / AED 2 (Off-Peak) 2 hours AED 8 / AED 5 AED 8 / AED 4 3 hours AED 12 / AED 8 AED 12 / AED 5 4 hours AED 16 / AED 11 AED 16 / AED 7 24 hours — AED 20 (flat rate) Note: 24-hour parking is available only in off-street Zone 251D. Peak Hours: 8:00 AM – 10:00 AM 4:00 PM – 8:00 PM Off-Peak Hours: 10:00 AM – 4:00 PM 8:00 PM – 10:00 PM This initiative is part of Parkin's broader strategy to implement a Variable Pricing Tariff Policy, which reflects demand-responsive pricing to manage parking occupancy more effectively. These measures help maintain optimal turnover of parking spaces in key areas and align with international best practices in urban mobility management. All parking zones will be clearly marked with signage displaying applicable tariffs and operational hours. For ease of access, full information is also available via the Parkin mobile app, website, and official social media channels. IR and Media Enquiries For more information, please visit or contact: Investors / Analysts Media About Parkin Company PJSC With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin Company PJSC is the largest provider of paid public parking facilities and services in the Emirate of Dubai, operating approximately 200k paid parking spaces. Parkin has a monopoly on Dubai's on and off-street paid public parking market and a leading share of the total on and off-street paid parking market. Under a 49-year Concession Agreement with Dubai's Roads and Transport Authority (RTA), Parkin has the exclusive right to operate a portfolio of public on and off-street parking (180k spaces) as well as public multi-storey car parking facilities (3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (20k spaces). Additional revenue streams include enforcement, the issuance of seasonal permits, parking reservations and other commercial activities. By deploying state of the art digital payment solutions and intelligent parking management systems that utilise artificial intelligence and big data analysis, Parkin's customers successfully conducted 95m parking transactions during 9M 2024. Dubai's parking operations were established in 1995 under the Dubai Municipality, before becoming part of the RTA in 2005. In December 2023, Parkin Company PJSC was established through the issuance of Law No. 30 of 2023, successfully completing its initial public offering (IPO) on the Dubai Financial Market in March 2024.
Hi Dubai
20-05-2025
- Automotive
- Hi Dubai
Dubai's Parkin Launches New Monthly Parking Subscription for Select Areas
Dubai motorists can now avoid parking stress and fines with Parkin Company's newly launched monthly subscription service, covering designated parking zones across the city. The service offers a flexible, cost-effective alternative to hourly parking fees and eliminates the need to constantly track parking time. Parkin's subscription plans provide access to roadside spaces, public lots, and private community zones, tailored to daily commuters, residents, and frequent visitors. Subscriptions can be managed easily through Parkin's mobile app or website. Residents can subscribe for parking in the following key locations, each with specific pricing and conditions: Dubai Hills public parking (631G) Light vehicles only, one vehicle per subscription 1 month: Dh500 | 3 months: Dh1,400 | 6 months: Dh2,500 | 12 months: Dh4,500 Silicon Oasis (Limited area) Includes 5% VAT, non-refundable fees, one vehicle per subscription 3 months: Dh1,000 | 6 months: Dh1,500 | 12 months: Dh2,500 Silicon Oasis Zone (H) 3 months: Dh1,400 | 6 months: Dh2,500 | 12 months: Dh4,500 Wasl Communities (Zones W & WP) Valid only for Dubai Wasl Real Estate public parking Refund possible if canceled within 48 hours One vehicle per subscription 1 month: Dh300 | 3 months: Dh800 | 6 months: Dh1,600 | 12 months: Dh2,800 Roadside and plot parking (Zones A, B, C, D) Roadside parking (zones A and C) limited to 4 hours max per session Plot parking (zones B and D) allows up to 24 hours 1 month: Dh500 | 3 months: Dh1,400 | 6 months: Dh2,500 | 12 months: Dh4,500 Parking plots only (Zones B and D) Parking permitted up to 24 consecutive hours 1 month: Dh250 | 3 months: Dh700 | 6 months: Dh1,300 | 12 months: Dh2,400 Select your preferred parking area on the map or enter the area name. Choose your subscription type and duration. Provide required information and documents. Complete payment via the app or website to activate your subscription. Up to three vehicles can be linked per Dubai traffic file, but only one vehicle can be active at a time, with 30-minute switching intervals. For traffic files outside Dubai or company-registered vehicles, only one vehicle can be added. Subscription fees are non-refundable. Downgrading from roadside & plots parking to plots only is not allowed. A Dh100 fee applies for any vehicle information modifications. Recent changes in Dubai's parking tariffs Parkin recently introduced variable parking rates across Dubai. Premium public parking now costs Dh6 per hour during peak times — 8am to 10am and 4pm to 8pm — on weekdays, excluding weekends and public holidays. Dubai's paid parking is divided into four zones: A, B, C, and D. Premium areas within these zones, marked AP, BP, CP, and DP, are located near metro stations or high-traffic commercial areas and carry higher rates due to demand. This subscription model combined with variable tariffs reflects Dubai's ongoing effort to streamline parking management and enhance convenience for motorists. News Source: Khaleej Times
Khaleej Times
20-05-2025
- Automotive
- Khaleej Times
Dubai's Parkin announces new monthly parking subscription for some areas
Dubai motorists can now breathe easy when it comes to parking. Parkin Company has rolled out monthly subscription services for designated areas across the city, removing the hassle of tracking parking time or risking fines for overstaying. The updated subscription plans provide access to various parking options, including roadside spaces, public lots, and designated zones within private communities. Keeping convenience and affordability, these packages cater to daily commuters, residents, and frequent visitors alike. Motorists can avail themselves of the service through the mobile application or Parkin website. Below are the areas where the new subscriptions services are available for residents: Dubai Hills public parking (631G): Owners of light vehicles can subscribe to this location and link only one vehicle. Duration: 1 month: Dh500 3 months: Dh1,400 6 months: Dh2,500 12 months: Dh4,500 Stay up to date with the latest news. Follow KT on WhatsApp Channels. Silicon Oasis - Limited area: You must pay 5 per cent VAT when purchasing a subscription. The fees are non-refundable and you can only link one vehicle to your subscription package. Duration: 3 months: Dh1,000 6 months: Dh1,500 12 months: Dh2,500 Silicon Oasis, Zone (H) Duration: 3 months: Dh1,400 6 months: Dh2,500 12 months: Dh4,500 Wasl Communities (Zone W & WP): This subscription is valid only for Dubai Wasl Real Estate public parking (W, WP). Motorists can only get a refund if they cancel the subscription within 48 hours from the issuance date. You can link only one vehicle to this subscription. Duration: 1 month: Dh300 3 months: Dh800 6 months: Dh1,600 12 months: Dh2,800 Roadside and plot parking (Zone A, B, C and D): The subscription is valid only for roadside parking with codes A and C and plot parking with codes B and D. Parking is permitted for a maximum of four consecutive hours in roadside parking and 24 consecutive hours in plots parking. Duration: 1 month= Dh500 3 months = Dh1,400 6 months = Dh2,500 12 months = Dh4,500 Parking plots only (Zone B and D): The subscription is valid only for parking plots with codes B and D and parking is permitted for a maximum of 24 consecutive hours in these zones. Duration: 1 month: Dh250 3 months: Dh700 6 months: Dh1,300 12 months: Dh2,400 How to subscribe: Specify your area: Check the map and indicate the area where you need a parking subscription, or just type the name of the area. Choose subscription type and duration: Explore available subscription options based on your selected location and choose the subscription type and period that fit your needs. Complete requirements and payment: Check the subscription requirements, fill in the details, upload the required documents, and pay to secure your subscription. Here are some things to keep in mind if you are getting a parking subscription: Up to three vehicles can be added to the subscription under the same traffic file from Dubai, with only one vehicle active at a time. The user can switch between vehicles every 30 minutes. Only one vehicle can be added if the traffic file is from outside Dubai, other countries, or if the vehicles are registered under a company file. Subscription fees are non-refundable. You cannot downgrade your subscription from the roadside & plots parking category to the plots only parking category. A fee of Dh100 is required to modify any vehicle information linked to your subscription. Parkin's variable parking rates In April, Parkin added new variable parking tariffs across Dubai. Under the revised tariff, premium public parking spots costs Dh6 per hour during peak hours, between 8am and 10am and 4pm to 8pm, across all zones, excluding weekends and public holidays. Paid public parking in Dubai is mainly divided into four different zones: A, B, C, and D, of which premium areas have become AP, BP, CP, and DP. The zones classified with 'P' are premium parking areas with different tariffs. Premium parking are those spaces that have easy access to public transport, such as areas within 500m of a metro station; areas with high parking occupancy during peak periods; and areas with density and congestion, such as markets and commercial activity zones.
Zawya
19-05-2025
- Business
- Zawya
Mideast Stocks: Most Gulf stocks inch lower as global sentiment sours
Most Gulf stocks were trading lower early on Monday as Asian shares fell and oil prices weakened, while investor sentiment was rattled by mixed economic data from China and a downgrade of the U.S. credit rating. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8%, while Wall Street share futures slipped as concerns over unpredictable U.S. economic policies were amplified by Moody's downgrade of the country's credit rating. Meanwhile in China, official data showed growth in industrial output slowed in April, though still fared better than economists had expected. The downgrade and mixed data also weighed on oil prices with front-month Brent crude futures falling 0.8% by 0630 GMT. Saudi Arabia's benchmark stock index fell 0.2%, weighed by a near 3% drop in construction firm Retal Urban Development Company SJSC. Among gainers on the index, insurance firm Allied Cooperative Insurance Group surged 14.65% after it announced a announced a 1 for 0.72 rights issue. Meanwhile, Abu Dhabi's benchmark index was down 0.12% and Kuwait's benchmark index fell 0.21%. Bucking the trend, Dubai's main share index rose 0.45% supported by a 5.26% rise in public parking spaces provider Parkin Company.
Reuters
19-05-2025
- Business
- Reuters
Most Gulf stocks inch lower as global sentiment sours
May 19 (Reuters) - Most Gulf stocks were trading lower early on Monday as Asian shares fell and oil prices weakened, while investor sentiment was rattled by mixed economic data from China and a downgrade of the U.S. credit rating. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was down 0.8%, while Wall Street share futures slipped as concerns over unpredictable U.S. economic policies were amplified by Moody's downgrade of the country's credit rating. Meanwhile in China, official data showed growth in industrial output slowed in April, though still fared better than economists had expected. The downgrade and mixed data also weighed on oil prices with front-month Brent crude futures falling 0.8% by 0630 GMT. Saudi Arabia's benchmark stock index (.TASI), opens new tab fell 0.2%, weighed by a near 3% drop in construction firm Retal Urban Development Company SJSC ( opens new tab. Among gainers on the index, insurance firm Allied Cooperative Insurance Group ( opens new tab surged 14.65% after it announced a announced a 1 for 0.72 rights issue. Meanwhile, Abu Dhabi's benchmark index (.FTFADGI), opens new tab was down 0.12% and Kuwait's benchmark index (.BKP), opens new tab fell 0.21%. Bucking the trend, Dubai's main share index (.DFMGI), opens new tab rose 0.45% supported by a 5.26% rise in public parking spaces provider Parkin Company ( opens new tab.
