Dubai’s parking firm Parkin reports AED 625 mln net profit in 2025

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Dubai’s parking firm Parkin reports AED 625.5 million net profit in 2025

February 26, 2026

Dubais parking firm Parkin reports AED 625.5 mln net profit in 2025 — Photo: parkin.ae

DUBAI,— Parkin Company PJSC, the largest operator of paid public parking in Dubai, reported a strong finish to 2025 with revenues of AED 389.4 million in the fourth quarter, an increase of 47 percent compared with the fourth quarter of 2024.

The company said earnings before interest, taxes, depreciation, and amortization (EBITDA) reached AED 232.9 million, maintaining a margin of 60 percent, while net profit climbed 53 percent to AED 183.6 million, Emirate News Agency reported.

For the full year ended December 31, 2025, Parkin recorded revenues of AED 1.326 billion, a 43 percent increase from 2024, and net profit of AED 625.5 million ($170.3 million), up 48 percent.

Mohamed Abdullah Al Ali, Chief Executive Officer of Parkin, said the company ended the year with strong results, noting that disciplined enforcement and expanded operations contributed to higher earnings.

He said the company added more public and developer-owned parking spaces, reflecting Dubai’s role as a global hub for living, work, and investment. Seasonal card sales hit record levels as customers responded to their value. Total parking transactions were stable, while utilization fell slightly due to the higher share of seasonal card users and new parking space additions.

Al Ali added that flexible tariffs implemented earlier in 2025 supported revenue growth. The company also expanded its smart inspection fleet and deployed data-driven field inspectors to strengthen compliance across its network.

By the end of December, Parkin’s portfolio included around 229,000 parking spaces, an 11 percent increase over the previous year.

Seasonal cards and permits rose to 89,300, up 140 percent. The company issued about 810,200 violations in the fourth quarter, a 59 percent increase, while total parking transactions reached 37 million.

Parkin said its board plans to propose a cash dividend of AED 343.7 million for the second half of 2025, pending shareholder approval, with payments expected in late April 2026.

Looking ahead to 2026, the company expects public parking revenues to range between AED 560 million and AED 610 million, fine revenues between AED 420 million and AED 460 million, and seasonal card revenues between AED 260 million and AED 280 million.

(With files from WAM)