Parkin Company PJSC, Dubai’s leading paid public parking operator, reported a 50 percent increase in net profit for the third quarter of 2025, driven by record revenues and strategic expansions across its parking network.
Total revenue rose 43 percent year-on-year to AED 343.3 million, supported by higher public parking tariffs, expanded seasonal card sales, and increased enforcement proceeds. EBITDA reached AED 199.8 million, up 36 percent from the same period last year, while the EBITDA margin remained strong at 58 percent.
Operationally, Parkin added approximately 11.7 thousand parking spaces, growing its total portfolio to 219,000 spaces. Public parking saw the largest increase, with 12.5 thousand new spaces added across on-street and off-street zones. Multi-story car parks also expanded, highlighted by the reopening of the refurbished Al Rigga MSCP, featuring advanced barrierless access technology.
Seasonal card sales surged 126 percent to 81,000, reflecting customer preference for value-for-money parking options. While overall public parking utilisation declined to 21.3 percent, transaction volumes remained steady at 34.1 million, with developer parking and MSCP segments recording significant growth.
Enforcement activity intensified, with notices issued rising 63 percent to 682,000, aided by technology upgrades and an expanded smart scan fleet. Corresponding revenue from fines increased 59 percent to AED 103 million, maintaining a high collection rate of 86 percent.
CEO Eng. Mohamed Abdulla Al Ali said the results reflected disciplined execution of the company’s growth strategy, including partnerships such as the on-demand fuel and car wash service with CAFU. The company revised its full-year revenue guidance upwards, citing continued expansion and innovation as key drivers for future growth.
Parkin ended Q3 2025 with AED 577.3 million in net debt and liquidity of AED 654.8 million, positioning the company to sustain its market leadership and pursue further smart mobility initiatives.
News Source: Dubai Media Office
