Latest news with #ParkinCompanyPJSC
Hi Dubai
5 days ago
- Automotive
- Hi Dubai
Parkin and CAFU Launch Region's First On-Demand Fuel and Car Wash Service
Parkin Company PJSC, Dubai's largest provider of paid public parking facilities, has partnered with CAFU, a leading on-demand fuel delivery and vehicle services platform, to introduce the region's first fuel and car wash service directly at Parkin's parking locations. Under the agreement, vehicles parked in Parkin facilities can receive fuel delivery or car washing without leaving their spot. Customers will be able to request services through links sent via SMS or WhatsApp, and soon via Parkin's mobile app. CAFU users can continue to access the services through the CAFU app. The offering will launch on 14 August 2025. The initiative aims to enhance convenience while reducing unnecessary trips to fuel stations and car washes, helping to ease traffic congestion and cut emissions. CAFU's pressurised wash system also reduces water usage, aligning with the UAE's Green Agenda 2030 and supporting sustainable mobility solutions. The partnership is powered by a unified system integrating both platforms and is expected to generate AED 5–7 million in annual revenues for Parkin without requiring capital investment. It forms part of Parkin's strategy to expand its integrated service portfolio and transform into a customer-focused, digitally driven mobility platform. Eng. Mohamed Abdulla Al Ali, CEO of Parkin, said the collaboration reflects the company's ambition to offer innovative, time-saving solutions that turn idle parking time into added convenience. Rashid Al Ghurair, Founder and CEO of CAFU, noted that the partnership makes urban car care seamless by meeting customers where they are, transforming vehicle maintenance into an effortless part of daily life. By combining Parkin's extensive parking network with CAFU's on-demand service expertise, the partnership sets a new benchmark for mobility services in Dubai, offering a model that blends customer convenience, sustainability, and digital integration. News Source: Dubai Media Office
Hi Dubai
10-07-2025
- Business
- Hi Dubai
Dubai Municipality Signs MoU with Parkin to Boost Public Parking Efficiency
Dubai Municipality has signed a strategic Memorandum of Understanding with Parkin Company PJSC, aiming to enhance the operational efficiency and service quality of public parking across the city. The agreement sets the stage for deeper collaboration between the government body and Dubai's largest provider of paid public parking services. It covers joint efforts to streamline regulatory procedures, develop planning standards, and enable data sharing to optimise public parking operations. Under the MoU, Parkin will take over the management of selected free public parking facilities owned by Dubai Municipality. The move expands Parkin's footprint in delivering smart-parking solutions that align with Dubai's urban development goals. The partnership also explores new investments in multi-storey parking structures and advanced services at major public events. Both entities will work toward establishing unified criteria for converting private plots into public parking spaces and deploying smart technologies like automated access and payment systems. Officials say the agreement supports Dubai's ambitions under the 2040 Urban Master Plan by advancing smart, sustainable infrastructure that improves mobility and enhances the customer experience across the emirate. News Source: Dubai Media OFfice
Mid East Info
24-06-2025
- Business
- Mid East Info
Parkin's IPO Recognised as Best Privatisation in EMEA
Parkin Company PJSC 'Parkin' or 'the Company', the largest provider of paid public parking facilities and services in Dubai, has been awarded Best Privatisation in EMEA, at the 2025 EMEA Finance Achievement Awards in London. The annual awards ceremony recognises standout transactions and institutions shaping capital markets across Europe, the Middle East and Africa. The award celebrates Parkin's successful evolution from a government department into a high-performing and profitable listed infrastructure business. The carve-out process and subsequent public-to-private transition in March 2024 resulted in record oversubscription levels achieved on the Dubai Financial Market, with interest from high-quality local, regional and international investors generating AED 259 billion in total demand (US$71 billion), implying an oversubscription level of 165x. The recognition by EMEA Finance magazine reinforces Parkin's position as the benchmark for successful privatisation in the region, reflecting Dubai's leadership in developing investable and future-ready infrastructure platforms. The Best Privatisation in EMEA award follows last month's Best MENA IPO accolade from Euromoney, further enhancing Parkin's growing reputation for excellence in the transportation industry. Eng. Mohamed Abdulla Al Ali, CEO of Parkin, commented: 'Winning Best Privatisation in EMEA is a proud moment for both Parkin and Dubai. From the outset, our goal was to deliver a privatisation that set a new regional benchmark in transaction structure, investor interest and long-term value creation. The response to our IPO was extraordinary and what we have achieved since listing reflects the strength of our capex-light, cash-generative business model, our post-privatisation strategy and the ambitions of our team. This award is a testament not only to our success but also to Dubai's leadership in shaping innovative, world-class mobility infrastructure, demonstrating its ability to attract global investors through visionary privatisation initiatives.' 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, with a portfolio of approximately 206k paid parking spaces, as at year end 2024. Parkin has a dominant position in relation to Dubai's on and off-street paid public parking market and a leading share of the overall 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 (c.184k spaces) as well as public multi-storey car parking facilities (c.3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (c.19k spaces) and provides barrierless, ticketless on behalf of Majid Al Futtaim across two malls. 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 132m parking transactions in 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
23-06-2025
- Business
- Hi Dubai
Parkin Wins Best Privatisation in EMEA for Landmark Dubai IPO
Parkin Company PJSC has been named Best Privatisation in EMEA at the 2025 EMEA Finance Achievement Awards in London, marking another major milestone in the company's rapid rise as a standout player in Dubai's infrastructure sector. The award recognises Parkin's transformation from a government entity into a high-performing listed business. Its March 2024 IPO on the Dubai Financial Market drew AED 259 billion (US$71 billion) in total demand, making it one of the most oversubscribed listings in the region with a 165x oversubscription rate. This recognition follows Parkin's recent win as Best MENA IPO by Euromoney, further cementing its position as a model for successful privatisation and a key contributor to Dubai's vision for future-ready infrastructure. Parkin CEO Eng. Mohamed Abdulla Al Ali called the award a proud moment for both the company and the city, highlighting the team's efforts to create long-term value and attract global investment through a capex-light, cash-generative business model. The accolade reinforces Dubai's growing reputation for innovative privatisation strategies and its ability to lead transformative developments in the mobility and infrastructure space. News Source: Burson Global
Mid East Info
19-06-2025
- Automotive
- Mid East Info
Parkin Goes Global at UITP Summit in Hamburg, Showcasing Smart Parking Technology and Chairing New Parking Transformation Working Group
Parkin Company PJSC 'Parkin' or 'the Company', the largest provider of paid public parking facilities and services in Dubai, successfully concluded its participation in the 2025 UITP Summit, held in Hamburg, Germany. Marking a strategic milestone for Parkin, the world's largest public transport event represents the Company's first foray onto the international conference stage, reinforcing its position as a global leader in parking and urban mobility transformation. Parkin, representing the United Arab Emirates UAE alongside Dubai's Roads and Transport Authority RTA, showcased its latest smart parking technology and operational systems, unveiled upcoming plans to integrate electric vehicle (EV) charging infrastructure, and provided live demonstrations of the Parkin mobile app. As Dubai's exclusive public parking operator, managing more than 207,000 paid spaces, Parkin also exhibited its digital capabilities and forward-thinking innovations to both His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of the Roads and Transport Authority-Dubai, and a wider, global audience, including next-generation AI-powered enforcement system prototypes, designed to integrate discreetly with lighting poles and traffic signage, supporting Dubai's visual identity and wider sustainability objectives. In parallel, Parkin played a key strategic role in the UITP Summit's global agenda. Earlier in 2025, Parkin and UITP signed a strategic partnership to establish the Global Parking Transformation Working Group, which was officially launched at the Summit in Hamburg and chaired by Eng. Mohamed Abdulla Al Ali, CEO of Parkin. Eng. Mohamed Abdulla Al Ali Chaired the Global Parking Transformation Working Group's inaugural meeting, attended by global leaders from Europe, Asia, the Middle East, and the Americas, where discussions focused on positioning parking as a critical enabler of sustainable, integrated mobility, exploring AI-driven systems, while encouraging innovation sharing and the creation of a framework for impact measurement. Eng. Mohamed Abdulla Al Ali, CEO of Parkin and Chair of the UITP Global Parking Transformation Working Group, commented: 'Reshaping mobility to support greener, safer and more liveable cities requires a fundamental shift in how we think about parking infrastructure. At Parkin, we see our role as helping cities unlock this potential, by building the right platforms, enabling informed choices and reimagining parking as the driver of sustainable urban life.' As the UITP Summit came to a close, it brought further international recognition to the UAE with the confirmation that Dubai will host the next edition in 2026—further positioning the Emirate and Parkin at the forefront of the future urban mobility landscape. 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, with a portfolio of approximately 206k paid parking spaces, as at year end 2024. Parkin has a dominant position in relation to Dubai's on and off-street paid public parking market and a leading share of the overall 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 (c.184k spaces) as well as public multi-storey car parking facilities (c.3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (c.19k spaces) and provides barrierless parking for Majid Al Futtaim across three malls (c.21k 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 132m parking transactions in 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. About UITP: UITP The International Association of Public Transport works to enhance quality of life and economic well-being by supporting and promoting sustainable transport in urban areas worldwide. As a passionate champion of sustainable urban mobility, UITP is internationally recognised for its work to advance the development of this critical policy agenda. With more than 1900 members in 100 countries, UITP has a long history to its name from 1885 to today and is the only worldwide network to bring together all public transport stakeholders and all sustainable transport modes.
