Source : WAM
Parkin Company PJSC, the largest provider of paid public parking facilities and services in the Emirate of Dubai, reported revenues of AED 389.4 million for the fourth quarter of 2025, representing a 47 percent increase compared with the same period in 2024.
The company’s earnings before financing costs, taxes, depreciation and amortisation (EBITDA) rose to AED 232.9 million, reflecting comparable growth and maintaining a margin of 60 percent. Net profit climbed 53 percent to AED 183.6 million.
In its operational and financial results for the fourth quarter and the financial year ended 31 December 2025, the company stated that full-year revenues reached AED 1.326 billion, up 43 percent year-on-year. Net profit for the year totalled AED 625.5 million, marking a 48 percent annual increase.
Eng. Mohamed Abdullah Al Ali, Chief Executive Officer of Parkin, said: “We concluded 2025 with strong performance in the final quarter, converting disciplined enforcement into higher earnings. As in previous periods, we continued to expand our operational footprint by adding public parking spaces and developer-owned parking to our portfolio, supported by Dubai’s position as a global destination for living, working and investment. Seasonal card sales reached record levels as customers recognised the relative value offered by this product. Total transactions remained broadly stable compared to the same period last year, while utilisation declined as expected, reflecting the higher proportion of seasonal card users and the addition of new parking spaces.”
He added: “We benefited from the implementation of flexible tariffs earlier in the year. On the enforcement front, we continued deploying our technology-enabled smart inspection fleet, supported by data-driven field inspector deployment to enhance compliance across the network.”
By the end of the fourth quarter of 2025, the company’s total parking portfolio had grown to approximately 229,000 spaces, an 11 percent increase year-on-year. The number of permits and seasonal subscriptions surged to 89,300 cards, up 140 percent.
Total violations issued during the fourth quarter reached around 810,200, an increase of 59 percent, while total parking transactions amounted to 37 million.
The company noted that, subject to shareholder approval, its Board of Directors intends to recommend a cash dividend of AED 343.7 million for the second half of 2025, with payment expected in late April 2026.
Looking ahead to 2026, Parkin expects public parking revenues to range between AED 560 million and AED 610 million. Fine revenues are projected at AED 420 million to AED 460 million, while seasonal card revenues are forecast to reach between AED 260 million and AED 280 million.
