Parkin Company PJSC posted robust financial results for the fourth quarter of 2025, driven by expanding parking capacity, flexible tariff implementation, and increased adoption of seasonal subscriptions across Dubai’s public parking network.
The company recorded revenues of AED 389.4 million during the quarter, representing a 47 percent increase compared with the same period in 2024. Earnings before financing costs, taxes, depreciation and amortisation reached AED 232.9 million, maintaining a strong margin of 60 percent, while net profit rose 53 percent year on year to AED 183.6 million.
For the full financial year ended 31 December 2025, revenues climbed to AED 1.326 billion, up 43 percent annually. Net profit reached AED 625.5 million, reflecting a 48 percent increase compared with the previous year.
Chief Executive Officer Eng. Mohamed Abdullah Al Ali attributed the performance to disciplined enforcement measures, portfolio expansion, and Dubai’s continued appeal as a global hub for living, business, and investment. The company expanded its operational footprint by adding new public and developer-owned parking spaces while recording strong demand for seasonal cards, which reached record sales levels.
By the end of the fourth quarter, Parkin’s portfolio grew to approximately 229,000 parking spaces, an 11 percent annual increase. Seasonal subscriptions surged 140 percent to 89,300 cards. Total violations issued rose 59 percent to about 810,200, while parking transactions remained stable at 37 million.
The company also highlighted the rollout of technology-enabled smart inspection vehicles and data-driven enforcement strategies aimed at improving compliance across its network.
Subject to shareholder approval, Parkin’s board intends to recommend a cash dividend distribution of AED 343.7 million for the second half of 2025, with payment expected in late April 2026.
Looking ahead, the company projects continued growth in 2026, forecasting public parking revenues between AED 560 million and AED 610 million alongside steady increases in fine and seasonal card revenues.
News Source: Emirates News Agency
